National Infrastructure Bank Coalition Blog

New York Assemblywoman Makes the Case for National Infrastructure Bank

Tue, 09 Sep 2025 22:58:07 GMT

NIB Zoom Forum

August 20, 2025

New York Assemblywoman Maryjane Shimsky, an infrastructure expert, presented a strong argument on the crises confronting the nation and the crucial role of the National Infrastructure Bank (NIB) in an August 20 National Zoom Forum. It was sponsored by the Coalition for a National Infrastructure Bank, and titled “It Takes a Crisis: Great Turning Points in American History.”

Asw. Shimsky, made her mark while serving as a member of the Westchester County, NY, Board of Legislators, in which capacity she oversaw the building of hundreds of infrastructure-related projects. She detailed all the critical infrastructure needs facing the nation. She also thanked other state and local elected officials for their help in supporting the NIB.

Asw. Shimsky called for transformative change. She said most people don’t realize how bad the infrastructure is because they can’t see it. She focused on three critical areas.

1) Affordability, a) housing shortages, b) utilities c) supply chain issues

2) Climate Resiliency

3) Power generation

The Assemblywoman ended with “We will be able to create the greatest economic expansion in a century if we’re willing to make the investment. The National Infrastructure Bank gives us a mechanism for providing a large chunk of funding of what we are going to need to make all these things happen, to solve these crises.”

Please watch this 9-minute video .

NIB Coalition Scores Two Big Victories!

Sat, 06 Sep 2025 19:14:33 GMT

The Coalition for a National Infrastructure Bank (NIB) has scored two big victories over the summer, and we are expanding the campaign.

Resolutions in support of the $5 trillion National Infrastructure Bank were recently passed by the National Association of Counties (NACo) and the Democratic National Committee (DNC).

In July, the Coalition had representatives in Philadelphia for the National Association of Counties’ summer meeting. We had a very significant impact, and NACo passed a resolution endorsing the NIB, unanimously. NACo represents 40,000 elected officials (non-partisan) across the country and 3,000 county governments!

In August, NIB Coalition representatives attended the Democratic National Committee (DNC) in Minneapolis. We had an excellent resolution supporting the NIB legislation. It was adopted unanimously and passed the entire DNC the next day! The DNC is the official leadership of the Democratic Party in the U.S.

Now, we plan to send representatives to the annual meeting of the Democratic Municipal Officials (DMO) in North Carolina the third week of September. We will be able to connect with Mayors and Council members from around the country.

Plans are also underway for the introduction of the Congressional bill to create the NIB into the 119th Congress. The previous bill had 48 sponsors, and we are mobilizing support for the upcoming legislation.

This campaign comes against a backdrop of economic and political turmoil, emanating largely from the White House. The workforce is being decimated by forced deportations and budget cuts. Tariff uncertainty has caused many industries to postpone or cut back investment. The net result is that job creation has fallen by 75% in one year, manufacturing has fallen for six straight months, and one-third of the states are now in recession!!

There are no solutions on the horizon save the NIB. The Bipartisan Infrastructure Law (BIL) is set to expire soon, and there is no money to renew it. The federal budget is running a $1-2 trillion annual deficit. The cupboard is bare!

The NIB is the only positive policy to spur massive growth of the real, productive economy, and generate millions of new high-wage jobs!

You want to Make America Truly Great? The NIB is the only game in town!

Video- It Takes a Crisis: Great Turning Points in American History

Thu, 28 Aug 2025 23:56:23 GMT

August 20, 2025

New York Assemblywoman Maryjane Shimsky, History Professor and best-selling Author H.W. Brands, former Chairman North Carolina Democratic Party Randolph Voller, and Macroeconomist Alphecca Muttardy joined together for a timely National Zoom Forum, “It Takes a Crisis: Great Turning Points in American History,” on August 20, 2025.

As destabilizing economic and political programs cascade out of Washington D.C., the United States is marching to the brink of a defining crisis. The economic aspects have not yet triggered a meltdown, but the outline of the crisis is on the horizon. Stagnant hiring, falling GDP, tariff-induced business uncertainty, $2 trillion annual budget deficits, an uptick in inflation, and looming healthcare and related budget cuts all point to a new inflection point. Stagflation and recession are fast approaching.

The Coalition for a National Infrastructure Bank has been at the forefront of efforts to promote a bold economic recovery in the tradition of Abraham Lincoln and Franklin Roosevelt. We have garnered a slew of endorsements, most recently from the powerful National Association of Counties (NACo).

Professor H.W. Brands is a renowned author who has written extensively on the history of the nation. He has chronicled the accomplishments of all the major leaders from Benjamin Franklin to Abraham Lincoln, Franklin Roosevelt, and many more. He has expertise in domestic and foreign affairs. His books are must-reads. His bestseller “A Traitor to His Class: The Privileged Life and Radical Presidency of Franklin Delano Roosevelt” is a master class in the profound intervention of FDR at moments of national, existential crisis.

Author of over thirty books on American history, Professor Brands’ biography of Benjamin Franklin and his chronicle of Abraham Lincoln’s defeat of slavery also highlight some of the key fights in American history.

We are now rapidly approaching just that kind of crisis. The interventions of Franklin, Lincoln, and FDR built the nation. We must learn those lessons and apply them once more.

Professor Brands is one of the foremost historians of our time. He will be joined by Assemblywoman Maryjane Shimsky, a recognized expert in infrastructure policy, Randolph Voller, the former Chair of the North Carolina Democratic Party, and economist Alphecca Muttardy.

Please watch this timely video and invite your friends, …. and enemies (!) to watch.

As it is said, “Those who fail to learn from history are doomed to repeat it.”

Speakers:

Professor H.W. Brands , PhD, holds the Jack S. Blanton Sr. Chair in History at the University of Texas at Austin. He has authored more than thirty books on U.S. history. His works have twice been selected as finalists for the Pulitzer Prize, “The First American” (Benjamin Franklin); and “Traitor to His Class, The Privileged Life and Radical Presidency of Franklin Delano Roosevelt.”

Assemblywoman Maryjane Shimsky , Ph.D., 92nd NY Assembly District 92. In her first term, Maryjane helped secure $100 million in additional road and bridge funding in the State Budget. As a twelve-year Westchester County Legislator, she was responsible for advancing hundreds of construction projects for roads, sewers, parks, and other public facilities.

Alphecca Muttardy , Professional Macroeconomist; former Senior Economist, International Monetary Fund. Chief Economic Advisor Coalition for a National Infrastructure Bank. Has testified in numerous state legislatures and many City and County Councils. She holds a B.S. in Mathematics and an M.A. in Economics; Fairfax, VA

Moderator: Hon. Randolph Voller , former Mayor Pittsboro, North Carolina. Former Chair North Carolina Democratic Party. Randy is also a Marshall Memorial Fellow, and holds a B.A. in History, a minor in East Asian Studies.

Video, National Infrastructure Bank and the Legacy of FDR’s New Deal Today, July 28, 2025

Sun, 03 Aug 2025 20:49:59 GMT

Award-Winning Author and Historian Dr. Harvey Kaye, and DNC Poverty Council Chair Susie Shannon, were joined by County Commissioners for a National Zoom Town Hall entitled, “The National Infrastructure Bank and the Legacy of FDR’s New Deal Today,” July 28, 2025.

While financial markets and the crypto scam head into nosebleed valuation territory, the real economy continues to deteriorate. The recent tragedy in the Hill Country in Texas punctuated this. Over 135 people have perished so far, due to the deliberate malfeasance by state and federal officials in building the infrastructure to end persistent flooding. Passage of the misnamed Big Beautiful Bill will compound the misery, as millions will lose their health care and supplemental food assistance. The schizophrenic tariff policy has caused business investment to stagnate or decline. Austerity is lethal.

The nation is crying out for a bold, radical policy to build our industry and infrastructure. The legacy of Franklin Roosevelt’s New Deal must be revived. The impact of the FDR recovery program drove a dramatic buildup of infrastructure and industrial expansion until the early 1970s. We’ve been going downhill ever since.

The Coalition for a National Infrastructure Bank (NIB) has been at the forefront of the opposition to austerity. Support for the $5 trillion bank continues to grow. Recent developments include:

On July 15, Robert Kuttner, a highly respected journalist and professor, published an article in the influential {The American Prospect} calling for an enhanced federal role in public projects, including infrastructure. In the article, Kuttner urges support for the NIB.
On July 14, the non-partisan National Association of Counties (NACo) passed a resolution at its annual convention, unanimously urging Congress to create the NIB. NACo is the major county organization in the United States. 2,350 counties are members representing 80% of the US population.
On June 14, the North Carolina Democratic Party became the latest Democratic institution to endorse the NIB
On June 7, the National Federation of Democratic Women, a mainstay of the national party, endorsed the NIB

Watch this essential video for a solution to the current economic crisis. Speakers at the July 28 Zoom event include:

Professor Harvey J. Kaye, Author and professor emeritus of history at the University of Wisconsin, Green Bay

Susie Shannon , Chair, DNC Poverty Council, Los Angeles
Christine Reuther, Esq., Member of the Delaware County Council in suburban Philadelphia
Brian Sullivan , Treasurer, Snohomish County, WA
Alphecca Muttardy , former Senior Economist, International Monetary Fund, Fairfax, VA
Randolph Voller , former Mayor and former Chair, North Carolina Democratic Party, Pittsboro

Video: A Franklin Roosevelt Policy to Uplift America - NIB Zoom Town Hall, June 18, 2025

Fri, 27 Jun 2025 02:23:53 GMT

Economists and elected officials gathered from around the country for a national Zoom Town Hall to discuss the future of our nation. On June 18, 2025, the Coalition for a National Infrastructure Bank sponsored an event entitled, “A Franklin Roosevelt Policy to Uplift America.”

The forum took place amidst the deep political rift gripping the nation, driven by the ongoing deterioration of our economy. Gross Domestic Product (GDP) fell in the first quarter for the first time in three years. Manufacturing output, despite rosy utterings, was negative for the 27th month in the last 28 months. New job creation continued to slide, and nearly 700,000 frustrated workers left the workforce in the last thirty days!

Uncertainty, like a dark cloud, hangs over the economy. Uncertainty over constantly changing tariffs, uncertainty over life-threatening cuts to health care, and uncertainty over the moribund housing market, just to name a few.

Despite this grim outlook, support for the National Infrastructure Bank (NIB) has been constantly expanding. Many in the country are burning for a positive alternative to the depressing economic and political news. People are seeking something inspiring to halt the doom and gloom. The possibility of enacting a $5 trillion NIB is awakening the memory of the bold policies of Franklin Roosevelt and his allies, who built the nation into an economic powerhouse.

Recently, the Labor Caucus of the North Carolina Democratic Party passed a resolution supporting the NIB. The National Federation of Democratic Women, the official women’s arm of the Democratic Party, also just endorsed the NIB. A support resolution will be debated at the upcoming conference of the National Association of Counties. Over the weekend, the Las Vegas Journal-Review, the largest circulation paper in Nevada, published an op-ed from the Coalition on how the NIB could solve the water crisis on the Colorado River.

As we speak, the bill for Congress, like HR4052 last year, is being readied for introduction.

Amidst the economic turbulence, rallies have sprung up all over the country to resist the ongoing diktats coming out of Washington, and the NIB Coalition is squarely putting the solution on the table.

Without an optimistic, positive alternative, things will devolve first into chaos and then into tyranny. A positive solution, centered around a Franklin Roosevelt New Deal-type program, can save the day!

At the center of this is a $5 trillion public bank to build our nation’s infrastructure and industry, hire millions of people into great-paying, productive jobs, and heal our tortured souls.

Please invite your friends to watch this video and spread the word.

Speakers:

Senator Jamie Eldridge , Massachusetts State Senate, Acton, MA

Assemblywoman Joanne Simon , New York Assembly, Brooklyn, NY

Representative Carolyn Logan , North Carolina House, Charlotte, NC

Representative Dan Sena , Massachusetts House, Acton, MA

Representative Phillip Rubin , North Carolina House, Raleigh NC

Mary Alford , Alachua County Commissioner, Gainesville, FL

Virginia Ballou , President, Idaho Democratic Women’s Caucus, Hailey, ID

David Robinson , Director of External Affairs, Manufacturing Renaissance, Chicago, IL

Carlotta Harrell , Chair, Henry County Board of Commissioners, GA

Ellen Brown , Esq., Founder Public Banking Institute, Los Angeles, CA

Alphecca Muttardy , former Senior Economist, International Monetary Fund, Fairfax, VA

Moderator: Randolph Voller , former Mayor; former Chair, North Carolina Democratic Party, Pittsboro NC

Video: The 50-Year Decline and Fall of the American Economy, and the Path Forward, May 29, 2025

Wed, 04 Jun 2025 20:50:36 GMT

The May 29 national Zoom Town Hall, “The 50-Year Decline and Fall of the American Economy, and the Path Forward,” sponsored by the Coalition for a National Infrastructure Bank, provided a platform for a most-timely and crucial discussion on the future of America and the two- party system. The Town Hall included nationally renown leaders, Ellen Brown, Esq., Author and Founder Public Banking Institute; Robert Kuttner, Brandeis University Professor and Co-Editor of The American Prospect; and Alan Minsky, former journalist and Executive Director, Progressive Democrats of America.

The United States is now at a branching point. Either we continue down the path of economic destruction, exemplified by the brutal austerity of the Trump Administration and the Congress, or we reverse gears and return to the infrastructure and manufacturing programs last implemented by the Lincoln, Franklin Roosevelt, Kennedy, and even, the Eisenhower governments. If we fail to embrace the “American System” policy of these presidents, our fate is sealed.

Robert Kuttner and Alan Minsky have written, lectured, and published extensively on the shift in principles that occurred following the death of John Kennedy and the downfall of Lyndon Johnson. Professor Kuttner is a leading expert on the policies of Franklin Roosevelt.

In 1970, we were still the greatest economy in the world. We were the manufacturing and infrastructure leader. That has been largely dismantled.

Hostile ideologies were promulgated by the perpetrators, including deregulation, unlimited free trade, denigrating the positive role of government, brutal austerity, and neo-liberalism. The latter doctrine infected both political parties, from Ronald Reagan to Bill Clinton.

The results have been deadly: a dramatic increase in income inequality, the takeover of the financial system by the worst Wall Street actors, replacing the producer economy with a consumer economy, etc. It was a short step to the victory of Donald Trump and his cronies.

The Coalition for a National Infrastructure Bank (NIB) has been building support for a new Franklin Roosevelt program. The $5 trillion NIB legislation had 48 sponsors in the 118th Congress, and a new bill is in preparation. Support resolutions continue to be introduced and adopted by state and county governments nationwide. A recent op-ed in USA Today from a New Jersey Republican Assemblyman urges Congress to adopt the NIB.

It is time to extirpate the corrosive ideas that have infected our government. As we celebrate the 250th anniversary of the founding of the United States, let us return to the policies that once made us the envy of the world.

Please watch this urgent exchange of ideas and spread the word to your friends and colleagues. Find out the policy strategy to move our country forward.

Speakers :

Alphecca Muttardy , former Senior Economist, International Monetary Fund, Fairfax, VA

Robert Kuttner , Brandeis University professor of social policy, and Co-editor of The American Prospect, Boston, MA

Alan Minsky , Executive Director, Progressive Democrats of America, Los Angeles, CA

Ellen Brown, Esq ., author and Founder, Public Banking Institute, Los Angeles, CA

Honorable Randolph Voller , former Mayor Pittsboro, NC; former Chair North Carolina Democratic Party, Pittsboro, NC

Moderator: Jack Hanna , former Treasurer and Chair Pennsylvania Democratic Party, Indiana, PA

Video: Renew President Franklin Roosevelt's Triumphant National Infrastructure Bank, May 16, 2025

Fri, 23 May 2025 20:42:02 GMT

Everyone wants to know, where is the money to build infrastructure? The Bipartisan Infrastructure Law expires in 2026 and its Surface Transportation Reauthorization Act is being debated.

