NC H190

Urges Congress to enact an "American Economic Recovery Program" citing concerns about $275 trillion in derivatives contracts held by federally insured banks and declining GDP growth of 1-2% annually.

Proposes restoring the Glass-Steagall Act to separate investment and commercial banking, which was repealed and the resolution claims prevented banking crises for 66 years.

Calls for establishing a National Infrastructure Bank with $1-3 trillion in federally backed, nontaxpayer funds to finance high-speed rail, power systems, water projects, and coastal seawalls.

Recommends using federal credit systems to build flood control projects in the Carolinas modeled on the Tennessee Valley Authority and to prioritize East Coast high-speed rail development.

Directs the Secretary of State to transmit the resolution to the President, Congress, and North Carolina's congressional delegation.