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. 6 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, 83 NOW, THEREFORE, 84 85 Be It Resolved by the Legislature of the State of Florida: 86 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.