Bill Text: MI SR0077 | 2021-2022 | 101st Legislature | Introduced
Bill Title: A resolution to support the creation of a National Infrastructure Bank.
Spectrum: Moderate Partisan Bill (Democrat 15-2)
Status: (Introduced - Dead) 2021-08-31 - Referred To Committee On Insurance And Banking [SR0077 Detail]
Download: Michigan-2021-SR0077-Introduced.html
senate resolution no.77
Senators Alexander, Wojno, Ananich, Geiss, Brinks, Polehanki, McMorrow, Irwin, Moss, Santana, Bayer, Hertel, Chang, McBroom, Bullock, Hollier and Schmidt offered the following resolution:
A resolution to support the creation of a National Infrastructure Bank.
Whereas, The American Society of Civil Engineers (ASCE) stated in its 2021 report card that the United States received a grade of C- regarding the current state of infrastructure and that six trillion dollars would be needed to restore the nation’s infrastructure to a state of good repair. Over two and a half trillion dollars is currently not funded and the remainder is inadequately funded. New 21st Century projects are also unfunded; and
Whereas, The ASCE grade for Michigan infrastructure is D+. Many of Michigan's roads remain in appalling condition. 39% of Michigan’s 120,000 miles of paved roadways are rated in poor condition, 43% are rated in fair condition, and just 18% are rated in good condition. Poor road conditions are costing each Michigan motorist more than $600 per year; Wayne County reported that 58% of its roads are in poor condition; 11% of the state’s bridges are structurally deficient; and
Whereas, The Detroit public schools are in a state of dilapidated repair and will cost at least $1-1.5 billion to repair. There are inoperable boilers, corroded plumbing fixtures, exterior walls with cracks, roof leaks, and electrical panels in classrooms known to be fire hazards. Capital needs exist in at least 100 schools. As of September 2018, elevated levels of copper and lead were confirmed in 57 of 86 schools tested; and
Whereas, Housing insecurity in Michigan predates the pandemic. The shortage of rental homes which are affordable and available for low income renters is 204,7238. In 2019, more than 10,000 Detroiters experienced homelessness, including 2,326 who were chronically homeless. COVID-19 worsened the situation. In January 2021, more than 3,500 Detroiters requested rental payment assistance from Michigan; and
Whereas, Congress introduced HR 3339, The National Infrastructure Bank Act, to create a new National Infrastructure Bank. This legislation creates a $5 trillion bank, authorized to invest in infrastructure projects only. It would require no new federal spending and no new federal taxes; it would be capitalized by repurposing existing Treasury debt, as was done previously in U.S. history; and
Whereas, The National Infrastructure Bank is modeled on previous banks which helped build much of our infrastructure under Presidents George Washington, James Madison, Abraham Lincoln, and Franklin D. Roosevelt. The last such bank helped bring us out of the Depression and win WWII; and
Whereas, A new National Infrastructure Bank will help finance all the infrastructure needs of Michigan. It is mandated to build infrastructure and create jobs in rural and urban communities and all communities of color, and to end poverty. It will fix bridges, roads, schools, drinking water systems, build all needed affordable housing units, and install broadband everywhere. It will finance new rail and mass transportation projects; it will connect the state to high speed rail corridors in the Midwest and dramatically increase manufacturing in the state. It will hire and train the people who have lost their jobs before and during the Covid pandemic; and
Whereas, Many organizations have issued endorsements. Twenty-one state legislatures have introduced or passed resolutions of support, as have county and city councils. These include: Dearborn Hts. City Council, Highland Park City Council, Inkster City Council, Hamtramck City Council, Romulus City Council, Redford Township Council, Cleveland City Council; Pittsburgh City Council, Chicago City Council, Providence RI City Council, Philadelphia City Council; New York City Council, Toledo City Council, Akron City Council, and many more. Among the national endorsements are: The Public Banking Institute, The National Congress of Black Women, the National Association of Counties, the US High Speed Rail Association, the National Latino Farmers and Ranchers, The US High Speed Rail Association; The American Sustainable Business Council, the National Association of Minority Contractors, the National Federation of Federal Employees, and many more organizations; now, therefore, be it
Resolved by the Senate, That we support the creation of a National Infrastructure Bank; and be it further
Resolved, That copies of this resolution be transmitted to the Michigan delegation to Congress, the Governor, and the President of the United States.