Here’s the answer: The National Infrastructure Bank Act will create a $5 trillion public bank to build infrastructure projects. Last year the bill to create the bank ended with 48 sponsors in the 118th Congress and will be reintroduced. The new National Infrastructure Bank (NIB) will fund the nearly $4 trillion infrastructure gap identified in the 2025 American Society of Civil Engineers Report Card. The bank, with no new federal taxes or debt, will finance roads and bridges, power grids, high-speed rail, broadband access, large-scale water systems, and affordable housing. The federal government’s enormously successful Reconstruction Finance Corporation (RFC) from the Great Depression and World War II is the proven model.

With no new federal taxes or debt, President Franklin Roosevelt’s RFC spread electricity throughout the nation; built highways, bridges, tunnels and municipal water systems; financed the development of high-speed trains; helped people rebuild their lives destroyed by natural disasters; and saved thousands of homes, businesses, farms and banks from bankruptcy. Then, the RFC transformed the U.S. military from 17th in size into the world’s arsenal of democracy. The RFC built and owned the enormous plants that manufactured the airplanes, trucks, ships, and tanks required to win World War II and leased them to corporations to operate. The RFC created vital and enduring industries from scratch and produced and amassed strategic and essential materials at home and abroad, just like we need now.

Join Emmy Award-winning author Steven Fenberg and former International Monetary Fund senior economist Alphecca Muttardy for a compelling Zoom dialogue on May 16, 2025. They will show how the profound successes of the RFC can be adapted to address the urgent needs of the United States today.

Watch this critical and timely forum to learn how to help repair and rebuild our nation now.

Steven Fenberg has written extensively about the Reconstruction Finance Corporation. Fenberg is the executive producer of the Emmy Award-winning documentary “Brother, Can You Spare a Billion,” narrated by Walter Cronkite and broadcast nationally on PBS. He is also the author of “Unprecedented Power: Jesse Jones, Capitalism and the Common Good,” a comprehensive, award-winning examination of the RFC. See www.stevenfenberg.com for more information.

Alphecca Muttardy is a former International Monetary Fund Senior Economist, IMF Resident Representative to Ghana, and is the chief economic advisor of the Coalition for a National Infrastructure Bank (NIB). Muttardy has given expert testimony in dozens of state legislatures and city and county councils across the nation on the NIB.

Video: National Infrastructure Bank: The Economic “Shot Heard Round the World”!! - National Zoom Town Hall, April 24, 2025

Wed, 30 Apr 2025 21:54:53 GMT

On April 24, 2025, Illinois State Senator David Koehler, former Kansas City Mayor Sly James, and Public Banking Institute Founder Ellen Brown, Esq., were joined by other elected officials for an urgent Zoom Forum, “National Infrastructure Bank: The Economic ‘Shot Heard Round the World’”!!

This week, the United States celebrated the 250 ^th anniversary of the beginning of the American Revolution, with the “Shot Heard Round the World” at Concord and Lexington. Following the military campaign, the U.S. created an economic model, the American System, that became the envy of the world. The system was devised in large measure by Founder Alexander Hamilton, the first Treasury Secretary and Revolutionary War colonel. The pillars of the policy included a National Bank to generate directed credit to build internal improvements and manufacturing.

As the United States economy hurtles towards a recession or worse, support for the National Infrastructure Bank (NIB) policy continues to grow. The Zoom Town Hall provided a platform for discussion for an urgent policy to rebuild the nation, only provided by the NIB Coalition.

Resolutions endorsing the NIB have been introduced into more elected bodies, including the Pennsylvania House, the North Carolina House, and more. On April 12, Coalition representatives Alphecca Muttardy and Julie Olsen were featured speakers at the quarterly meeting of the National Federation of Democratic Women Western Region.

On April 16, the Delaware County Council (Pennsylvania) introduced and passed a resolution urging Congress to enact the NIB. The Delaware County Council meeting featured presentations from city council members in the County and passionate speeches from County Council members. Support for the Delaware County resolution reflects the urgent need for the NIB. The County is facing devastating economic and infrastructure crises.

· Two hospitals have recently closed, and a third one is about to be shuttered. This will leave thousands of citizens in the lurch and cause 3,000 layoffs of hospital employees.

· The only public transportation service in the Philadelphia region, SEPTA, is planning to cut service by 45% and raise fares on the remaining lines!

Resistance to the madness coming out of Washington is critical. Creating the National Infrastructure Bank and implementing economic development policies is the only way to end the crisis and build the Nation.

Honor the courage of Lexington and Concord. Fire the Economic “Shot Heard Round the World”! ( Watch the video here .)

Speakers:

Alphecca Muttardy , former Senior Economist, International Monetary Fund, Fairfax, VA

Illinois Senator David Koehler , Peoria, IL

Mayor Sly James (former), Kansas City, MO

Ellen Brown, Esq., Author and Founder Public Banking Institute, Los Angeles, CA

Councilwoman Christine Reuther , Delaware County, Wallingford, PA

Representative Jasmine Clark , Lilburn, GA

Delegate Chao Wu , Howard County, MD

Mayor Randolph Voller (former), Pittsboro, NC

Moderator: Julie Olsen , small business owner, Chair Progressive Caucus, Alaska Democratic Party, Anchorage, AK

Video: National Infrastructure Bank Will Stop a Recession Dead in Its Tracks! NIB March 27 Zoom Town Hall

Sun, 06 Apr 2025 15:27:09 GMT

Ellen Brown, Esq., author and Founder Public Banking Institute, Randolph Voller, President-elect Orange Chatham Association of Realtors, former Mayor Pittsboro, NC, and Alphecca Muttardy, former Senior Economist International Monetary Fund, were joined by elected officials for a national Zoom meeting March 27,2025, “National Infrastructure Bank Will Stop a Recession Dead in Its Tracks!”

This timely Zoom Town Hall unleashed a dramatic discussion among the informed participants of what can be done about the economic crisis from the standpoint of a National Infrastructure Bank.

With the U.S. economy being buffeted by a stream of conflicting reports and policies, only one clear proposal has emerged above the fray. Interest and support for the National Infrastructure Bank (NIB) has continued to surge. The interest spans both parties.

State legislatures and city and county councils are filing new resolutions of endorsement. Many are bipartisan, from Illinois to Massachusetts. There have been excellent hearings in the Georgia and Maryland legislatures.

There have been nearly 30 zoom meetings with congressional and legislative offices in the past month, and the vast majority are with Republican elected officials.

Economic forecasts from the Federal Reserve, Goldman Sachs, the International Monetary Fund and others all point to a possible recession around the corner. Contributing factors include: falling consumer sentiment, policy uncertainty, expanding government and private sector layoffs, the $36 trillion federal debt, and possible tariff blowbacks.

The National Infrastructure Bank will stop a recession dead in its tracks!!

The NIB is a $5 trillion public institution that will invest in hard infrastructure only. It will modernize everything from ports, to mass transit to high-speed rail. It will quickly replace the 10 million lead water lines causing irreparable harm to our citizens. It requires no new federal spending or taxes! This has been done before in US history.

The NIB will create 20 million or more new high-wage jobs! It can hire all those who lose their employment into great, new productive jobs, building the economy.

There is no alternative! Find out how you can help make this a reality.

Speakers:

Hon. Randolph Voller , President-elect Orange Chatham Association of Realtors, and former Mayor Pittsboro, NC

Hon. Kirkland Carden , Gwinnett County Board of Commissioners District 1, Duluth, GA

Hon. Sly James , former Mayor Kansas City, MO

Sen. Craig Wilcox , Illinois State Senate, 32nd District, McHenry, IL

Rob Kairis , President, Ravenna City Council, Ravenna, OH

Paul Johnson , Assistant Professor of Marketing and Management at Montgomery County Community College, Prospect Park, PA

Ellen Brown , author and founder Public Banking Institute, Los Angeles, CA

Alphecca Muttardy , former Senior Economist, International Monetary Fund, Fairfax, VA

Moderator: Jack Hanna , Board of Directors, Asian-American Unity Coalition, retired attorney and activist, Indiana, PA

Video, National Infrastructure Bank: Addressing the Federal Budget Crisis!

Sat, 08 Mar 2025 17:44:49 GMT

Ellen Brown, Esq., Author and Founder Public Banking Institute, Illinois Senator David Koehler, and Massachusetts Representative Danillo Sena were joined by other elected officials for a national Zoom Town Hall: “National Infrastructure Bank: Addressing the Federal Budget Crisis!

On March 14, Congress must pass a new budget or a new Continuing Resolution (CR) to maintain government funding at 2024 levels. If they fail, the government will shut down for an undetermined period! Passage of even a CR is up in the air, given the divisions in both parties and the crisis-stricken atmosphere engulfing Washington and the Nation.

Fast-moving budget cuts, layoffs, lawsuits, budget reconciliation plans, and demonstrations are impacting Congress, shaking it in ways not seen in decades. This is not Business as Usual!

In crises like this throughout American history, courageous leaders returned to the tenets of the American System, as outlined by Alexander Hamilton and others. At the center of Hamilton’s design was the creation of a National Bank, to direct credit into building infrastructure and manufacturing, and “growing the economy.” These entities have been “off the budget,” requiring little infusion from Congress!

Great presidents have embraced National Banking, including Presidents George Washington, John Quincy Adams, Abraham Lincoln, Herbert Hoover, and Franklin D. Roosevelt. The Reconstruction Finance Corporation (RFC), created by Herbert Hoover to attack the Great Depression, was upgraded by FDR to end the Depression and win WWII.

Support for a new National Infrastructure Bank (NIB) is growing. In the last Congress, H.R.4052, the National Infrastructure Bank Act, ended with 48 sponsors, over double the previous Congress. A new bill has been drafted. Support resolutions demanding its adoption have been introduced or passed by elected bodies including state legislatures Maryland, Georgia, Massachusetts, New Jersey, and Illinois. More are in the works. City and county councils are doing the same. Resolutions recently passed include Kansas City, MO, New York City, Bellingham, WA, and Ravenna, OH.

Bipartisan support is also growing. As cities and states contemplate severe cuts to infrastructure spending and government agencies, elected officials are looking “outside the box” for answers. The “off-budget” NIB is gaining traction.

Please watch this inspiring discussion and invite your friends to watch.

Speakers:

Alphecca Muttardy , former Senior Economist, International Monetary Fund, Fairfax, VA

Ellen Brown , Esq., Author and Founder Public Banking Institute, Los Angeles, CA

Rep. Danillo Sena , Massachusetts House, Middlesex, MA

Rep. Jed Davis , Illinois House, Yorkville, IL

Sen. David Koehler , Illinois Senate, Peoria, IL

Asm. Christian Barranco , New Jersey Assembly, Oak Ridge, NJ

Sen. Josh Newman , California Senate (former), Los Angeles, CA

Dr. Monica Taylor , Chair Delaware County Council, Upper Darby, PA

Moderator: Hon. Randy Voller , former Mayor Pittsboro, NC; President-Elect Orange /Chatham Association of Realtors, Pittsboro, NC

Video, No to Austerity! Yes to the National Infrastructure Bank

Sat, 01 Feb 2025 22:20:13 GMT

Public Banking Institute Founder Ellen Brown, Esq., Manufacturing Renaissance Federation leader David Robinson, and New Jersey Assemblywoman Carol Murphy were joined by other elected officials on January 23, 2025, for a Zoom Town Hall, entitled “No to Austerity! Yes to the National Infrastructure Bank!” This timely event was sponsored by the Coalition for a National Infrastructure Bank.

The event was timed with policy initiatives swirling around Washington as the new administration takes office, with two trends emerging: Cut the budget, whether through Congress or via DOGE; and NO mention of INFRASTRUCTURE SPENDING!

Unprecedented “natural disasters” are on the rise, from the ravages of Hurricane Helene to the wildfires raging through California. All of these will require increased spending for infrastructure. Additionally, the Bipartisan Infrastructure Law will expire in 2026. There is no discussion of reauthorization, which will require $550 billion in new money.

Simultaneously, the budget deficit in 2024 was $1.8 trillion! Projections are for continuing shortfalls over $1 trillion per year for the next decade. Discussions of “budget cutting” are wafting through Washington and in state legislatures.

Not to be outdone, the Department of Government Efficiency (DOGE) is demanding $2 trillion in additional budget cuts. Budget cuts, i.e. austerity, cause layoffs and retrenching, and could even bring on a recession leading to further financial shortfalls and deeper deficits. You cannot cut your way to growth! Just ask Europe.

The National Infrastructure Bank is an off-budget institution which would inject $5 trillion in new investment in infrastructure projects only. It could cover the additional infrastructure rebuilds in North Carolina and California, and everything else. It has a proven track record. Similar banks built in the nation under identical circumstances. It would build the nation and ensure we grow out of our debt problems.

H.R.4052, the National Infrastructure Bank Act in the 118th Congress, ended with 48 sponsors, over double the amount in the 117th Congress! It cuts the Gordian Knot of budgetary impasses as it is “off-budget”. We are moving to reintroduce this year.

Support is already mounting. The New Jersey and Maryland State legislatures have introduced endorsement resolutions in January, and more are planned. The Bellingham, Washington City Council just passed a resolution of support.

Please watch this important event.

Speakers :

Alphecca Muttardy , former Senior Economist, International Monetary Fund, Fairfax, Va

Ellen Brown , Esq., Founder Public Banking Institute, Los Angeles

Asw. Carol Murphy , New Jersey Assembly, Mount Laurel

Rep. Jason Morgan , Michigan House of Representatives, Ann Arbor

Asm. Don Guardian , New Jersey Assembly, Atlantic City

Asw. JoAnne Simon , New York Assembly, Brooklyn

Melissa Patterson Hazley , Kansas City Missouri City Council, Kansas City

David Robinson , Director of External Affairs Manufacturing Renaissance, Chicago

Sen. Bill Tallman , New Mexico Senate, Albuquerque

Moderator: Jack Hanna , retired attorney, former Chair Pennsylvania Democratic Party, Indiana, Pa

National Infrastructure Bank Forum: Tackling the Affordable Housing Crisis

Sat, 04 Jan 2025 20:36:00 GMT

December 19, 2024 NIB Zoom Forum

Dr. Nomi Prins, Ph.D., former Managing Director Goldman Sachs, New York Assembly member Joanne Simon, and Alphecca Muttardy, former Senior Economist International Monetary Fund, were joined by housing experts in a National Zoom, on December 19, 2024, titled “National Infrastructure Bank Forum: Tackling the Affordable Housing Crisis.”

Solving the severe shortage of truly affordable housing is at the top of the list of problems gripping the nation. There is a shortage of millions of affordable dwellings nationwide. The results are mass homelessness and collapsing home sales and rentals. Skyrocketing housing costs are the leading cause of persistent inflation.

This forum focused on the conjunctural crisis of the long-developing problems and new solutions:

• Inadequate supply----Shortage of 4-7 million new units

• Cost---- Media price of a house is $420,400, 32% higher than in 2020. Median sales price is five times the median household income. Median rent is 20% higher than in 2020.

• Mortgage interest rates at 6.8%

• Home sales are at the lowest level since 1995

• Homeless population is over 650,000.

