NC H266

North Carolina House of Representatives urges Congress to introduce and pass legislation similar to H.R. 6422 to create a National Infrastructure Bank to finance infrastructure projects nationwide.

The proposed $4 trillion bank would be capitalized by repurposing existing Treasury debt and require no new federal spending, authorized to invest in infrastructure projects only.

North Carolina faces significant infrastructure needs including 21% of interstate bridges needing repair or replacement, $17-26 billion needed for drinking water and wastewater systems over 20 years, and over 900,000 affordable housing units needed.

The bank would create 25 million new high-paying jobs with Davis-Bacon wages, Project Labor Agreements, Buy American provisions, and large-scale minority hiring and Disadvantaged Business Enterprise contracting.

The Principal Clerk shall transmit copies of this resolution to North Carolina's Congressional delegation, Governor Roy Cooper, and President Joseph Biden.