2024 -- H 7587

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     STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2024

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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

     Referred To: House State Government & Elections

     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.

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