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NJ SR36

Resolution

Status

Introduced

1/9/2024

Primary Sponsor

Gordon Johnson

Click for details

Origin

Senate

2024-2025 Regular Session

AI Summary

  • Urges Congress to pass H.R.3339 to establish a government-owned national infrastructure bank that would generate capital by trading U.S. Treasury Bonds from private investors for preferred stock with guaranteed returns above the Treasury rate

  • Cites American Society of Civil Engineers estimates of nearly $6 trillion needed over 10 years for infrastructure improvements across ports, transit, levees, energy, telecommunications, utilities, and broadband

  • Highlights New Jersey's infrastructure deficiencies: only 29% of roads and 27% of bridges in good condition, plus 229 high-hazard dams

  • Notes that current funding mechanisms including project-based federal grants and transportation banks are insufficient for large-scale, long-term infrastructure projects

  • Directs copies of the resolution to be sent to Congressional leadership and all New Jersey members of Congress

Legislative Description

Urges Congress to establish national infrastructure bank.

Commerce

Last Action

Introduced in the Senate, Referred to Senate Commerce Committee

1/9/2024

Committee Referrals

Commerce1/9/2024

Full Bill Text

No bill text available