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Motion of the Council of Allegheny County urging the Congress of the United States to create a new National Infrastructure Bank (NIB) could directly aid in fostering an economic recovery and build fundamental infrastructure projects.
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Whereas there is a widely acknowledged shortfall in infrastructure spending in the nation; the American Society of Civil Engineers (ASCE) gave the country a D+ in its 2017 Report Card and estimates the nation must spend at least $4.6 trillion to bring current infrastructure to a state of good repair, and noted that at least $2.1 trillion is unfunded, with the remainder inadequately funded; and
Whereas. new projects, including broadband, water projects, rail and high-speed rail are unfunded; and,
Whereas the impact of the coronavirus pandemic on peoples’ lives and the economy has been devastating; at least 30 million people are unemployed and large numbers of businesses face bankruptcy or closing, and this ongoing catastrophe has thrown the economy into a deep recession; and,
Whereas, The ASCE grade for Pennsylvania in its 2018 Report Card was C+; Roads were graded D+, Drinking Water D (as over the next ten years the drinking water funding gap statewide will be at least $10 billion); Inland Waterways were graded D (with the Port of Pittsburgh lock and dam system needing much investment and the potential for major lock and dam failure and loss of navigation for extended time periods); Wastewater D- (with the average age of all sewer systems near seventy years old and many pipes over 100 years old); and
Whereas, construction of a dedicated high-speed rail system from Boston to Washington, DC and from Philadelphia to Pittsburgh and west would provide much needed transportation in the congested northeast and central corridors and is unfunded; and,
Whereas a new National Infrastructure Bank (NIB) could directly aid in fostering an economic recovery and building necessary infrastructure projects we have neglected; and
Whereas, legislation to create such a bank has been introduced into Congress this spring, as HR 6422; and
Whereas, pursuant to the terms of HR 6422, the proposed NIB is modeled on four previous institutions created by Presidents George Washington, John Quincy Adams, Abraham Lincoln, and Franklin D. Roosevelt, which helped spur massive economic growth; and,
Whereas the new National Infrastructure Bank would be able to invest $4 trillion for urgently needed projects; and
Whereas, the proposed NIB would be capitalized by repurposing existing Treasury debt, would create no new debt in the process, and because it would be budget-neutral, would require no new taxes; and
Whereas, the proposed NIB would create 25 million new jobs paying Davis-Bacon wages, and help hire those made jobless by the coronavirus pandemic while requiring Project Labor Agreements and Buy American provisions for all projects; and
Whereas the National Infrastructure Bank would increase growth from 1.8% per year to 5% per year, and increase tax revenues coming into state, local and federal governments; and,
Whereas many organizations have endorsed the new National Infrastructure Bank. 17 state legislatures, including Pennsylvania (HR 636) have introduced or passed bi-partisan resolutions in support of the new bank. City and County councils have also passed resolutions including Allentown City Council and Northampton County Council. The National Association of Counties has endorsed the policy, and other endorsements include the National Association of Minority Contractors, National Latino Farmers and Ranchers, the National Congress of Black Women, the National Federation of Federal Employees, and many labor unions. HR 6422 has been introduced into Congress to create the new National Infrastructure Bank;
The Council of the County of Allegheny therefore hereby moves as follows:
Allegheny County Council hereby endorses HR 6422 and urges Congress to pass this legislation and create a new National Infrastructure Bank. The Chief Clerk of Allegheny County Council is hereby directed to forward copies of this motion to the Pennsylvania Congressional Delegation, to the Governor of Pennsylvania and to the President of the United States.