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RESOLUTION NO. 15142
A RESOLUTION URGING CONGRESS TO ENACT NATIONAL
INFRASTRUCTURE BANK LEGISLATION (H.R 3339)
WHEREAS, there is a crucial need to finance urgently needed infrastructure projects
throughout the United States; and
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 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, the remainder is
inadequately funded, and all new, 21st Century projects are unfunded; and
WHEREAS, Colorado’s drinking water infrastructure will require $10.2 billion in
additional funding; EPA estimates Colorado’s wastewater systems will require $4.69 billion to
achieve a state of good repair; and
WHEREAS, Colorado school facilities have a $14 billion funding gap; and
WHEREAS, 481 bridges and over 3,600 miles of highway in poor condition. Each driver
pays $651 per year in costs due to driving on roads in need of repair; and
WHEREAS, due to a lack of available and affordable housing, 379,000 renters in
Colorado are rent burdened; as of 2021, 6,000 households in Pueblo pay more than 50% of
their income on housing, with 25% of Pueblo’s Black households and 21% of Hispanic
households severely cost burdened, as are Asian-Pacific American households; and
WHEREAS, 12.1% of Coloradans live in areas where there is no broadband
infrastructure that provides minimally acceptable speeds. 38.1% of Coloradans live in areas
where there is only one internet provider, and 9% of Colorado households do not have an
internet subscription; and
WHEREAS, Congress introduced HR 3339, The National Infrastructure Bank Act to
create a new National Infrastructure Bank (“NIB”). 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 existing Treasury debt, as was done previously
in U.S. history; and
WHEREAS, the NIB is modeled on previous banks which helped build much of our
country’s infrastructure under Presidents George Washington, James Madison, Abraham
Lincoln, and Franklin D. Roosevelt. The last such bank helped bring the United States out of the
Depression and win WWII; and
WHEREAS, the new National Infrastructure Bank will invest five trillion dollars into
infrastructure only and create twenty-five million new jobs, paying prevailing wages. The NIB
mandates strong Buy American provisions. Disadvantaged business enterprises will be heavily
supported and the legislation requires extensive minority hiring. Colorado could receive over
$100 billion from the NIB and generate over 500,000 new high wage jobs. The Bank will grow
the economy by 5% per year as did its predecessors; and
WHEREAS, twenty-four state legislatures filed support resolutions, as did county and
city councils. Resolutions have passed in at least one house in eight states. City Councils
passing resolutions include: Los Angeles, San Francisco, Chicago, Philadelphia, Cleveland,
Gainesville FL, Providence, Pittsburgh, Anchorage, Toledo, Albany NY, and more. Other
endorsements include: the National Latino Farmers and Ranchers, National Black Caucus of
State Legislators, National Association of Development Organizations (541 Regional Planning
Commissions), the National Asian-Pacific American Caucus of State Legislators, the American
Sustainable Business Council, the US High Speed Rail Association; the United Association of
Plumbers and Steamfitters, and many more; NOW, THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that
SECTION 1.
The City Council of the City of Pueblo calls upon the United States Congress to pass
H.R. 3339 to create a National Infrastructure Bank to finance urgently needed infrastructure
projects.
SECTION 2.
The City Clerk is requested to transmit copies of this Resolution to the Colorado
delegation to Congress, to the Governor of Colorado, and to the President of the United States.
SECTION 3.
The officers and staff of the City are authorized to perform any and all acts consistent
with this Resolution to implement the policies and procedures described herein.
SECTION 4.
This Resolution shall become effective immediately upon final passage and approval.
INTRODUCED February 13, 2023
BY: Vicente Martinez Ortega
MEMBER OF CITY COUNCIL
APPROVED:
PRESIDENT OF CITY COUNCIL
ATTESTED BY:
DEPUTY CITY CLERK
City Clerk's Office Item # M10
Background Paper for Proposed
Resolution
COUNCIL MEETING DATE: February 13, 2023
TO: President Heather Graham and Members of City Council
CC: Mayor Nicholas A. Gradisar
VIA: Marisa Stoller, City Clerk
FROM: Daniel C. Kogovsek, City Attorney
SUBJECT: A RESOLUTION URGING CONGRESS TO ENACT NATIONAL
INFRASTRUCTURE BANK LEGISLATION (H.R 3339)
SUMMARY:
Attached is a resolution which calls upon the United States Congress to pass H.R. 3339
to create a National Infrastructure Bank to finance urgently needed infrastructure
projects.
PREVIOUS COUNCIL ACTION:
Not applicable to this Resolution.
BACKGROUND:
There is a crucial need to finance urgently needed infrastructure projects throughout the
United States. 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 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, the remainder is inadequately funded, and all new, 21st Century projects are
unfunded.
Colorado’s drinking water infrastructure will require $10.2 billion in additional funding;
EPA estimates Colorado’s wastewater systems will require $4.69 billion to achieve a
state of good repair. Colorado school facilities have a $14 billion funding gap.
481 bridges and over 3,600 miles of highway in poor condition. Each driver pays $651
per year in costs due to driving on roads in need of repair. Due to a lack of available
and affordable housing, 379,000 renters in Colorado are rent burdened; as of 2021,
6,000 households in Pueblo pay more than 50% of their income on housing, with 25%
of Pueblo’s Black households and 21% of Hispanic households severely cost burdened,
as are Asian-Pacific American households.
12.1% of Coloradans live in areas where there is no broadband infrastructure that
provides minimally acceptable speeds. 38.1% of Coloradans live in areas where there
is only one internet provider, and 9% of Colorado households do not have an internet
subscription.
Congress introduced HR 3339, The National Infrastructure Bank Act to create a new
National Infrastructure Bank (“NIB”). 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 existing Treasury debt,
as was done previously in U.S. history.
The NIB is modeled on previous banks which helped build much of our country’s
infrastructure under Presidents George Washington, James Madison, Abraham Lincoln,
and Franklin D. Roosevelt. The last such bank helped bring the United States out of the
Depression and win WWII.
The new National Infrastructure Bank will invest five trillion dollars into infrastructure
only and create twenty-five million new jobs, paying prevailing wages. The NIB
mandates strong Buy American provisions. Disadvantaged business enterprises will be
heavily supported and the legislation requires extensive minority hiring. Colorado could
receive over $100 billion from the NIB and generate over 500,000 new high wage jobs.
The Bank will grow the economy by 5% per year as did its predecessors.
Twenty-four state legislatures filed support resolutions, as did county and city councils.
Resolutions have passed in at least one house in eight states. City Councils passing
resolutions include: Los Angeles, San Francisco, Chicago, Philadelphia, Cleveland,
Gainesville FL, Providence, Pittsburgh, Anchorage, Toledo, Albany NY, and more.
Other endorsements include: the National Latino Farmers and Ranchers, National
Black Caucus of State Legislators, National Association of Development Organizations
(541 Regional Planning Commissions), the National Asian-Pacific American Caucus of
State Legislators, the American Sustainable Business Council, the US High Speed Rail
Association; the United Association of Plumbers and Steamfitters, and many more.
FINANCIAL IMPLICATIONS:
There are no financial implications for the City in passing this Resolution.
BOARD/COMMISSION RECOMMENDATION:
Not applicable to this Resolution.
STAKEHOLDER PROCESS:
Not applicable to this Resolution.
ALTERNATIVES:
City Council could choose not to publicly support the creation of a National
Infrastructure Bank.
RECOMMENDATION:
Approval of the Resolution.
ATTACHMENTS:
None