Florida Senate - 2022                                    SM 1738
       By Senator Torres
       15-01685-22                                           20221738__
    1                           Senate Memorial                         
    2         A memorial to the Congress of the United States,
    3         requesting Congress to pass H.R. 3339, which creates a
    4         National Infrastructure Bank to finance urgently
    5         needed infrastructure projects.
    7         WHEREAS, the American Society of Civil Engineers gave the
    8  United States a grade of C- in its America’s Infrastructure
    9  Report Card 2021 and reported that more than $4.5 trillion would
   10  be needed to restore the nation’s infrastructure to a state of
   11  good repair, yet less than half of that amount is currently
   12  funded and the remainder is inadequately funded, and
   13         WHEREAS, new 21st century projects are also unfunded, and
   14         WHEREAS, 13 percent of Florida’s roads are in poor
   15  condition, costing each Florida driver roughly $425 per year to
   16  drive in this state, and 15 percent of Florida’s bridges are at
   17  least 50 years old, with 2.9 percent of the bridges rated as
   18  structurally deficient, and
   19         WHEREAS, Florida has serious water infrastructure issues,
   20  and the state’s drinking water needs are estimated to total
   21  $21.9 billion, wastewater needs are estimated to total $18.4
   22  billion, and stormwater management needs are estimated to total
   23  $1.1 billion, and
   24         WHEREAS, the National Low Income Housing Coalition reports
   25  a shortage of 384,743 affordable rental homes available for
   26  extremely low-income renters, and Florida International
   27  University in its report titled “Miami’s Housing Affordability
   28  Crisis” has documented that 6 in 10 employed adult residents of
   29  Greater Miami spend more than 30 percent of their income on
   30  housing, which is the highest rate of any large metro area in
   31  the nation, and
   32         WHEREAS, on May 19, 2021, H.R. 3339 was introduced in
   33  Congress, otherwise known as the National Infrastructure Bank
   34  Act of 2021, which will create a new $5 trillion national
   35  infrastructure bank to invest in infrastructure projects, and
   36         WHEREAS, the National Infrastructure Bank Act of 2021 would
   37  not require new federal spending or new federal taxes and would
   38  be capitalized by repurposing existing Treasury debt, as was
   39  done previously in this country’s history, and
   40         WHEREAS, the National Infrastructure Bank Act of 2021 would
   41  help finance Florida’s infrastructure in partnership with the
   42  state, county, and other local governments, and
   43         WHEREAS, the National Infrastructure Bank Act of 2021 would
   44  build infrastructure, create jobs in rural and urban
   45  communities, help end poverty, bring broadband connectivity into
   46  every corner of this state regardless of cost, fix all roads not
   47  covered by Congress, and finance new rail lines, including high
   48  speed rail, connecting Florida both north-south and east-west to
   49  the rest of the nation, and
   50         WHEREAS, the National Infrastructure Bank Act of 2021 would
   51  further develop Florida’s ports, build 7 million affordable
   52  housing units in the nation, including in Florida, and hire and
   53  train people who lost their jobs during the COVID-19 pandemic
   54  and employ them in high-paying jobs to build necessary
   55  infrastructure, and
   56         WHEREAS, the National Infrastructure Bank is modeled on
   57  previous banks that helped build much of this nation’s
   58  infrastructure under Presidents George Washington, James
   59  Madison, Abraham Lincoln, and, more recently, Franklin D.
   60  Roosevelt, who helped bring this country out of the Great
   61  Depression and win World War II, and
   62         WHEREAS, the National Infrastructure Bank Act of 2021 would
   63  create 25 million new jobs, mandate large-scale minority hiring,
   64  pay Davis-Bacon wages, include Buy American provisions, and
   65  provide disadvantaged business enterprises with significant
   66  disbursements, and
   67         WHEREAS, according to experts, the National Infrastructure
   68  Bank Act of 2021 would grow the economy by 5 percent per year,
   69  as did its predecessors, and
   70         WHEREAS, 21 state legislatures have introduced or passed
   71  resolutions in support of H.R. 3339, as have county and city
   72  councils, including the Alachua County Board of County
   73  Commissioners, the Gainesville City Commission, and the Northern
   74  Central Florida Regional Planning Council, and
   75         WHEREAS, national organizations have also passed
   76  resolutions endorsing H.R. 3339, including the Public Banking
   77  Institute, the National Congress of Black Women, the National
   78  Association of Counties, the U.S. High Speed Rail Association,
   79  the National Latino Farmers and Ranchers Trade Association, the
   80  American Sustainable Business Council, the National Association
   81  of Minority Contractors, and the National Federation of Federal
   82  Employees, as well as many community and labor organizations,
   85  Be It Resolved by the Legislature of the State of Florida:
   87  That the United States Congress is requested to pass H.R. 3339,
   88  the National Infrastructure Bank Act of 2021, creating a
   89  National Infrastructure Bank to finance urgently needed
   90  infrastructure projects.
   91         BE IT FURTHER RESOLVED that copies of this memorial be
   92  presented to the President of the United States, to the
   93  President of the United States Senate, to the Speaker of the
   94  United States House of Representatives, and to each member of
   95  the Florida delegation to the United States Congress.