Current policies are broken! Working families and minimum-wage families cannot afford to rent, let alone buy a dwelling. People living in many public housing complexes are exposed to inhumane conditions, the result of years of federal, state and local neglect.

Aggressive new approaches are required, including “social housing,” as practiced in Vienna, Austria; land trusts; upgrade, expansion of existing housing programs, including NYCHA, Mitchell-Lama in New York.

“How to pay” hangs like the Damocles Sword over everything! One solution is the National Infrastructure Bank, as outlined in H.R.4052. This bill creates a $5 trillion public bank to invest in infrastructure. It allocates $720 billion to finance construction of 7 million new units of affordable housing. Support for the bill is expanding with 48 Congressional sponsors.

Please watch this riveting discussion and spread the word.

Speakers:

Dr. Nomi Prins , author, and former Managing Director Goldman Sachs, Los Angeles

Sarah Saadian , Senior Vice-President of Public Policy and Field Organizing, National Low Income Housing Coalition, Washington, DC

Assemblyman Alex Lee , California Assembly, sponsor AB 11, “The Social Housing Act,” Milpitas

Assemblywoman Joanne Simon , New York Assembly, Brooklyn

Senator David Koehler , Illinois Senate, Peoria

Alphecca Muttardy , former Senior Economist, International Monetary Fund, Fairfax, Va

Moderator: Julie Olsen , small business owner, Chair Progressive Caucus, Alaska Democratic Party, Anchorage, AK

New York City Council Finance Committee Hearing on National Infrastructure Bank

Fri, 27 Dec 2024 19:20:18 GMT

On December 19, 2024, the New York City Council Finance Committee sponsored a hearing on Resolution 11 in support of H.R.4052, the National Infrastructure Bank Act. Resolution 11 passed the committee, and then, passed the entire city council later that day. H.R.4052 ended the 118th U.S. Congress with 48 sponsors. Watch hearing here .

Speakers at the hearing included Dr. Nomi Prins, author, and former Managing Director Goldman Sachs; Assemblywoman Jo Anne Simon, 52nd Legislative District NY; Alphecca Muttardy, former Senior Economist International Monetary Fund; Stanley Forczek, Infrastructure Consultant, 30-year Executive Amtrak Corporation; and Gene Binder, Executive Board New York Progressive Action Network (NYPAN), Bronx, NY.

The resolution was sponsored by Crystal Hudson, Brooklyn’s Council District 35 (Crown Heights, Fort Greene). The hearing was chaired by Justin Brannan, Brooklyn’s District 47 (Bay Ridge, Coney Island). Both council members penned an OpEd published by Empire Report on December 21, 2024. Read OpEd here .

Video, High-Speed Rail, Jobs, and the National Infrastructure Bank

Mon, 25 Nov 2024 20:24:50 GMT

The November 21 NIB Zoom Town Hall provided an exciting platform to lay out a positive way forward for the country. Ellen Brown, Founder Public Banking Institute; Andy Kunz, President and CEO US High-Speed Rail Association, were joined by elected officials, to discuss “High Speed Rail, Jobs, and the National Infrastructure Bank.”

This exciting forum outlined a bold plan to build United States infrastructure and finance a long-overdue National High-Speed Rail (HSR) network, which will stimulate a resurgence of U.S. manufacturing and jobs, building upon the Bipartisan Infrastructure Law (BIL), CHIPS Act, and IRA.

The rest of the world travels along corridors of HSR. Why not the U.S.? Andy Kunz presides over the premier advocacy group and trade association in the United States promoting HSR. He is a national award-winning designer, who has testified in Congress, and appeared on a host of national media promoting this policy.

It will cost well over $1 trillion to build an initial U.S. HSR network. The BIL has less than $10 billion for high-speed rail. At the current spending rate, it will take over 100 years to build a system. China has 26,000 miles of high-speed rail and the U.S. still has zero!

U.S. infrastructure is in a state of systemic decline. The Bipartisan Infrastructure Law helped slow that decline, but it was far too small, and will expire in 2026. Enormous U.S. budget deficits and mounting debt make even renewal of that minimal amount unlikely. Hence the need for an off-budget solution.

Ellen Brown elaborated on her recently penned article in ScheerPost on the infrastructure crisis in the aftermath of Hurricane Helene, the National Infrastructure Bank and Public Banking.

The National Infrastructure Bank, as outlined in U.S. House bill H.R.4052, will have $5 trillion to invest in all infrastructure projects, including $1.1trillion for HSR. H.R.4052 currently has 42 sponsors.

Coming out of the dramatic election on November 5, this forum is just what the Nation needs to provide a bold path of real economic expansion. Please watch this important webinar .

Speakers:

Alphecca Muttardy , former Senior Economist, International Monetary Fund, Fairfax, Va

Ellen Brown , Esq., Founder Public Banking Institute, Los Angeles

Andy Kunz , President and CEO, US High Speed Rail Association, DC

Assemblywoman Maryjane Shimsky , New York Assembly, Dobbs Ferry

Senator Bill Tallman , New Mexico Senate, Albuquerque

Moderator: Julie Olsen , small business owner, Chair Progressive Caucus, Alaska Democratic Party, Anchorage, AK

Video, President Franklin Roosevelt’s Model for a New National Infrastructure Bank

Mon, 28 Oct 2024 19:43:07 GMT

With no new federal taxes or debt, President Franklin Roosevelt’s Reconstruction Finance Corporation (RFC) spread electricity throughout the nation; built highways, bridges, tunnels and municipal water systems; financed the development of high-speed trains; helped people rebuild their lives destroyed by natural disasters; and saved thousands of homes, businesses, farms and banks from bankruptcy. Then the RFC transformed the U.S. military from 17th in size into the world’s Arsenal of Democracy. The RFC built and owned the enormous plants that manufactured the airplanes, trucks, ships and tanks required to win WWII and leased them to corporations to operate. It created vital and enduring industries from scratch and produced and amassed strategic and essential materials at home and abroad, just like what we need now.

Congressional bill H.R.4052 with more than 40 sponsors is poised to implement a transformational national infrastructure bank modeled on the successes of the RFC.

Emmy Award-winning author Steven Fenberg and former International Monetary Fund senior economist Alphecca Muttardy joined for a compelling Zoom dialogue on October 24, 2024. Watch now how the profound successes of the Reconstruction Finance Corporation can be adapted to address the urgent needs of the United States today.

Learn how to help repair and rebuild our nation. ( Watch the video here .)

Steven Fenberg has written extensively about the Reconstruction Finance Corporation. Fenberg is the executive producer of the Emmy Award-winning documentary “Brother, Can You Spare a Billion,” which was narrated by Walter Cronkite and broadcast nationally on PBS. He is also the author of “Unprecedented Power: Jesse Jones, Capitalism and the Common Good,” a comprehensive award-winning examination of the RFC. See www.stevenfenberg.com for more information.

Alphecca Muttardy is a former International Monetary Fund senior economist and is the chief economic advisor of the Coalition for a National Infrastructure Bank.

Video, The National Infrastructure Bank: Financing the Opportunity Economy

Thu, 03 Oct 2024 23:21:31 GMT

On September 26, 2024, the Coalition for a National Infrastructure Bank (NIB) hosted a Zoom Town Hall, one month after our successful intervention at the Democratic National Convention. The Town Hall proved to be the perfect venue to further promote the urgent need for the NIB. Several elected officials who addressed the Town Hall were present at the DNC and participated in panel discussions sponsored by the Coalition. The September 26 Zoom forum further provides the way forward for our country, by detailing how an “opportunity” economy, as labeled by Vice President Harris, would be financed. Please watch this crucial video .

As the presidential election proceeds, the NIB Coalition is on the ground to maximizing our initiative and continuing to intervene on economic policy. We are spreading the word in every way we can. We are intervening with the media, and interviewing on Podcasts. We are redesigning our website, with new videos that were prepared for the DNC, in addition to updating our photo gallery, so you can see the Coalition hard at work. We are pulling out all the stops to educate the American people on the positive way forward for our nation. It is imperative that people learn why this important part of American history must be restored.

We are on a forced march from now until the election. We call on everyone to participate. This is an opportunity not to be missed. We are going for more cosponsors on HR4052. We ask you to circulate the NIB flyer at campaign events in your area.

There is no magic bullet. We are having an impact, but we must do more.

Please make a financial contribution today to help bring this campaign to life.

Speakers:

Alphecca Muttardy , former 25-year Senior Economist, International Monetary Fund, Fairfax, Va

Rep. Justin Fleming , Pennsylvania House of Representatives, Dauphin

Senator Jamie Eldridge , Massachusetts Senate, Marlborough, Ma

Rep. Emily Kinkead , Pennsylvania House of Representatives, Brighton Heights

Senator David Koehler , Illinois Senate, Peoria

Randy Voller , former Chair, North Carolina Democratic Party, Pittsboro

Delegate Lily Qi , Maryland House of Delegates, Montgomery Co

Carlos Calzadilla-Palacio , Chair, Brooklyn New York Young Democrats, Brooklyn

Rep. Carolyn Logan , North Carolina House of Representatives, Mecklenburg

Jack Hanna, Esq. , former Chair Pennsylvania Democratic, Indiana, Pa

American Heroes Group Radio Interviews Economist Alphecca Muttardy

Mon, 09 Sep 2024 20:31:47 GMT

On September 4, 2024, U.S. Army Retired Colonel Dr. Damon T. Arnold hosted macroeconomist Alphecca Muttardy, Chief Economic Adviser for the Coalition for a National Infrastructure Bank, on American Heroes Group Radio. In this episode, host Arnold dives deep into the critical need for a $5 trillion National Infrastructure Bank to revitalize America’s infrastructure and economy. Ms. Muttardy discusses Congressman Danny Davis's bill, H.R.4052, and how this bank will finance essential infrastructure projects, create millions of well-paying jobs, and address pressing issues like climate change, affordable housing, and job training for veterans. Learn about the history behind this proposal and how it could reshape the American

economy for the better.

Please watch this important interview.

Partial transcript:

HOST: Today is Wednesday September 4th 2024 and I am your host US Army retired Colonel and Veteran combat medic Dr. Damon T Arnold and I have a distinguished guest today, Alphecca Muttardy, a professional macroeconomist, former senior Economist International monetary fund. She's also chief economic advisor for the Coalition for a National Infrastructure Bank. I was able to hear the talks that were given at the DNC, and I'm sure they've done this across the board with different groups, but they are a group that's dedicated to what I think is a genius plan, a genius viewpoint on how to build our infrastructure, and I'm just amazed at the information that I received during that meeting. The discussion is that the Illinois 7th Congressional District Congressman Danny Davis National Infrastructure Bank (NIB) Coalition $5 trillion Bank agenda to fund US infrastructure.

Alphecca, Why don't you give us an overview and welcome to America Heroes Group, but I was really blown away by the presenters at the DNC, who were talking about the NIB and why it's so important for us to be supporting this and the people in this country. This is a fantastic idea so why don't you just give us an overview of what this whole initiative is.

ALPHECCA: I am a macroeconomist. That means I look at the big picture of what's happening with the economy. I worked for 25 years at the international monetary fund and when I retired, I thought maybe it would be a good idea to apply my skills to see if I could help with an American policy that would help the American economy and American workers, and this really is it.

Congressman Davis has introduced a Bill in Congress, H.R.4052, to create a $5 trillion public bank to lend for infrastructure projects all around the country. Why do we need one of those? Because we just cannot adequately finance infrastructure either through the federal budget, the state and local budgets, or private capital money. We have money being spent by those different entities but it's not enough. I'll show you some examples in just a minute, but the idea is this bank will complement budgets and top up all the financing that we need to invest in our economy, invest in our country, fix our bridges, and replace all of the lead water service lines. For example, in Illinois, which has the second largest number the country, fix our roads, build High-Speed Rail, build much more affordable housing and restructure the American Workforce, so that we have much better paying jobs for families to enable them to actually pay their bills.

And, it's not a new idea. It's been done many times before in our nation's history. The banks aren't around anymore because they their charters timed out but other countries around the world use our model and they call it the American system and they have permanent banks in place to finance their infrastructure. (cont)

Read entire interview here .

Video, August 15, 1971, Nixon Deregulates Dollar: The National Infrastructure Bank Will Reverse the 50-Year Economic Decline

Tue, 20 Aug 2024 23:05:50 GMT

August 15, 2024

Dr. Nomi Prins, Ph.D., author and former Managing Director Goldman Sachs, Ellen Brown, Founder Public Banking Institute, and Alphecca Muttardy, former Senior Economist, International Monetary Fund were joined by elected officials for a Zoom forum, “August 15, 1971, Nixon Deregulates Dollar: The National Infrastructure Bank Will Reverse the 50-Year Economic Decline,” on August 15, 2024.

Economic blunders can have disastrous consequences!! On August 15, 1971, President Richard Nixon took the U.S. dollar off the gold standard, ending the Bretton Woods era of regulated banking and economic development. This watershed moment triggered the precipitous downward slide of the United States and the global economy. The post-WWII US economic miracle made the US the world's leading economic powerhouse of infrastructure and industrial expansion. August 15, 1971, ushered in banking deregulation, and the “financialization” of the economy. It was a metastasizing cancer. This August 15 forum will help lead the nation out of the debacle.

The landmark Biden economic legislation (Infrastructure Law, CHIPS, IRA) was a first step in reversing that trend. However, it was not large enough to overcome the damage. The critical Infrastructure Law will expire in 2026, with no replacement. All the while, income inequality has risen, the housing crisis is out of control, infrastructure continues to collapse, financial markets have morphed into huge bubbles waiting to pop, and a recession looms on the horizon. Band-aids will not stop the bleeding!

The National Infrastructure Bank policy, as embodied in H.R.4052 in Congress, is big enough to reverse the decline. The $5 trillion bank will require no new federal spending or taxes, and it can generate a return to the productive economy left behind in 1971. It will create 25 million new high-wage jobs and finance all the infrastructure we need. This will generate a long-term boom in industrial output to supply the materials and related goods to build the projects.

Support for the NIB is expanding. 38 members of Congress are cosponsoring the bill, and dozens of state legislatures and city and county councils have endorsed it. The NIB was brought to the Republican Convention and an extensive intervention in the upcoming Democratic Convention is in the works.

Watch this riveting event . This is how we Make America Build Again.

Speakers:

Alphecca Muttardy , former Senior Economist, International Monetary Fund, Fairfax, Va

Dr. Nomi Prins , Ph.D., author and former Wall Street executive, Los Angeles

Ellen Brown , Esq., Founder, Public Banking Institute, Los Angeles

Assemblywoman Joanne Simon , New York Assembly, Brooklyn

Senator David Koehler , Illinois Senate, Peoria

Alan Green , former Missouri House of Representatives, Democratic candidate MO State Auditor, St. Louis

Dennis Montoya , Past State Director, New Mexico League of United Latin American Citizens, (LULAC), Rio Rancho

Moderator: Robert Lynn Jr , Organizer UA Local 50 (ret.), Toledo, Oh

Videos: Amidst Political Turmoil, "It's Still the Infrastructure, Stupid!"

Tue, 06 Aug 2024 01:22:48 GMT

Elected officials from around the country were joined by economists, Dr. Nomi Prins, Ph.D., author and former Managing Director Goldman Sachs, and NIB Senior Economist Alphecca Muttardy, for a Zoom Town Hall, Amidst Political Turmoil, “It’s Still the Infrastructure, Stupid!”

Video excerpts are provided here from five of the speakers: New York Assemblywoman Maryjane Shimsky , Washington State Senator Liz Lovelett , Illinois State Senator Adriane Johnson , New York Assemblywoman Jo Anne Simon , and Walter Pacholczak, Associated General Contractors, New York State. In addition, is a 2-minute clip of Dr. Nomi Prins addressing the U.S. debt crisis.

