| R 332 |
| 2024 -- H 7587 Enacted 05/30/2024 |
| H O U S E R E S O L U T I O N |
| STRONGLY SUPPORTING A NATIONAL INFRASTRUCTURE BANK THROUGH THE PASSAGE OF THE 118TH CONGRESS H.R. 4052 |
Introduced By: Representatives Cortvriend, Nardone, Edwards, Morales, Potter, Batista, Handy, and McGaw |
| Date Introduced: February 09, 2024 |
| WHEREAS, , On June 13, 2023, Congress introduced H.R. 4052 cited as the “National |
| Infrastructure Bank Act of 2023” in order to “facilitate efficient investments and financing of |
| infrastructure projects and new job creation through the establishment of a National Infrastructure |
| Bank, and for other purposes”; and |
| WHEREAS, The American Society of Civil Engineers (ASCE), in its 2021 Report Card |
| and Failure to Act Series, estimated that $6,109,000,000,000 will be needed over the next ten |
| years in order to meet all of our country’s infrastructure needs; and |
| WHEREAS, Portions of that amount will be financed by the federal government, States, |
| counties, cities, utilities, and port and airport authorities through their general revenues, special |
| taxes, user fees, and borrowing; and |
| WHEREAS, The ASCE 2021 report card also stated that the United States received a |
| grade of C- regarding the current state of infrastructure and that more than six trillion dollars |
| would be needed to restore the nation's infrastructure to a state of good repair. Over two trillion |
| dollars is currently not funded and the remainder is inadequately funded. New, 21st Century |
| projects are unfunded; and |
| WHEREAS, The Rhode Island Section of ASCE report gave the state a C- in its June, |
| 2020 report card. Among the grades were: Bridges D-, Drinking Water C+, Ports C, Rail B-, |
| Roads D, and Wastewater C. Forty-four percent of Rhode Island's gas lines are over 50 years old |
| and require repair and upgrade; Twenty-two percent of Rhode Island's 779 bridges are |
| structurally deficient and the worst in the nation, as our State recently experienced with the |
| Washington Bridge on 195 West; and |
| WHEREAS, In addition, Rhode Island's share of rural roads that are in poor condition is |
| also worst in the nation, and Providence Water, the largest treatment facility in New England, is |
| almost 100 years old, and its distribution network shows higher lead concentrations than is |
| permitted by the EPA; and |
| WHEREAS, Currently, a financing gap of $2,626,000,000,000 is expected unless an |
| increased investment, from all levels of government, is made; and |
| WHEREAS, The establishment of the National Infrastructure Bank (NBI) would provide |
| financing of up to $5,000,000,000,000 for qualifying infrastructure projects without requiring |
| additional Federal taxes or deficits; and |
| WHEREAS, Such funding would be adequate to finance all of the United States’ |
| unfunded infrastructure needs, in all parts of the country, according to well-developed strategic |
| plans; and |
| WHEREAS, H.R. 4052 will establish and provide a $5 trillion National Infrastructure |
| Bank that will finance the nation’s infrastructure needs without involving the budget or adding to |
| the national debt and is essential for States continued well-being and financial health; now, |
| therefore be it |
| RESOLVED, That this House of Representatives of the State of Rhode Island hereby |
| calls upon the United States Congress to pass H.R. 4052, to create a National Infrastructure Bank |
| to finance urgently needed infrastructure projects; and be it further |
| RESOLVED, That the Secretary of State be and hereby is authorized and directed to |
| transmit duly certified copies of this resolution to His Excellency Joseph R. Biden, Jr., President |
| of the United States, members of the Rhode Island Delegation to Congress, and the Honorable |
| Daniel McKee, Governor of the State of Rhode Island. |
| ======== |
| LC003763 |
| ======== |