LRB-5996/1
CMH:skw
2023 - 2024 LEGISLATURE
March 18, 2024 - Introduced by Senator Roys, cosponsored by Representatives
Stubbs, Madison, Baldeh, Drake, Moore Omokunde and Subeck. Referred to
Committee on Senate Organization.
SJR134,1,1 1Relating to: supporting the creation of a National Infrastructure Bank.
SJR134,1,72 Whereas, the American Society of Civil Engineers stated in its 2021 report card
3that the United States received a grade of C- regarding its current state of
4infrastructure, and that more than $6 trillion would be needed to restore the nation's
5infrastructure to a state of good repair; over $2 trillion is currently not funded, and
6the remainder is inadequately funded. In addition, new, 21st century projects
7remain unfunded; and
SJR134,1,128 Whereas, HR 4052, the National Infrastructure Bank Act, was introduced in
9Congress to create a new National Infrastructure Bank. This legislation creates a
10$5 trillion bank, authorized to invest in infrastructure projects only. The legislation
11requires no new federal spending and no new federal taxes, and it would be
12capitalized by existing treasury debt, as was done previously in U.S. history; and
SJR134,1,1413 Whereas, Wisconsin infrastructure received a C grade from the American
14Society of Civil Engineers; and
SJR134,2,3
1Whereas, Wisconsin needs $8.6 billion to address drinking water infrastructure
2deficiencies and $6.3 billion for wastewater infrastructure maintenance and
3upgrades; and
SJR134,2,64 Whereas, Wisconsin has 200,000 lead service lines needing to be replaced, and
5the Bipartisan Infrastructure Law covers $800 million in drinking water needs and
6partially covers other water needs; and
SJR134,2,127 Whereas, deficient roads cost drivers $6 billion annually due to wear and tear,
8wasted fuel, and repair costs; the American Road and Transportation Builders
9Association identified 1,955 bridges in Wisconsin that require repair, with an
10estimated price tag of $1.4 billion; and Wisconsin has an estimated $7.5 billion
11shortfall in all road, bridge, and transportation needs after Bipartisan
12Infrastructure Law investments; and
SJR134,2,1413 Whereas, Wisconsin has a shortage of 127,000 units of affordable housing for
14the most housing-insecure; and
SJR134,2,1815 Whereas, a new National Infrastructure Bank will help finance all the
16infrastructure of Wisconsin in partnership with state and local governments, both
17rural and urban, and Wisconsin would receive nearly $100 billion from the National
18Infrastructure Bank, which would create at least 417,000 new high-wage jobs; and
SJR134,2,2219 Whereas, the National Infrastructure Bank is modeled on previous banks that
20helped build much of our infrastructure under Presidents George Washington,
21James Madison, Abraham Lincoln, and Franklin D. Roosevelt; the last such bank
22helped bring us out of the Great Depression and win World War II; and
SJR134,2,2523 Whereas, the National Infrastructure Bank will create 25 million new jobs, pay
24prevailing wages, and include Buy America provisions, and Disadvantaged Business
25Enterprises will receive significant disbursements; and
SJR134,3,3
1Whereas, HR 4052 mandates large-scale minority, veteran, and former
2prisoner hiring, the dramatic expansion of small- and medium-size businesses, and
3an increase in revenues for state and local governments; and
SJR134,3,54 Whereas, according to experts, the National Infrastructure Bank will grow the
5economy by 5 percent per year, as did its predecessors; and
SJR134,3,146 Whereas, many organizations have issued endorsements and 26 state
7legislatures have introduced or passed resolutions of support, as have county and
8city councils. National endorsements include Dodge County, the Wisconsin Board of
9Supervisors, the Chicago City Council, the National Black Caucus of State
10Legislators, the National Asian-Pacific American Caucus of State Legislators, the
11National Hispanic Caucus of State Legislators, the National Association of
12Development Organizations (all 541 Regional Planning Commissions), the National
13Association of Counties, the United Association of Plumbers and Steamfitters, and
14many more; now, therefore, be it
SJR134,3,18 15Resolved by the senate, the assembly concurring, That the Wisconsin
16Legislature supports the creation of a National Infrastructure Bank to finance
17urgently needed infrastructure projects and supports actions that create it, such as
18HR 4052; and, be it further
SJR134,3,21 19Resolved, That the assembly chief clerk shall provide a copy of this resolution
20to the governor, the U.S. congressional delegation for Wisconsin, and the President
21of the United States.
SJR134,3,2222 (End)
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