OH SR261

Ohio Senate urges U.S. Congress to pass legislation similar to H.R. 5356 (119th Congress) creating a $5 trillion National Infrastructure Bank to finance infrastructure projects

ASCE gave both the U.S. and Ohio a C- grade on infrastructure; Ohio needs $12 billion for drinking water systems and $14 billion for wastewater systems, with over 6% of bridges rated structurally deficient

The proposed bank would be capitalized by existing U.S. Treasury debt, requiring no new federal spending or taxes, and would mandate Buy America policies and prevailing wages

Projected economic benefits include tens of millions of new jobs, over 3% annual productivity increase, and over 5% annual GDP growth

Resolution has bipartisan support and endorsements from Ohio city councils (Akron, Toledo, Cleveland), labor unions, and national organizations including the National Association of Counties