In this highly-charged political and economic environment, the Coalition for a National Infrastructure Bank (NIB) is rallying the country around a bold, 21st-century economic program. The NIB is being brought to both the Republican and Democratic conventions and is sparking intense discussion.

As political events swirl around the country, the real economy unravels. The $550 billion Bipartisan Infrastructure Law was a good “band-aid” to stanch some infrastructure decline. But infrastructure needs to jump out of the headlines: Continuous shutdowns of the 100-year-old New York subway system; Amtrak train delays all summer in the Northeast Corridor due to infrastructure malfunctions; weather-related flooding in cities like Houston; power outages and bridge and dam crises across the heartland. Not to mention the IT meltdown on Friday. All of this is occurring as the U.S. debt mounts.

Resolutions of support are accelerating. The Rhode Island House of Representatives recently passed a resolution in support of H.R.4052, the National Infrastructure Bank Act. The California Assembly introduced a resolution in support of H.R.4052 at the end of June and quickly moved it through the Transportation Committee.

In Congress, H.R.4052, the National Infrastructure Bank Act, which creates a $5 trillion infrastructure bank, now has 38 sponsors. Congressional meetings are ongoing.

Simultaneously, financial markets are roiling. Shades of the dot-com bust loom large as substantial gains and losses punctuate each trading day. This is due in large measure to the AI-driven bubbles on Wall Street. Whenever the end comes, it won’t be pretty.

The NIB is a game-changer. The $5 trillion bank will move the needle on the entire economy. It will transform the financial-bubble, low-wage, and non-productive economy into a powerful infrastructure-driven behemoth. It is the guiding light out of the mine field of economic and political mayhem. Please invite your friends to watch these videos and find out more.

June 18 Video, National Infrastructure Bank to the Rescue: Reversing the Ever-Deepening US Infrastructure Crisis

Tue, 25 Jun 2024 00:33:31 GMT

Author and former Wall Street Executive Dr. Nomi Prins, Ellen Brown, Chair Public Banking Institute, and Washington State Senator Robert Hasegawa were joined by other elected officials for a Zoom Town Hall “National Infrastructure Bank to the Rescue: Reversing the Ever-Deepening US Infrastructure Crisis” on June 18, 2024. ( Watch here .)

The Coalition for a National Infrastructure Bank (NIB) hosted this critical event in the campaign to build American infrastructure and spark a massive industrial revival. Support for the NIB is growing precisely as the needs of the country deepen. The brand new report of the American Society of Civil Engineers (ASCE) concludes that ‘even with implementation of the Infrastructure Investment and Jobs Act in 2021, the new infrastructure deficit in the country has increased by over $300 billion to near $3 trillion. And that figure is a vast understatement.

According to ASCE, if the current level of funding is not maintained when the IIJA expires in 2025, the deficit will be off the charts! Unless we implement the NIB.

Current developments underscore this.

The recent, simultaneous bursting of several major water mains in Atlanta shut the city down for days. One pipe was 125 years old! Total cost to replace the antiquated system will be in the billions of dollars
A large chunk of the well-traveled Teton Pass Road collapsed after a landslide in Wyoming. This has shut down traffic indefinitely.
The US 50 Bridge over the Blue Mesa Reservoir in Colorado was closed on an emergency basis in April when numbers of cracks were discovered in the 1500-foot steel span. Repairs or possible replacement of the bridge could take months. Traffic detours are now taking six hours or more!

Support for the NIB has been growing. In Congress, HR4052, the National Infrastructure Bank Act, now has 37 sponsors. In addition, the Rhode Island State House of Representatives became the latest legislative chamber to pass a resolution in support of HR 4052.

Similar resolutions are now circulating among state Democratic Parties and caucuses heading toward the August National Convention.

The NIB will be faster than a speeding bullet, more powerful than a High-Speed Rail locomotive, and able to build big projects for the whole country. Become a Superhero for the nation! Please join this event.

Speakers:

Alphecca Muttardy , former Senior Economist, IMF, Fairfax, VA

Dr. Nomi Prins , Ph.D., author and former Managing Director Goldman Sachs and other Wall Street investment banks, Los Angeles

Rep. Scott Conklin , Pennsylvania House of Representatives, Rush Township

Ellen Brown , Esq., Chair Public Banking Institute, Los Angeles

Sen. Robert Hasegawa , Washington State Senate, Tukwila

Sen. Bill Tallman , New Mexico Senate, Albuquerque

Sen. Michael Moore , Massachusetts Senate, Worcester

Rep. Thomas Jackson , Alabama House of Representatives, Thomasville

Moderator: Julie Olsen , MBA, Chair Progressive Caucus, Alaska Dem Party, Anchorage

Video: National Infrastructure Bank: An Idea Whose Time Has Come

Tue, 04 Jun 2024 00:40:50 GMT

The May 21 NIB Zoom Town Hall, “National Infrastructure Bank: An Idea Whose Time Has Come,” featured author and former Managing Director of Goldman Sachs, Dr. Nomi Prins, Economist Alphecca Muttardy, and a wide variety of elected officials.

The webinar focused on moving the United States boldly into the 21 ^st Century, and that a dramatic transformation of our infrastructure can no longer be delayed. The Bipartisan Infrastructure Law (BIL) which passed in 2021, is good, but at $550 billion, too small. It will expire in two and a half years, and there is no Plan B. Congress is running annual deficits of $1-2 trillion, so there is no source of money in the budget. The private capital markets will not, and cannot, finance the need. The requirements dwarf conventional funding sources:

· $100 billion to replace all lead water service lines immediately

· $900 billion to upgrade and modernize all drinking water, wastewater,

· stormwater, and other systems.

· $20 trillion to upgrade the power grid

· $1 trillion for a phase one High-Speed Rail system

· $319 billion to bring US bridges to a state of good repair

As this discrepancy between needed and available money has grown, support for the National Infrastructure Bank policy has also mushroomed. H.R.4052, the National Infrastructure Bank Act (NIB), would create a permanent $5 trillion bank to lend for infrastructure only. Like others before, it would be “off-budget!” It has been done successfully in US history. There are now 35 sponsors on the bill.

On April 30, the Coalition for a National Infrastructure Bank, in conjunction with the lead sponsor on H.R.4052, Congressman Danny Davis (Ill.-7 ^th CD), hosted a very successful official briefing on Capitol Hill. Attendance was bipartisan, and the event featured four excellent proponents of the NIB. In addition, resolutions of support continue to be introduced into state legislatures, most recently in the Ohio State Senate.

There is no more time to waste. Either we move “heaven and earth” to create the NIB, or watch more Baltimore bridge collapses and lead water poisoning of millions of our children.

Watch this lively exchange of ideas and spread the word. ( Video here .)

Speakers:

Alphecca Muttardy , former Senior Economist, International Monetary Fund, Fairfax, VA

Dr. Nomi Prins , PhD., author and former Managing Director Goldman Sachs, Bear Stearns, Los Angeles, CA

Sen. Johnny Ray Salling , Maryland Senate, Dundalk, MD

Del. Lily Qi , Maryland House of Delegates, Rockville, MD

Rep. Steven Owens , Massachusetts House of Representatives, Watertown, MA

Marc Ayers , Sangamon County Board, Springfield, IL

John Heroff , Director of Legislative Affairs, Committee on Workforce Development, Chicago Board of Aldermen, Chicago, IL

Julie Olsen , Small Business Owner; Political activist, Anchorage, AK

Moderator: Robert Lynn Jr. , Secretary, Jobs with Justice, Toledo, OH

Video: The Federal Cupboard is Bare: National Infrastructure Bank to the Rescue

183:824434346 (Mark Fairchild) — Thu, 23 May 2024 21:05:07 GMT

The April 25 NIB Zoom Town Hall, “The Federal Cupboard is Bare: National Infrastructure Bank to the Rescue,” was headlined by Dr. Nomi Prins, Ph.d., former Managing Director Goldman Sachs; Ellen Brown, Esq., Chair Public Banking Institute; and Senator David Koehler, Illinois Senate. They were joined by other elected officials, including Illinois Congressman Jesus “Chuy” Garcia, a cosponsor of H.R.4052 The taped video presentation by the Congressman focused on the urgent infrastructure needs in Illinois and why he supports the National Infrastructure Bank legislation.

The webinar addressed the obvious crossroads the country is at with regards to building the real, productive economy. Yes, there are more jobs being created, but the vast majority are non-productive, low-wage service jobs. To its credit, spending through the Bipartisan Infrastructure Law (BIL) has plugged many holes, so to speak. But the need is many times greater than the $550 billion that this bill will spend. And it will expire in two and a half years.

As an example, recent studies peg the cost to replace lead water service lines and remove cancer-causing PFAs from our water supply at hundreds of billions of dollars! When you add in fixing and modernizing the entire water supply, the total cost is expected to cross $1 trillion! The BIL has $55 billion allocated to repair all water infrastructure!

This money cannot come from the federal budget. The budget deficit is running at well over $1 trillion per year; interest on the debt is now larger than the defense budget; and the national debt will soon exceed $35 trillion. The cupboard is bare, and Mother Hubbard is in line for food stamps!

Hence, support for the off-budget National Infrastructure Bank (NIB) is growing. There are 33 sponsors in Congress on H.R.4052, and more are being added. Non-stop meetings are occurring with congressional offices and members, as well as state officials around the nation. These meetings are bipartisan, though no Republican has yet to summon the chutzpah to cosponsor.

Discussion entailed on the recent collapse of the Francis Scott Key Bridge in Baltimore, and how it was avoidable, if necessary barriers had been erected. A recent New York Times report says that over 300 large bridges are in the same terrible predicament. The biggest problem is the lack of affordable housing. Only the NIB can finance the seven million new units needed to resolve the crisis.

Please watch this Zoom Town Hall and help mobilize support for the NIB.

Speakers :

Congressman Jesus “Chuy” Garcia , (IL-4 ^th ). Chicago (video)

Alphecca Muttardy , former Senior Economist, International Monetary Fund, Fairfax VA

Ellen Brown , Esq. Chair Public Banking Institute, Los Angeles

Dr. Nomi Prins , Ph.D., Author, former Managing Director, Goldman Sachs, Los Angeles

Sen. David Koehler , Illinois Senate, Peoria

Del. Chao Wu , Maryland House of Delegates, Howard County

Rayellen Smith , Chair Indivisible Albuquerque; Treasurer, New Mexico Democratic Party, Albuquerque

Rep. Arthur Hand y, Rhode Island House of Representatives, Cranston

Moderator: Julie Olsen , MBA, Chair Progressive Caucus, Alaska Democratic Party, Anchorage

NIB Coalition Co-Sponsors Congressional Staff Briefing on H.R.4052

Thu, 02 May 2024 19:59:38 GMT

On April 30, the Coalition for a National Infrastructure Bank (NIB), in conjunction with Congressman Danny Davis, co-sponsored a briefing for Congressional staff on the National Infrastructure Bank Act of 2023, H.R.4052. Congressman Davis is the lead sponsor of this bill, which currently has 33 sponsors.

Speakers included: Dr. Nomi Prins, author, and former Managing Director Goldman Sachs; Professor Philip Harvey, Distinguished Professor of Law and Economics (Emeritus) Rutgers Law School (by Zoom); Assemblywoman Jo Anne Simon, 52nd Legislative District NY; and former Senior Economist at the International Monetary Fund Alphecca Muttardy. (Pictured top left to right.)

Sixteen Congressional offices sent representatives to the event, along with many non-governmental groups. The speakers were excellent, making the incontrovertible case on the need for the NIB. While praising the “good start” of the Bipartisan Infrastructure Law (BIL), which passed in 2021, the speeches expounded on the need for the NIB. Assemblywoman Simon detailed the entire budget of New York State as a case in point. She outlined the growing discrepancy between the needs and money available. From lead water service line replacement, to building and upgrading water and sewer lines, modernizing the 100-year old subway system, and ending the desperate shortage of affordable housing, the Assemblywoman made the case for the NIB. The NIB could provide all the necessary finances to build everything, and that’s just in New York.

The other speakers filled in the national picture. They elaborated on all aspects of how the NIB works, from capitalization to funding local projects. They hammered home several ideas: That this has been done before (much to the shock of the audience who had no idea); that it would require no infusion from the federal budget, and that similar institutions are using this American model from around the world.

The timeliness of this forum could not be overstated. With a growing budget deficit (over $1 trillion per year), Congress has been wrangling for months over how to pay for everything. But the cupboard is bare! Meanwhile the infrastructure needs just keep increasing.

As our grassroots movement continues to grow, we need your help to get more cosponsors to H.R.4052. Please join the effort!

2024 Progressive Platform Proposals Include HR4052, National Infrastructure Bank

Mon, 08 Apr 2024 23:15:49 GMT

On April 8, 2024, the following was released to the media: “Our Revolution, Progressive Democrats of America, and The State Democratic Party Progressive Network Introduce 2024 Progressive Platform Proposals (PPP).” Included in the Progressive Platform is a significant plank in support of HR4052, and the National Infrastructure Bank.

The 2024 presidential election presents a challenge for progressives to preserve and amplify our voice while fighting the most dangerous threat to US democracy in our nation’s history.

We believe our best strategy to advance both goals is for progressives to advocate for a policy agenda that builds and expands upon progressive elements of President Biden’s original Build Back Better (BBB) plan, become state and national delegates at the Democratic Party conventions, and elect President Biden for a second term.

With our support and voice, progressives may persuade and enable President Biden to achieve more progressive policy objectives during his second term and prevent a fascist takeover.

Therefore, we will submit the following policy proposals to the Democratic Party Platform Committee in advance of this summer’s Democratic National Convention in Chicago, and we will organize support for these proposals across the country in the lead up to the DNC.

We intend this to be a unifying effort, urge the second Biden administration to fulfill the ten (10) policy objectives outlined in these proposals, and invite the Democratic presidential campaign to engage in dialogue with us to achieve unity and progressive electoral support around them.

Use all means available to establish an adequately sized National Infrastructure Bank (NIB), as conceived in HR 4052 (118th Congress), and called for in the 2020 DNC platform, to bolster and complement the Infrastructure Investment and Jobs Act (IIJA), Inflation Reduction Act (IRA), and CHIPS Act.

This “NIB” will be a separate institution operating alongside the Budget, designed to complement existing capital improvements currently being financed through Federal, state, and local budgets. It is set up as a federally established, mixed-ownership , incorporated bank, and capitalized with Treasury securities held by the private sector. Because the NIB will be financially self-sufficient, it does not rely on Federal taxes, spending, or debt. With a lending capacity of $5 trillion, the NIB is large enough to fully cover the $2.6 trillion infrastructure financing gap identified by the American Society of Civil Engineers, as well as other needed projects like affordable housing and high speed rail. This bill is labor friendly, requiring union-level Davis-Bacon Wages, Buy America, and project labor agreements in the states where the latter are permitted. And it will create up to 25 million new family-sustaining wage jobs for low- and middle-income workers who need them the most. Meanwhile, the NIB will supercharge economic growth , with no new inflation , and improve local revenues, ensuring that all loans are repaid. This New Deal policy has been instituted successfully four times before in our nation’s history, starting with the First Bank of the United States created in 1791 by Treasury Secretary Alexander Hamilton, and ending with FDR’s Reconstruction Finance Corporation (RFC). The NIB is strongly endorsed by state and local government officials across the country.

