Infrastructure Spending on Life Support: National Infrastructure Bank to the Rescue!
Please join us through the link:
https://us02web.zoom.us/meeting/register/L2zAqjQZR-uJypIeK-XhAg#/registration
Please join Maryland Delegate Chao Wu, New York Congressman Paul Tonko, and Ohio State Senator Catherine Ingram for a national Zoom mobilization event, “Infrastructure Spending on Life Support: National Infrastructure Bank to the Rescue!” on December 30 at 8pm ET/5PM PT.
As 2025 “happily” comes to an end, the crisis in the US economy and infrastructure is roaring. Unemployment is growing and is the highest since 2020. Job creation has stalled, and a recession is either here or in the offing.
The Biden Bipartisan Infrastructure Law (BIL), set to expire this year. It must be renewed or die. The battleground is the US House Committee on Transportation and Infrastructure (T and I) which is debating its fate. The $1.2 Trillion BIL contains $650 billion for surface transportation and $550 billion for “other areas”, i.e. water, broadband, power transmission, schools, etc. Deliberations have begun.
The problem is that the federal budget is running an annual $1.5 trillion shortfall. The debt is over $38 Trillion (!) So short of Voodoo Economics, where is the $1.2 trillion going to come from? The T and I Committee has no clue. There is not enough money to reauthorize even surface transportation spending, and the committee is not even going to address the “infrastructure” components!
$1.2 trillion is not enough! The country needs to spend at least $5 trillion to address the deep infrastructure shortfall.
There is only one solution: The $5 trillion National Infrastructure Bank (NIB), as spelled out in H.R.5356 in the U.S. House of Representatives.
The NIB is off the budget! It will require no new federal spending or taxes. It has been done before, but not for decades. Much of the US infrastructure is over 100 years old and was built by the last institution, the Reconstruction Finance Corporation. Without a world-class infrastructure, all the talk of reshoring American industry or “expanding our manufacturing” is just BS.
Support for H.R.5356 is growing. 49 members of Congress are sponsoring the bill. Resolutions are being filed in legislatures and city councils around the country in support of H.R.5356.
Even before the webinar on December 30, please ask your congressional representative or other elected officials to support H.R.5356. They are at home!