March 21 Video: Infrastructure Crises Multiply While Support for National Infrastructure Bank Grows

Tue, 02 Apr 2024 19:12:28 GMT

Public Banking Institute Chair Ellen Brown, Esq., Rhode Island Senator Louis DiPalma, and Pennsylvania Representative Mary Jo Daley, were joined by other elected officials for an evening Zoom Town Hall, “Infrastructure Crises Multiply While Support for National Infrastructure Bank Grows,” on March 21, 2024.

The ongoing partial shutdown of the Washington Bridge in Rhode Island, and the decision to demolish and replace half the bridge highlights again the severe infrastructure crisis in the United States. The Washington Bridge is a major artery carrying Interstate 195 in and out of Providence, the capital, and it will take at least three years to replace the bridge!

The Bipartisan Infrastructure Law (BIL) is a crucial “down payment” on fixing key infrastructure problems. But the need dwarfs the $550 billion in new investment of that law. Any one of many problems could erupt into public view, like the Rhode Island bridge.

The number of high-hazard-potential dams in the United States now tops 15,000. Many were built during or before the WWII era and have been widely neglected since then.
One out of three U.S. bridges must be replaced or repaired. That’s more than 222,000 bridges, of which 76,600 need to be replaced. Every county in the country has bridges that need to be replaced.
On November 30, 2023, the Environmental Protection Agency issued a rule requiring all lead water service lines be replaced within ten years. They provided no new money to do this! The BIL has $15 billion to replace all lead lines. The total cost will exceed $100 billion.

Hence, support for the $5 trillion National Infrastructure Bank has been expanding. There are already many more cosponsors on the congressional bill, HR4052, than cosponsored in the last Congress. More state and local resolutions have been introduced urging support for the legislation, including recent resolutions in the Indiana, Wisconsin and Rhode Island legislatures.

There have also been a flurry of media articles touting the contributions of Founding Father Alexander Hamilton, who led the effort to create the American System of economic development. A cornerstone of that system was Hamilton’s Bank of the United States. It is one model of the current National Infrastructure Bank. In the past two weeks alone, articles on Hamilton have appeared in the New York Times, Bloomberg News and the scholarly American Journal of Legal History.

The campaign to create the National Infrastructure Bank policy unites past, present and future. Please watch this crucial webinar.

Speakers:

Alphecca Muttardy , former Senior Economist, International Monetary Fund, VA

Rep. Mary Jo Daley , Pennsylvania House of Representatives, Conshohocken

Ellen Brown, Esq. , author, and Chair Public Banking Institute, Los Angeles

Rep. Brian Munroe , Pennsylvania House of Representatives, Warminster

Rep. Joey Andrews , Michigan House of Representatives, St. Joseph

Rep. Donavan McKinney , Michigan House of Representatives, Detroit

Sen. Louis DiPalma , Rhode Island Senate, Middletown

Sen. Bill Tallman , New Mexico Senate, Albuquerque

Councilman Michael Balls , Saginaw City Council, MI

Dr. Andrew Winnick , former Professor of Economics and Monetary Policy, Cal State; Los Angeles

Moderator: Julie Olsen , Small Business Owner, Chair, Alaska Democratic Party Progressive Caucus, Anchorage

March 13 Video: A New Reconstruction Finance Corporation Can Rebuild the USA

Sat, 16 Mar 2024 18:15:48 GMT

Emmy Award-winning filmmaker and author Steven Fenberg and former senior International Monetary Fund economist Alphecca Muttardy uniquely demonstrate how the Reconstruction Finance Corporation (RFC) stabilized and expanded the shattered U.S. economy during the Great Depression, militarized industry in time to win World War II and how at no cost to taxpayers the RFC’s successful strategies can be adapted to address today’s daunting challenges.

The RFC built bridges, highways, tunnels and aqueducts throughout the nation; developed the latest in high-speed trains; brought electricity to unserved rural areas; and saved thousands of homes, banks, businesses and farms from bankruptcy during the Great Depression, all at no cost to taxpayers. Then it built massive factories and leased them to corporations to manufacture the tanks, ships, airplanes and trucks required to win World War II.

National Infrastructure Bank Bill HR4052 is pending in the United States Congress to create a similar agency that will repair and update the nation’s crumbling infrastructure and provide services to modernize, improve and protect life. The promising bill has 28 sponsors.

Watch this video for a compelling and optimistic Zoom discussion from March 13 to learn how a new national infrastructure bank modeled on the RFC can with no new taxes or federal debt solve many of today’s pressing problems.

For more information see: www.nibcoalition.com and www.stevenfenberg.com

Feb 29 Video: The National Bank Alternative to Congressional Economic Dysfunction

Sun, 10 Mar 2024 19:03:15 GMT

Author and Financial Expert Dr. Nomi Prins, Public Banking Chair Ellen Brown, and Rhode Island State Representative Arthur Handy were joined by other elected officials for a Zoom Town Hall entitled “The National Bank Alternative to Congressional Economic Dysfunction” on February 29, 2024. ( Watch here .)

Setting the stage for this timely event, was Illinois Congresswoman Delia Ramirez (D-3rd), who delivered an inspiring 3-minute address via video. Rep. Ramirez is among the 27 members of Congress who are cosponsors of H.R.4052.

On February 28, Congress returned from a long, unwarranted, “Work Period” to tackle, yet again, their inability to craft a budget for the United States government. On March 1, they had to pass the first segment of the budget, kick the can down the road, or shutter parts of the government.

Driving this situation are the ever-deepening federal, state, and municipal budget deficits. While any recession has been averted in the short term, the economy is stuck in a persistent low-growth mode. High debt and ongoing deficits are the result, and they are strangling the real economy. Beyond the partisan rancor, a new Broadway play will likely open soon: “How Not to Succeed in Governing Without Really Trying.”

The alternative is to return to the American System of national banking and industrial growth. Support for national banking in all forms is growing. More sponsors are being added to the Congressional bill to create a National Infrastructure Bank, and new initiatives are developing to create state public banks. Resolutions in support of the National Infrastructure Bank have been recently introduced into many legislatures, including Illinois, Michigan, Utah, Kentucky, Rhode Island. New Jersey, New Mexico Wisconsin and more. A new resolution has been sponsored in the New York City Council.

The solution to the crisis in Congress is to restore long-term real economic growth driven by ever expanding infrastructure and industrial development. There must be a shift out of the low-wage service, hospitality, and consumer economy back to real production. While the latest AI craze has some very important benefits, computers cannot think (!), and cannot produce real physical goods! That requires millions of new, high-wage, infrastructure and related jobs.

Every day Europe is dramatically expanding its High-Speed rail service all across the continent, while the U.S. has yet to complete one high-speed line.

The National Infrastructure Bank is the vehicle to alter this situation. The $5 trillion infrastructure-only bank can finance a complete overhaul of our antiquated system and launch an industrial recovery. While Congress procrastinates, the Coalition is mobilizing to ensure that our Nation makes the required leap into the future. Please view this timely event and spread the word.

Speakers :

Illinois U.S. Rep Delia Ramirez (D-3rd), Chicago

Alphecca Muttardy , former Senior Economist, International Monetary Fund, Fairfax VA

Dr. Nomi Prins , author and former Managing Director Goldman Sachs, Los Angeles

Ellen Brown , Esq, author and Chair Public Banking Institute, Los Angeles

Michael Balls , Saginaw City Council, Saginaw, MI

Rep. Gay Lynn Bennion , Utah State Legislature, Cottonwood Heights, UT

Jack Hanna , Esq, former Chair Pennsylvania Democratic Party, Indiana, PA

Rep. Harry Benton , Illinois State Legislature, Plainfield, Ill

Asw. Jo Anne Simon , New York Assembly, Brooklyn

Rep. Arthur Handy , Rhode Island State Legislature, Cranston, RI

Moderator: Julie Olsen , Chair Alaska Democratic Party Progressive Caucus, Anchorage, AK

Vermont State Rep Op-Ed Calls for National Infrastructure Bank

Tue, 13 Feb 2024 23:02:15 GMT

A National Infrastructure Bank Would Help Pay for Needed Fixes

From the House | Rep. Kate Nugent

February 8, 2024

I was recently asked to speak at a virtual national town hall on an idea and policy new to me, but which has been in existence since the founding of the United States: a national infrastructure bank.

H.R.4052 is the bill currently in Congress that would authorize this bank and there is a national coalition working to get members to co-sponsor and champion the bill. A national infrastructure bank is what Alexander Hamilton developed that allowed the states to manage their debt, create capital for funding new projects vital to the success of the new country and generate economic momentum.

At another critical time in our country’s history, a national infrastructure bank was used by President Franklin D. Roosevelt to finance much of the New Deal that helped pave the way to the strongest middle class in global history. This idea interested me for several reasons.

One, such banks are not new, and have been tested and used successfully, first here and now in many other countries. The U.S. has created five such banks during its relatively short existence as a country that, each time, have helped generate economic growth and strength.

In addition, a national infrastructure bank is outside of the normal Congressional budgeting process, so it does not require new taxes or fees, a budget agreement or a continuing resolution. In this way, it can be immune from some of the stagnation in Congress.

Finally, there is a significant need for capital investment in Vermont and across the country that has arisen from decades of deferred maintenance, underinvestment and political polarization. Such a bank would allow for financing of projects that would generate much-needed economic energy and increase revenues from existing taxation sources and avoid needing to increase taxes on the middle class at a time when most feel stymied by inflation and a stagnant housing market. School construction needs in Vermont alone are daunting relative to the current government funding capacity.

Another reason I support this: It would have benefits beyond just the physical infrastructure it would help fund, similar to how it helped our nation move out of the Great Depression, both economically and psychologically.

As we have been reckoning with our past in new ways, it seems we also need to remember the reason we are reckoning and trying to atone — we believe we are worthy of doing better. Doing better, I believe, includes and requires forgiveness and redemption so that we ensure all are included in new economic growth.

Being able to invest in projects we need right now, from energy transformation and climate-resilient downtowns to school remodeling and housing stock, in addition to bridges and roads, would have a visible and significant impact on the quality of our daily lives, on the vibrancy of our communities and on neighborhood connectivity.

Read op-ed here .

Video: The National Infrastructure Bank Solution to Congressional Insanity!

Sun, 04 Feb 2024 00:04:33 GMT

Author and former Goldman Sachs executive Dr. Nomi Prins, Ph.D., Public Banking Institution Chair Ellen Brown, Esq., and former International Monetary Fund Senior Economist Alphecca Muttardy were joined by elected officials for a NIB Zoom Town Hall, “The National Infrastructure Bank Solution to Congressional Insanity,!” on January 18, 2024. ( Watch here .)

Albert Einstein famously quipped “The definition of insanity is doing the same thing over and over again and expecting a different result.” This fits the behavior of many in Congress to a “T.” The congressional leadership will only spend through the budget. However, ever-deeper budget deficits prevent any new spending. Many are demanding more draconian budget cuts to “balance the budget.” That will cut revenue further and deepen the deficit! It will beget more cutbacks. Hence: They are insane!

On January 19, Congress, once again, could not agree on a new budget, and voted to “kick the can down the road.”

The National Infrastructure Bank (NIB) solves the problem. It works “outside the budget” and would finance $5 trillion of urgently needed new projects. It would require no new federal dollars!

Support for the NIB, as embodied in HR4052 in Congress, is growing. There are already more cosponsors on the bill than in the previous Congress. Resolutions of support are being introduced into many state legislatures. Recently, the highly-regarded Journal of Critical Infrastructure Policy carried a 10-page feature article touting the legislation.

Every day the need for new infrastructure and industrial spending grows. 10 million or more lead water service lines need to be replaced. Cost: $100 billion. Only HR4052 has the money to cover this. The cost to repair and replace all water systems, including those that are now regularly flooding, under the stress of powerful storms: $800 billion or more. Again, the NIB has all the money. National High-Speed rail network, $1 trillion or more. The NIB has the funds. And everything else.

Congress is locked into the downward spiral of budget cuts, revenue declines, and decrepit infrastructure and inadequate industry. For many members, as per Bill Murray’s character in the movie “Groundhog Day,” life is a vicious cycle of insanity.

It is time to break the loop! Watch this timely and insightful Town Hall, and help mobilize support for the NIB and HR4052. Insanity has consequences, and they are not pretty.

Speakers:

Dr. Nomi Prins , Ph.D., author and former Managing Director, Goldman Sachs Group, Los Angeles

Ellen Brown , Esq., author and Chair, Public Banking Institute, Los Angeles

Alphecca Muttardy , former Senior Economist, International Monetary Fund, Fairfax, VA

Rep. Erin Byrnes , Michigan House of Representatives, Dearborn

Rep. Kate Nugent , Vermont House of Representatives, Chittenden

Rep. Harry Benton , Illinois House of Representatives, Plainfield

Rep. Sam Park , Georgia House of Representatives, Lawrenceville

Matthew Miller , Albany County Legislature, NY

Moderator: Julie Olsen , MBA, Chair, Progressive Caucus, Alaska Democratic Party, Anchorage

Video: Congress Fiddles While the Budget Burns

Sun, 07 Jan 2024 20:16:13 GMT

NIB December 14, 2023 Zoom Town Hall

Public Banking Institute Chair Ellen Brown, Rhode Island Representative Arthur Handy, and Economist Dr. Andrew Winnick were joined by other elected officials on December 14, 2023 for a Zoom Town Hall “Congress Fiddles While the Budget Burns.”

Despite rosy pronouncements emanating from various quarters touting the strength of the US economy, underlying, deep problems remain. The most distressing signs are in the budget, or lack thereof. Since May, Congress has continually “kicked the can down the road” and resolved nothing. On January 19, 2024, Congress will again battle over the budget, with the likelihood that nothing will be done. Urgently needed spending goes unmet.
On November 30, the Environmental Protection Agency (EPA) issued a mandate that all lead service water lines (LWSL) must be replaced in ten years. There are at least 9 million lines needing replacement which will cost over $100 billion. The Bipartisan Infrastructure Law (BIL) allocates $15 billion.
One in three bridges needs to be repaired or replaced, according to ARTBA, and 7 percent are structurally deficient which will require over $250 billion.
EPA estimates that drinking water and wastewater systems will require at least $744 billion in additional investment over the next decade
A national shortage of 7.3 million affordable and available rental homes for extremely low-income renters will cost at least $700 billion.
A full US High-Speed Rail System will cost over $1 trillion. The BIL recently awarded $6 billion to partially fund two projects.

All the participants detailed how HR4052, the National Infrastructure Bank Act of 2023, would create a $5 trillion infrastructure-only bank to address all these needs and more. It will complement the BIL but be permanent and ten times larger. Best of all, the National Infrastructure Bank (NIB) will require no new federal spending or federal taxes. Watch here or below.

HR4052 currently has twenty-one sponsors, with an active campaign to seek many more. The NIB arrives just in time for Christmas. Give the gift that will never stop giving. And, spread the good word!!

Speakers:

Ellen Brown , Esq., Author and Chair Public Banking Institute, Los Angeles, CA

Representative Arthur Handy , Deputy Majority Leader, Rhode Island House, Cranston, RI

Dr. Andrew Winnick , former Professor of Economics and Monetary Policy, Cal State; former staff Presidents’ Council of Economic Advisors, Los Angeles, CA

Assemblywoman Jo Anne Simon , Esq., New York Assembly, Brooklyn, NY

Representative James Beverly , Georgia House, Macon, GA

Keith Sokolowski , Legislative Staff. Alderman Debra Silverstein, Chicago, IL

Conor Berdy , Legislative Staff, Rep. Kimberly Edwards, Michigan House, Warren, MI

Alphecca Muttardy , former Senior Economist, International Monetary Fund, Fairfax, VA

Moderator: Robert Lynn , Jr, Secretary, Jobs with Justice, Toledo; former Organizer, United Association of Plumbers and Steamfitters Local 50; Toledo, OH

Breakthrough Article Published On National Infrastructure Bank!

Sat, 23 Dec 2023 19:51:34 GMT

To Our Supporters:

Happy Holidays! On December 21, 2023, the Journal of Critical Infrastructure Policy (JCIP) published a 10-page feature article in their Fall Issue: National Infrastructure Bank: A Permanent Solution and Timely Budget Work-Around.

This article, submitted by Stanley Forczek, Coalition for a National Infrastructure Bank Advisory Board, is an important intervention into the national debate on economic policy. It openly promotes HR4052, the National Infrastructure Bank Act as the permanent solution to the Nation’s infrastructure crisis.

In their words, “JCIP provides a platform for researchers, policy makers and a range of professional groups.” JCIP publishes peer-reviewed articles and reaches a large cross-section of institutions involved in infrastructure policy.

Please share this article with friends and colleagues, and definitely with your member of Congress. We are actively seeking more cosponsors on HR4052.

You can also submit the article to other journals, newspapers, and infrastructure-related policy groups. If you are capable of getting this published, and need assistance, please reach out to the Coalition for a National Infrastructure Bank. You can contact Communications Director Angela Vullo. avullo@nibcoalition.com

Enjoy the Holiday, and please share this “present.”

Journal of Critical Infrastructure Policy • Volume 4, Number 1 • Fall 2023

December 21, 2023

National Infrastructure Bank:

A Permanent Solution and Timely Budget Work-Around

(excerpt)

The passage of time, chronic underinvestment, and climate change have left America’s public infrastructure dangerously overstretched and vulnerable. The bipartisan Infrastructure Investment and Jobs Act (IIJA) of 2021 provided billions of dollars in new Federal spending for infrastructure. While a significant start, the IIJA addressed only a small fraction of the nation’s current, unfunded needs. A $5 trillion National Infrastructure Bank, as proposed in HR4052, would fill that gap, provide technical/regulatory assistance, and turbocharge the American economy, with no need for added spending, taxes, or increases to the National Debt.

Legislation in Congress to Create a National Infrastructure Bank

As the United States grapples with the challenge of rebuilding its aging infrastructure, policy analysts agree that traditional methods may no longer suffice. The Council on Foreign Relations underscores this urgency, noting that despite the IIJA and related legislation, experts believe much more funding is required to overcome the country’s infrastructure deficit. Similarly, the National Governors Association has made a strong appeal to Congress for increased investment in water infrastructure, highlighting the critical needs for modernizing drinking and storm water systems. This raises a pivotal question: if the combined resources of federal and state budgets, along with private capital (as identified by CNIB in 2022), fall short, what alternative financing solutions can be tapped? As previously noted, addressing this gap is not just a matter of prudent policy but a crucial step towards ensuring sustainable and resilient infrastructure for future generations.

Congress is currently considering a groundbreaking legislative proposal (HR4052, as detailed on Congress.gov), aimed at revolutionizing America’s approach to infrastructure financing. This bill introduces the concept of a $5 trillion National Infrastructure Bank (NIB). Unlike traditional funding sources, the NIB, which would operate outside the national budget, represents an innovative solution to bypass the limitations of Federal and local budgets. As a federally incorporated entity (as per Wikipedia, Oct. 2023), the NIB would be uniquely capitalized by swapping existing private sector Treasuries for equity in the Bank.

This model isn’t new to American economic history. It mirrors successful precedents, such as the First Bank of the United States, established in 1791 by Treasury Secretary Alexander Hamilton (referenced in Wikipedia, Nov. 2023), and the Reconstruction Finance Corporation initiated under FDR (Butchiewicz). Like a commercial bank, the NIB would offer low-cost loans for specific infrastructure projects to entities in control of public infrastructure. The operating costs of the NIB would be minimal, requiring only a small initial appropriation from Congress (CNIB, 2021). This self-sustaining model would not only avoid adding to national deficits or debt but could provide an annual dividend payment to the government. This unique financial structure is designed to garner bipartisan support, reflecting the long-standing consensus that infrastructure development is a cross-party priority.

Conclusion

The stark reality highlighted in the 2014 “60 Minutes” documentary, America’s Crumbling Infrastructure, remains a pressing issue. Despite the clear and present danger posed by deteriorating infrastructure—from blocked ports and unstable bridges to regular electric outages and a critical housing shortage—effective solutions have been elusive. The IIJA and other recent outlays will have significant impact in this arena but does not contain sufficient financing to fundamentally improve the full range of inadequate or deteriorating infrastructures.

At this juncture, it is vital to ask: How can we finance comprehensive infrastructure that not only reach every American but also buttress our economy? Traditional approaches, limited by stretched Federal and state budgets—as well as insufficient interest from private capital markets —fall short. The answer may lie in innovative legislative solutions like HR4052, which proposes the establishment of a $5 trillion National Infrastructure Bank. This initiative is ambitious in scope and capable of addressing the entire financing gap. Moreover, it has a historical precedent, having been successfully implemented four times in U.S. history and emulated by other nations.

Download Article

View Journal

November 16 Video, The National Infrastructure Bank Can Make for a “Happier Thanksgiving”

Thu, 23 Nov 2023 17:34:56 GMT

NIB Zoom Town Hall, November 16, 2023

On November 16, Dr. Nomi Prins, Ph.D., author and former Wall Street executive; Ellen Brown, Chair, Public Banking Institute and Illinois Legislator Will Guzzardi were joined by other elected officials and labor leaders for a crucial Zoom Town Hall on the eve of the latest Congressional budget crisis, “Economic and Budget Crises Pile Up: The National Infrastructure Bank Can Make for a “Happier Thanksgiving.”

On November 17, the US Government, with the prospect of facing a shutdown, voted to “kick the can down the road,” again, until next year. With no durable solution in sight, the country enters the “Brave New World” of permanent budget crises.

More dangers lurk beneath the surface. While the October GDP figure was still high, other factors are weighing down the economy. New job hires in October were 50% lower than the revised-downward figures for September. The “higher-for-longer” interest rates are strangling much new investment. New home sales are in the tank; new home listings are anemic. Mortgage applications are falling and sales of big ticket items are all down. Commercial real estate is in a heap of trouble. The inflation rate has fallen, but the 3.8-4% increase is taking a big bite out of households.

Although the Bipartisan Infrastructure Law (BIL) is in the right direction, it is rolling out slowly and people don’t “feel” the economy growing, and are being singed by the accelerating inflation.

All the speakers addressed this crisis from the standpoint of an alternative solution centered on the National Infrastructure Bank Act, H.R.4052. The $5 trillion bank would create 25 million new high-wage jobs and would offset any slowdown or recession. It would complement the BIL and be permanent. As it is “off-budget” it costs nothing!! H.R.4052 has 19 sponsors in the Congress.

The crisis and solution were laid out in comprehensive PowerPoints, from both a current and historical perspective. The need for national banking as the only solution was embellished by Ellen Brown, who used the current model being used by China with great success.

During the Q&A, a dynamic dialogue developed between the three economists on how the Alexander Hamilton method of turning debt into equity would be applied.

Watch this riveting video discussion and act now. There is no reason for the U.S. population to suffer because Congress refuses to solve this crisis once and for all, by creating the National Infrastructure Bank.

Happy Thanksgiving!

October 19 Video, How to Beat the Congressional Budget Crisis: The National Infrastructure Bank Solution

Tue, 31 Oct 2023 12:45:39 GMT

Former IMF, macroeconomist, Alphecca Muttardy, was joined by New Mexico State Senator William Tallman and New York Assemblywoman Jo Anne Simon and others for an organizing Zoom Town Hall “How to Beat the Congressional Budget Crisis: The National Infrastructure Bank Solution,” on October 19, 2023.

The NIB Town Hall occurred as Congress plunges deeper into political and spending paralysis. On the contrary, support for H.R.4052, the National Infrastructure Bank Act, continues to expand. Introduced in late June, H.R.4052 now has 19 sponsors. Meetings with Congressional and state legislative offices are increasing.

Congress will face a new budget deadline on November 17. With a nearly $2 trillion budget shortfall, navigating this hurdle will be difficult. H.R.4052 could reverse the ongoing budget crisis. It would invest $5 trillion over ten years into the productive sectors of the economy, spearheaded by modernized and upgraded infrastructure. All with no new spending or debt!

Two years ago, three bills passed Congress injecting new money into energy generation, CHIPS manufacturing and infrastructure. This was all to the good. However, the infrastructure deficit remains at $5-8 trillion of needed new money! Without a 21 ^st Century infrastructure, the economy will flounder.

Ms. Muttardy emphasized in her opening presentation that there is an alternative. “What we need is a budget work-around that can finance all of our current needs. Legislation in Congress – HR4052 that creates a $5 trillion National Infrastructure Bank – fits that bill. It is large enough to cover all of the financing gap, it will reach into every corner of the country to bolster economies and create great-paying jobs, and it won’t cost the budget a dime. Moreover, it’s a proven concept, invented by Americans, employed four times before in our nation’s past, and copied by other countries around the world.”

The National Infrastructure Bank will lean against the looming catastrophe. Otherwise, the country will limp from crisis to crisis. Please watch this crucial video and spread the word for the only solution on the table, H.R.4052.

Speakers:

Alphecca Muttardy , former Senior Economist, International Monetary Fund, Fairfax, VA

Senator William Tallman , New Mexico Senate, Albuquerque NM

Assemblywoman Jo Anne Simon , Esq, New York Assembly, Brooklyn NY

Dr. Andrew Winnick , retired Professor Emeritus of Macro-Economics and Monetary Theory, Cal State University, Los Angeles, CA

Representative Carrie Rheingans , Michigan House of Representatives, Ann Arbor, MI

Representative Felicia Robinson , Florida House of Representatives, Miami Gardens, FL

Janet Diaz , Lancaster City Council, Chair, Latino Caucus, Pennsylvania Democratic Party, Lancaster PA

Craig Swartz , Chair, Rural Caucus, Ohio Democratic Party, Upper Sandusky, OH

Moderator: Julie Olsen , Chair, Progressive Caucus, Alaska Democratic Party, Anchorage, AK

September 28 Video, Time to Go “Off-Budget”: $5 Trillion National Infrastructure Bank Can Build the U.S.

Tue, 03 Oct 2023 21:18:23 GMT

Dr. Nomi Prins, Ph.D., author and former Wall Street executive, Washington State Senator Liz Lovelett, and Dr. Andrew Winnick, former Cal State Econ Professor, and others joined in a timely Zoom Town Hall “Time to Go ‘Off-Budget’: $5 Trillion National Infrastructure Bank Can Build the U.S.”

With our Nation plunged, yet again, into a budget crisis, with no immediate solution on the horizon, it is time to go “outside the box.” Every time the country has run aground, “off the budget” National Banks have rescued and built the economy. It’s as American as good old Apple Pie. H.R.4052 is a bill creating a $5 trillion National Infrastructure Bank (NIB), which will be off the budget!

We have had four institutions like the NIB dating back to George Washington and Alexander Hamilton and continuing through Franklin Roosevelt. We have had nothing since the 1950s. It’s time to do it again.

The Nation is entering a perfect storm. Due to high-interest rates, bank lending is contracting. Mortgage rates are soaring and housing construction is slowing. New job creation is falling, and personal consumption is winding down. The federal government deficit is projected to be $2 trillion! So, any recession cannot be met with trillions in new government spending.

And now a budget crisis! Draconian cutbacks are being mooted for all areas of the economy. These will impact all citizens, but especially those least able to cope. Ironically, the cuts will deepen the budget deficit! There are no more tools in the toolbox!

Time to go “off-budget” with H.R.4052, the National Infrastructure Bank bill in Congress. The NIB can marshal $5 trillion in new financing for infrastructure. It will complement all that Congress has done and spark a large-scale economic expansion. All with no new federal spending or federal taxes!

This bill now has 15 sponsors, with the bulk of them coming in the last eight weeks. The Seattle City Council just unanimously endorsed the legislation, and more resolutions are in the works. Growing numbers of officials are contacting their members of Congress to cosponsor the bill. Please watch this important Zoom Town Hall.

Speakers:

Alphecca Muttardy , former Senior Economist, International Monetary Fund, Fairfax, VA

Congressman Dwight Evans , Philadelphia, PA (video)

Dr. Nomi Prins , Ph.D., author “Permanent Distortion,” and former Wall Street executive, Los Angeles, CA

Sen. Liz Lovelett , Washington State Senate, Anacortes, WA

Rep. Arthur Handy , Rhode Island House of Representatives, Cranston, RI

Rep. George Brown , Kentucky House of Representatives, Lexington KY

Michael Flynn , Senior Director, Cushman and Wakefield Rail Advisory Group, Westchester, NY

Asw. Maryjane Shimsky , New York Assembly, Dobbs Ferry, NY

Rep. George Brown , Kentucky House of Representatives, Lexington KY

Rep. Robert Williams , South Carolina of Representatives, Darlington, SC

Dr. Andrew Winnick , Professor of Economics and Statistics (ret.), Cal State University, Los Angeles, CA

Moderator: Robert Lynn, Jr , Secretary, Jobs with Justice; Organizer, UA Local 50 (ret), Toledo, OH

Seattle City Council Passes Resolution Supporting National Infrastructure Bank, Calls on Congress to Act

Fri, 15 Sep 2023 19:47:44 GMT

Summary

The Seattle City Council passed a resolution urging the federal government to create a National Infrastructure Bank which would help repair the country's aging infrastructure and build modern transit, affordable housing, and so forth.

SEATTLE – Councilmember Teresa Mosqueda (Position 8, Citywide) celebrated the Seattle City Council’s passage of a resolution requesting the creation of a National Infrastructure Bank (NIB). The Council’s resolution supports the federal Legislation ( HR 3339 ) to create a National Infrastructure Bank. If created, the NIB would lend $5 trillion nationally to repair the country’s crumbling infrastructure. Crucial priorities include affordable housing, high-speed rail, water projects to address drought, and more.

“Given the important and direly needed projects and jobs that the NIB could fund in the City of Seattle and around the nation, I am proud Seattle City Council is adding its support to the growing list of cities, counties, states, unions, and national organizations,” said Budget Chair, Councilmember Teresa Mosqueda. “The bipartisan, nation-spanning support includes half the states in the nation with the addition of Washington State, thanks to leadership from Senator Hasegawa this year. I hope this growing momentum tips the balance in DC so we finally can see the NIB passed.”

Nationally, the bank would function like a traditional commercial bank, but focus its investments on projects that create enduring public benefits. It would provide the resources to repair bridges in disrepair, retrofit buildings for earthquakes, build world-class transit, and beyond. The projects spurred by the bank would create 25 million new jobs, all of which pay the local prevailing wage. Investments would also target low-income communities, both urban and rural, to address deep-seated inequities.

“I am happy to have the opportunity to add my support to the growing movement calling for a publicly-controlled national bank,” said Councilmember Lisa Herbold, District 1. “I appreciate the persistence of advocates, as well as their efforts to help solve Seattle’s largest infrastructure challenges.”

Locally, the NIB would help build deeply affordable housing to alleviate Seattle’s homelessness crisis, replace the city’s aging bridges, repair potholes, modernize water pipes, expand mass transit, and construct high-speed rail. Except for a small appropriation from Congress to get started, the NIB will pay its own way – it will not create any new federal debt, nor require any new federal taxes.

“We currently sit in an untenable position. Our infrastructure is crumbling and we have no way to finance maintenance without resorting to regressive schemes, let alone fund new projects to prepare for the future,” wrote Washington State Senator Bob Hasegawa, 11 ^th LD. “If we want to free ourselves from financial bondage to big Wall Street banks and be able to actually build for our future, the NIB is the best, and only alternative we have right now.”

The Council’s resolution closely mirrors the State legislature’s SJM 8001 , sponsored by Senator Bob Hasegawa, which enjoyed bipartisan support. By passing the legislation this week, the Seattle City Council joins the Washington State Legislature, 24 other states, 38 city or county councils, 16 National organizations, and 20 labor federations and councils supporting the creation of a National Infrastructure Bank. ( Link to article )

August 30 Video: A “Hamiltonian” National Infrastructure Bank Will Defeat Budget Cuts, High-Interest Rates and Banking Crises

Mon, 11 Sep 2023 18:25:59 GMT

A Labor Day Weekend NIB Zoom Town Hall on August 30, 2023, was headlined by Washington State Senator Robert Hasegawa, New Mexico State Senator William Tallman and Pennsylvania Representative Darisha Parker entitled, "A 'Hamiltonian' National Infrastructure Bank Will Defeat Budget Cuts, High Interest Rates and Banking Crises."

This Labor Day event comes at the end of a “summer of discontent,” but also hope. Climate-related and other calamities underscored the need for an aggressive solution like the $5 trillion National Infrastructure Bank. The horrible fires in Maui were in part the result of Hawaii’s lack of infrastructure investment. Hawaii ranks near the bottom in all infrastructure categories, and has a D+ rating from the American Society of Civil Engineers.

Bridge collapses in Pennsylvania and Montana also symbolize the decaying system, as one in three bridges in the country are in urgent need of repair. The power grid is overwhelmed by climate concerns, due to decades of failure to upgrade the grid and build new sources of power generation.

Housing is getting more and more unaffordable and money from all government sources is simply way too small.

Starting in September, Congress will debate idiotic legislation to cut the budget even more. Infrastructure is on the chopping block. Committee chairs are advocating billions of dollars of budget cuts to everything from rail to lead-service line replacement, which will only increase the budget deficit and impose suffering on millions of Americans.

Add to this, is the effort of the Federal Reserve to continue interest rate hikes. In addition, the commercial banking system is in full retrenchment, as recent rating downgrades have soured their appetite for new lending. These factors will contribute to a looming slowdown in the economy which is the last thing we need.

Help is on the way! The campaign to create the $5 trillion National Infrastructure Bank (NIB), modelled on Alexander Hamilton’s First Bank of the United States, is making real headway. The new bank is embodied in H.R.4052, the National Infrastructure Bank Act. This entity will be able to finance a full build-out of infrastructure repairs and new projects. The NIB will complement the Bipartisan Infrastructure Law which is rolling out projects that are good and necessary. However, that law will expire in a little over three years with no “Plan B” in the works.

A groundswell of support for the NIB is building from elected officials, policy makers, and institutions, who recognize that the NIB can unite the country and counteract any attempt to bring on a recession.

At the end of the famous Broadway hit musical “Hamilton,” the play’s namesake calls upon his colleagues, and implicitly the audience, to “Rise to the occasion; Take your shot; Build a movement” for positive change. We must all heed that challenge: Help us bring the NIB into existence!!

Speakers:

Alphecca Muttardy , former Senior Economist, International Monetary Fund, Fairfax, VA

Representative Darisha Parker , Philadelphia, PA

Senator Robert Hasegawa , Tukwila WA

Senator Bill Tallman , Albuquerque, NM

Assemblywoman Jo Anne Simon , Brooklyn, NY

Representative Pat Boy , Michigan City, IN

Alderman Gilbert Villegas , Chicago, IL

Dr. Andrew Winnick , Professor Emeritus of Macro-Economic and Monetary Theory, Cal State University, Los Angeles, CA

Craig Swartz , Chair, Ohio Democratic Party Rural Caucus, Upper Sandusky, OH

Moderator: Julie Olsen , MBA, Chair Alaska Democratic Party Progressive Caucus, Anchorage, AK

PBI's Ellen Brown and Walt McRee Interview Author Steven Fenberg: Jesse Jones and the Reconstruction Finance Corporation

Fri, 01 Sep 2023 19:09:58 GMT

FDR is usually given the credit for saving America and capitalism from the Great Depression, winning WWII, and launching an amazing number of infrastructure improvements that America enjoys to this day. But it wouldn’t have happened without the can-do integrity of a single Texas entrepreneur, Jesse Holman Jones. One of America’s greatest unsung heroes, Jesse Jones led the transformative Reconstruction Finance Corporation (RFC), which financed America’s recovery and set the stage for its dominance on the world stage. Guest Steven Fenberg is the author of the book "Unprecedented Power: Jesse Jones, Capitalism and the Common Good" and is the foremost expert on Jones’ amazing legacy of public service. The RFC is the inspiration for current legislation (HR4052) that would establish a national reconstruction bank able to rebuild America’s failing infrastructure. Macroeconomist Alphecca Muttardy of the Coalition for the National Infrastructure Bank talks with Ellen about that legislation, which would raise $5 trillion to repeat Jones’ transformative investments in America. (Watch the video below.)

“Hamiltonian” National Infrastructure Bank Movement Brought to NCSL Summit

Thu, 24 Aug 2023 21:18:12 GMT

A team from the Coalition for a National Infrastructure Bank (NIB) attended the National Conference of State Legislatures (NCSL), Indianapolis Summit August 15-16. In the spirit of the American Revolution, Alexander Hamilton’s National Banking concept was brought to thousands of state representatives in attendance. There was a resolution introduced into the conference in support of a current bill in the U.S. Congress, H.R.4052. This landmark legislation would create a $5 trillion National Infrastructure Bank.

There was a debate at the Natural Resources and Infrastructure Committee where the resolution was presented. While the resolution was ultimately defeated, it was the only resolution that precipitated a very spirited debate. The impact of the debate resonated throughout the convention. Dozens of discussions of this unique policy were conducted in the halls of the convention center and was raised from the floor in two other forums.

Many of the participants were unfamiliar with the legislation so this was a chance to bring it to their attention. While many of the legislators in attendance and the Coalition support the Bipartisan Infrastructure Law (BIL), everyone agreed that the BIL is too small and will expire in a little over three years. Nobody else has a “Plan B”. Additionally, the current infrastructure needs of the states and cities dwarfs the allocation in the BIL. The idea of a permanent, stand-alone, bank was very appealing to many of the legislators.

At one forum, the bank bill and its potential impact was the subject of a question from the floor by a Coalition representative. Again, this led to another series of public exchanges on the merits of the proposal. There were, of course, several lines of opposition. These ranged from the “let the market decide what infrastructure is built; keep the federal government out of this”, to those committed to spending only through the budget. This latter approach became increasingly hard to defend against the persistent budget deficits plaguing the federal budget. Hence the NIB looked pretty darn good.

One unexpected opportunity presented itself in a scheduled forum, entitled, “Leadership Lessons from ‘Hamilton.’” This entertaining and politically provocative forum spliced together the most poignant quotes with music from the “Hamilton” play and put them on the screen with the music playing in the background. The audience sang along as many had seen the Broadway musical. The forum encouraged the state legislators to think and act like the courageous young Alexander Hamilton. The repeated musical refrain, “Take your shot . . . One shot . . .Don’t throw away your shot,” set up the perfect moment for our NIB organizer to intervene.

Right after the moderator asked the question, “How would you define your movement?” the NIB organizer seized the moment. She jumped up and said, “Can I take my shot?” The chair enthusiastically let her address the entire body. She “rose to the occasion” and alerted the attendees to the existence of a bill in Congress modeled explicitly on Alexander Hamilton’s original bill creating a National Bank. The organizer vigorously gave the historical precedent for the bank, and outlined the many benefits of H.R. 4052. She finished on a high note, challenging the audience to join the effort: “This is our chance to put the U.S. back on the map as a great manufacturing and industrial nation, just as Hamilton intended; please join the effort to pass this bill.”

In a split second response, the moderator interrupted, “Alright, there’s your movement.” Following the impromptu remarks, the NIB representative made available literature to all the participants in the room.

Today, just as in 1776, this is our moment to continue Hamilton’s revolution. Go ahead, take your shot, help us pass H.R.4052.

FORUM BILLBOARD

Northwest Citizen Publishes Article on H.R.4052 for the National Infrastructure Bank

Wed, 09 Aug 2023 23:30:26 GMT

This legislation calls for a $5 trillion National Infrastructure Bank that will finance the nation’s infrastructure needs without involving the budget or adding to the national debt.

Last month, Illinois Congressman Danny K. Davis (D-IL) announced his introduction of a new National Infrastructure Bank (NIB) bill, H.R.4052 . As I reported previously in my article entitled, National Infrastructure Bank…And The State Of Washington , this far-reaching piece of legislation has been in the mill for several years.

Readers of this article in Washington State will be pleased to note that at a state level the legislature has officially indicated its support for the National Infrastructure Bank by passing Senate Joint Memorial 8001 , essentially a petition “Request(ing) that Congress pass and the President of the United States sign the National Infrastructure Bank Act or similar legislation.”

There are efforts to replicate this sort of petition in all states and even down to the municipal and county level where localities can benefit from the NIB for their own infrastructure projects at much lower costs.

This from Congressman Davis:

“…similar [to the state of Washington] resolutions have recently been filed in the Alabama, Pennsylvania, and Ohio legislatures. Sign-On Letters to Congress are circulating in New York, North Carolina, and Alaska legislatures. More county councils in New York and elsewhere are doing the same. New resolutions were just introduced into the Council of State Governments West and the National Conference of State Legislatures. The impact has not been lost on Congress.”

You can find out about your state's support of the NIB at this page . Also at that page are links to endorsements by cities, counties, and labor unions across the country. On the NIB site is a sample support resolution for use by your local or state government or your organization. A sample text can be edited to suit local needs/viewpoints.

Last but not least, you can help move this legislation along by contacting your representative in Congress. Cite the bill number and name: H.R.4052 - National Infrastructure Bank Act of 2023. Add a few sentences to indicate the reason you support the NIB. You can borrow supporting language from this article or the NIB website . This web page will help you navigate to the office of your congressional representative: Find Your Representative .

(“Renewed Push for a National Infrastructure Bank” is the title of an article published in the Northwest Citizen by Dick Conoboy on July 28, 2023. Excerpts above.)

Read Full Article Here

July 13 Video: “An American System Policy Can Beat Any Recession and Drive an Economic Renaissance”

Tue, 18 Jul 2023 22:25:31 GMT

The July 13 NIB Zoom Town Hall featured, author and former Wall Street Executive Dr. Nomi Prins, Public Banking Chair Ellen Brown, and Derek Leebaert, author “Unlikely Heroes: Franklin Roosevelt, His Four Lieutenants, and the World They Made.” The event was titled “An American System Policy Can Beat Any Recession and Drive an Economic Renaissance,”

As two polar opposite economic policies are now locked into mortal combat, the question is, “Which one is the right answer?” Number one. The Federal Reserve-is moving the country into a slow-moving recession. While Job creation is still positive, it is trending downward. Manufacturing is in its eighth straight month of contraction. Nearly three hundred companies have gone belly-up this year alone, the highest since 2010, and many are well-known names. The ongoing collapse of commercial real estate could be a harbinger of serious trouble on the horizon. The Fed’s high-interest rate policy is negatively impacting hundreds of small and mid-size banks. Their balance sheets now resemble those of the three large banks that tanked this spring.

Number two. Although positive alternatives have begun to emerge, as the Biden administration’s CHIPS Act and Inflation Reduction Act and have spurred serious investment by some private sector companies into building new factories, this investment will not be large enough to prevent the real damage now being inflicted on the economy. As a complement to these bills, Congressman Danny Davis, and several cosponsors, have introduced H.R.4052 to create a $5 trillion National Infrastructure Bank to finance the infrastructure gap, and actually uproot poverty from the bottom up along the way. This new Bank will steer new money into all needed infrastructure projects creating millions of new high-wage jobs in the process.

That is the setting. The choice is yours: Allow our country to descend into the depths of crisis and despair or launch an industrial renaissance. Please watch this insightful discussion and spread the word to your elected officials to cosponsor H.R.4052.

Speakers:

Alphecca Muttardy , former Senior Economist, International Monetary Fund, Fairfax, VA

Dr. Nomi Prins , Ph.D, author and former Goldman Sachs Managing Director, Los Angeles, CA

Derek Leebaert , author “Unlikely Heroes: Franklin Roosevelt, His Four Lieutenants, and the World They Made,”Washington, DC

Ellen Brown , Esq, Chair Public Banking Institute, Los Angeles, CA

Dr. Andrew Winnick , Professor Emeritus of Macro-Economics and Monetary Theory, Cal State University-Los Angeles, CA

Moderator: Julie Olsen , MBA, Small businesswoman and Chair Progressive Caucus Alaska Democratic Party, Anchorage, AK

June 15 Video: Elected Officials to Congress: “National Banking Will Build Infrastructure for All”

Tue, 20 Jun 2023 18:10:23 GMT

Illinois Congressman Danny K. Davis led the June 15 Zoom Town Hall with a taped video presentation announcing his introduction of a new National Infrastructure Bank Bill H.R.4052 . His new bill is modeled on H.R.3339, calling for a $5 trillion National Infrastructure Bank which will finance all the Nation’s infrastructure needs. The video kicked off a most poignant dialogue by a far-ranging group of elected and other officials on the urgent need for a robust and permanent U.S. industrial expansion.

Ellen Brown, Chair, Public Banking Institute, Washington State Senator Liz Lovelett, and Pennsylvania House Representative Joe Ciresi were joined by other elected officials for the Zoom Town Hall, entitled “National Banking Will Build Infrastructure for All.” This timely event reflected an ever-expanding campaign to implement a National Infrastructure Bank (NIB), along with state public banks, that is now making its presence felt on Capitol Hill.

There is no better time than now to make this happen. Economic activity is slowing and a recession is in the offing. Cash is being drained from banks by the Federal Reserve’s quantitative tightening, bank deposits are fleeing by the hundreds of billions of dollars into money market mutual funds, and a credit crunch in all financial institutions is occurring courtesy of the Fed’s high-interest rates.

The only “Plan B” is the National Infrastructure Bank and public banking. Resolutions and Sign-On letters urging Congressional adoption of the $5 trillion National Infrastructure Bank are coming into Washington from around the country.

The Washington State Legislature passed a resolution urging Congress to create the NIB and similar resolutions have recently been filed in the Alabama, Pennsylvania, and Ohio legislatures. Sign-On Letters to Congress are circulating in New York, North Carolina, and Alaska legislatures. More county councils in New York and elsewhere are doing the same. New resolutions were just introduced into the Council of State Governments West and the National Conference of State Legislatures. The impact has not been lost on Congress.

Please watch the June 15 video and call Congress to co-sponsor H.R.4052. As always, spread the word!!

Speakers:

Congressman Danny Davis , Chicago, IL

Alphecca Muttardy , former Senior Economist, International Monetary Fund, Fairfax, VA

Ellen Brown , Esq., Chair, Public Banking Institute, Los Angeles, CA

Representative Joe Ciresi , Limerick Township, PA

Representative Michele Grim , Toledo, OH

Senator Liz Lovelett , Anacortes, WA

Senator Bill Tallman , Albuquerque, NM

Senator Evangeline Diaz , Tolleson, AZ

Moderator: Julie Olsen , MBA; Chair Progressive Caucus, Alaska Dems, Anchorage, AK

Congressman Danny K. Davis Introduces National Infrastructure Bank Bill H.R.4052

Mon, 19 Jun 2023 01:23:35 GMT

On June 13, 2023, Congressman Danny Davis introduced the National Infrastructure Bank Bill H.R.4052 into the 118 ^th Congress. The bill calls for a $5 trillion National Infrastructure Bank (NIB) to build all the Nation’s infrastructure.

As noted on Congress.gov, H.R.4052 is “To facilitate efficient investments and financing of infrastructure projects and new job creation through the establishment of a National Infrastructure Bank and for other purposes.”

The Congressman announced the introduction of H.R.4052 in a video presentation delivered at a National Zoom Town Hall on June 15, 2023, sponsored by the Coalition for a National Infrastructure Bank, entitled, Elected Officials to Congress: “National Banking Will Build Infrastructure for All.”

Congressman Davis sponsored two similar bills in previous sessions of Congress.

Link to Video

INFRASTRUCTURE WEEK MAY 18 VIDEO: “Imagine the Future: How the $5 Trillion National Infrastructure Bank Will Create a 21st Century USA”

Mon, 22 May 2023 22:10:30 GMT

The Coalition for a National Infrastructure Bank (NIB) sponsored a special “Infrastructure Week” Webinar on May 18, 2023. This tour de force event, entitled, “Imagine the Future: How the $5 Trillion National Infrastructure Bank Will Create a 21 ^st Century USA,” featured Dr. Alexander Metcalf, President, of Transportation Economics and Management Company (TEMS); Dr. Nomi Prins, Ph.D., author, former Managing Director Goldman Sachs; Lou Spencer, Assistant Business Manager UA Local Plumbers and Gasfitters; and Stanley Forczek, former Director of Finance Amtrak’s Northeast Corridor.

This timely event occurred on the 90 ^th anniversary of President Franklin D. Roosevelt’s signing of the Tennessee Valley Authority (TVA) Act on May 18, 1933. FDR’s TVA miracle was one of the largest regional infrastructure projects in all of American history and was financed by the Reconstruction Finance Corporation (RFC). Infrastructure projects like the TVA are possible today.

Each webinar presenter centered their unique infrastructure project on the need for the $5 Trillion National Infrastructure Bank (NIB), as outlined in Congressional Bill HR3339. This legislation will make it possible to finance all of the old and brand-new infrastructure projects that our country so desperately needs.

The different PowerPoints demonstrated what America’s future could look like with a new NIB. Imagine, high-speed trains crisscrossing the nation at 200 mph, new airports and gleaming mass transit systems, large-scale water projects, whole new drinking and sewer systems, in addition to millions of new affordable housing units.

This, and much more, is all at our fingertips if Congress creates the $5 trillion NIB. And, they have no need to worry, because the NIB requires no new federal taxes, spending, or debt! It is a self-sustaining bank with the capacity to finance everything.

We can fix it all, not just the 10% covered by the Bipartisan Infrastructure Law (BIL) of 2021. Why not? Shouldn't all Americans have access to the best quality infrastructure?

There is no need for us to stare into the frightening abyss of recession, stubborn inflation, and ongoing banking crises when the solution is right before our eyes.

Let’s think and act like Americans again. We can build our way out of this crisis and erect a shining new infrastructure system second to none. We did it before and we can do it again.

Speakers :

Alphecca Muttardy , former Senior Economist, International Monetary Fund, Fairfax VA

Dr. Nomi Prins , Ph.D., author, former Managing Director Goldman Sachs, Los Angeles, CA

Dr. Alexander Metcalf , Ph.D., President, Transportation Economics and Management Company (TEMS), Frederick, MD

Stanley Forczek , former Director of Finance Amtrak’s Northeast Corridor, Williamstown NJ

James ”Lou” Spencer , Assistant Business Manager UA Local 5 Plumbers and Gasfitters, Caret, VA

Don Siefkes , MIT-trained Chemical Engineer, San Leandro, CA

Julie Olsen , MBA; Chair Alaska Democratic Party Progressive Caucus, Anchorage AK

Moderator: Craig Swartz , former City Councilman, Upper Sandusky, OH

( WATCH VIDEO )

OPED: Ohio Lawmakers Make Case for National Infrastructure Bank

Wed, 03 May 2023 23:20:12 GMT

On May 3, 2023, Cleveland.com published an OpEd by two Ohio State Reps, Michele Grim and Sean Brennan, entitled “Small businesses, big investments --the case for a National Infrastructure Bank” (NIB). The OpEd comes one week after the two lawmakers filed a resolution in support of the NIB with 19 co-sponsors.

The OpEd reads as follows:

COLUMBUS, Ohio -- Our nation is facing the threat of a recession as well as a banking crisis. This trying state of affairs is the result of over 50 years of failed economic policies. We outsourced much of our manufacturing, which we have felt here in Ohio, while simultaneously failing to repair and replace our aging infrastructure. Instead of investing in our tangible economy, our nation increasingly turned to financial speculation in stocks, bonds, crypto currencies, and other dubious investments.

Read the rest of the OpEd here.

April 27 Video: “How to Build the Nation: National Banking vs. Privatization”

Tue, 02 May 2023 01:50:02 GMT

On April 27, 2023, Public Banking Institute Chair Ellen Brown, was joined by Executive Director of “In the Public Interest” Donald Cohen, and Professor Andrew Winnick, Ph.D. former Professor of Economics and Statistics, Cal State Los Angeles for a timely NIB national Zoom Town Hall, “How to Build the Nation: National Banking vs. Privatization.”

While the Federal Reserve is forecasting recession over the next several months, with many experts believing that some sections of the nation are already in recession, the Congress is embroiled in a destructive debate on the debt ceiling, and Speaker Kevin McCarthy has unveiled a plan for additional pain and suffering.

Only the Coalition for a National Infrastructure Bank and allies are leading the campaign to reverse this recession and launch a bold economic recovery. The April 27 ^th Town Hall presents the stark contrast between National Banking and the corrosive impact of privatization.

The case against privatization was outlined by Donald Cohen, Executive Director of “In the Public Interest” and the co-author of “The Privatization of Everything” This book is a widely-praised authoritative expose of the destructive impact that privatization has had and could have on the economy. Bad actors in the Congress and local government have been peddling “enticing” privatization schemes for the past several years which, in most cases, have resulted in disaster.

Alphecca Muttardy, professional economist, Ellen Brown, author of “Web of Debt” and Dr. Andrew Winnick, former Professor of Economics at Cal State Los Angeles critiqued the oncoming recession and presented the alternative of Public Banking and a National Infrastructure Bank.

Legislators Sen. Bill Tallman (NM) and Rep. Sean Brennan (OH) presented their reasons why they are among the many elected officials leading the campaign to get Congress to implement the National Infrastructure Bank post-haste.

Please watch this timely Town Hall and circulate to friends.

Speakers:

Ellen Brown , Founder and Chair, Public Banking Institute, Los Angeles

Donald Cohen , Executive Director “In the Public Interest”; co-author “The Privatization of Everything,” Oakland Ca

Andrew Winnick , PhD. former Professor of Economics and Statistics, Cal State Los Angeles and Cal State Santa Barbara, Los Angeles

Sen. William Tallman , New Mexico State Senate, Albuquerque

Rep. Sean Brennan , Ohio House of Representatives, Parma, Oh

Alphecca Muttardy , former Senior Economist, International Monetary Fund, Fairfax, Va

Moderator: Julie Olsen , MBA, Small business owner, Anchorage Ak

New York Progressive Action Network Passes Resolution for National Infrastructure Bank

Sat, 29 Apr 2023 15:07:50 GMT

The New York Progressive Action Network (NYPAN), passed a resolution in support of the $5 trillion National Infrastructure Bank Act in mid-April 2023. NYPAN consists of progressive organizations across all regions of New York State from Potsdam to Buffalo to Westchester to Long Island to the Bronx.

The Network was founded in December of 2016, following the 2016 elections. The founding chapters were all grassroots organizations that had formed during the Bernie Sanders campaign in New York. Volunteers in these organizations, many of them entirely new to politics, became heavily involved in their communities, built networks, and made lasting friendships. At the Democratic Convention in Philadelphia, representatives from these grassroots organizations met up and decided that, even though the primary was over, the movement was too important to abandon, and formed a 501c4 organization.

NYPAN began with 16 chapters, and has grown in the past four years to include over 30 chapters and affiliates. Although the founding chapters came from the Bernie Sanders campaign, NYPAN has welcomed progressive chapters and affiliates of all stripes, including Black Lives Matter of Greater New York. Other affiliates include a number of unions, the Jim Owles Democratic Club (an LGBTQ organization), the 504 Democrats (a disability rights organization), and Life of Hope (a support organization for Haitian immigrants).

Read resolution here .

Washington State Legislature Passes Resolution in Support of the National Infrastructure Bank Act

Sat, 15 Apr 2023 21:19:50 GMT

On April 12, the Washington State House of Representatives overwhelmingly passed SJM 8001, the joint memorial "Concerning a National Infrastructure Bank". The resolution calls upon Congress to adopt the National Infrastructure Bank legislation introduced into the 117 ^th Congress as HR 3339.

This resolution passed the Washington Senate on February 8. The April 12 vote signified that the entire Washington Legislature has adopted the resolution. Washington becomes the fourth legislature to endorse the National Infrastructure Bank legislation. Similar resolutions have passed at least one house in many other states.

The resolution was sponsored and directed by Senate Democratic Caucus Chair Bob Hasegawa (in above picture) and had 16 Senate cosponsors. Senator Hasegawa led a determined campaign in and out of the legislature and was joined by Democratic Party officials and civic activists around the state. Many Democratic Legislative District organizations endorsed the legislation including: King County Democrats (Greater Seattle area), 34th District, 48th District, 49th District, 1st District, Seattle Indivisible and many other organizations. The Washington State Democratic Party adopted a plank supporting the policy last year.

Activists mobilized in concert with the Coalition for a National Infrastructure Bank to drive the effort. The effort was punctuated by two lively hearings, one in the House and another in the Senate. Testimony was presented by state campaigners and most eloquently by Senator Hasegawa. ( see below ). All involved now hope to carry the impact of this accomplishment to the U.S. Congress. The aim is to sway members of the congressional delegation to help get the legislation introduced and debated in the 118 ^th Congress.

April 4 Video: “National Banking in Times of Crisis”

Fri, 07 Apr 2023 23:44:22 GMT

Award-winning author Steven Fenberg of Unprecedented Power: Jesse Jones, Capitalism and the Common Good was joined by Ellen Brown, Public Banking Institute chair and author of Web of Debt and former IMF senior economist Alphecca Muttardy for a timely Zoom roundtable discussion, National Banking in Times of Crisis.

This forum occurs during the most ominous financial crisis of the past fifteen years. Comparisons are being made to the 2008 financial meltdown and to the devastation that followed the 1929 stock market crash. Steven Fenberg described how the federal government’s Reconstruction Finance Corporation (RFC) successfully addressed the financial catastrophe of the Great Depression and how those strategies can be applied today.

The RFC was central in stabilizing the banking system in 1932, first by providing loans to financial institutions and then by buying their preferred stock to recapitalize them so they could pay depositors and lend again. The RFC followed those actions by spearheading the nation’s industrial and economic expansion in anticipation of World War II. Author and financial historian Ellen Brown traced the roots of those policies to the founding of the United States of America when the generation of credit spurred industrial expansion that built our nation into a great powerhouse during the 19 ^th and early 20 ^th centuries.

Alphecca Muttardy explored the parallel of today’s proposed National Infrastructure Bank (NIB) legislation to the RFC and the earlier versions of national banking and economic expansion. The United States can come full circle and apply the lessons learned from those previous efforts to solve the onrushing financial crisis of today.

To quote Mark Twain, “History never repeats itself, but it does often rhyme.”

Watch video here

Speakers:

Steven Fenberg , Author of Unprecedented Power: Jesse Jones, Capitalism and the Common Good, Houston, TX

Ellen Brown , Chair and Founder, Public Banking Institute, Los Angeles, CA

Alphecca Muttardy , former Senior Economist, International Monetary Fund, Fairfax, VA

Moderator: Julie Olsen , MBA, Small business owner, Anchorage, AK

Washington State Legislature Hears Testimony on National Infrastructure Bank

Fri, 24 Mar 2023 19:12:18 GMT

On March 17, Washington State Senator Bob Hasegawa, sponsor of SJM8001, testified before the House Consumer Protection & Business Committee on the need for a $5 trillion National Infrastructure Bank (NIB), as specified in Congressional bill HR3339. Several other Washingtonians joined him in testimony.

Senator Hasegawa, known in the state as a big promotor of state banking, believes that the NIB is the “national version of a state public bank.” Making historical references to previous banks, particularly the President Franklin Roosevelt’s Reconstruction Finance Corporation, he identified not only projects built in Washington State, but also rural electrification, and the financing for the WWII buildup.

The senator explained how the NIB works, emphasizing that it does not require federal taxes nor new debt. In discussing the NIB’s “equity provisions,” he mentioned several national endorsements for the NIB, including the National Asian Pacific American Caucus of State Legislators, the National Black Caucus of State Legislators, the National Congress of Black Women, and many more.

Senator Hasegawa made extremely clear, especially in light of the infrastructure rating by the American Society of Civil Engineers (ASCE) of C- or D, we can no longer rely on commercial banks, and that the $5 trillion NIB would be an extremely “functional tool.” The senator was peppered with several questions, including the need for bipartisan support. The resolution passed the committee.

Watch the hearing here.

New Mexico State Legislature Holds Hearing on National Infrastructure Bank (with video)

Wed, 08 Mar 2023 21:56:40 GMT

On March 2, 2023, a hearing on the National Infrastructure Bank (NIB) took place in the New Mexico State Legislature. Resolution HJM 5 was heard before the “Transportation and Public Works” Committee with testimony from labor officials and other local leaders.

Resolution sponsor, NM Representative Joy Garratt opened the hearing in support of the NIB, followed by Alphecca Muttardy, 25-year veteran of the International Monetary Fund, and Senior Economist for the Coalition for a National Infrastructure Bank, who provided expert testimony.

In addition, testimony was heard by six other New Mexico officials and leaders, including labor. The witnesses included Mark Strand, Secretary-Treasurer, NM State AFL-CIO; Jon Lipshutz, Representative, NM AFL-CIO; Fred Baca, Director, NM LULAC; Rayellen Smith, President, Indivisible Albuquerque; Evelyn Vinogradov, Chair, DPNM Rural Caucus; Sarah Manning, Alliance for Local Economic Prosperity.

The most salient points raised during the testimonies were:

The NIB is capitalized with existing Treasury Bonds, creating no new federal debt or taxes.
It has bipartisan appeal, and would be the perfect complement to the Bipartisan Infrastructure Law, which only covers 10%. of all infrastructure funding.
Its historic precedent as a lending institution, and not a spending one, would fight inflation by creating millions of jobs, generating enormous growth.
As NM’s infrastructure is in terrible condition, the “effect on the economy would be wonderful,” particularly for roads, produce and tourism.

All the witnesses urged the lawmakers to support resolution HJM 5.

Several questions came up for discussion which were satisfactorily addressed. The resolution passed the committee.

(The video of the hearing can be watched here .)

National Infrastructure Bank Experts: “All Communities Will Benefit”

Sat, 04 Mar 2023 21:43:38 GMT

National Infrastructure Bank (NIB) experts Alphecca Muttardy and Stanley Forczek present a twenty-minute instructive video on how the NIB will benefit all communities.

Infrastructure specialist, and former Amtrak executive, Stan Forczek begins by discussing how the NIB will ensure the success of communities in building infrastructure projects. He addresses two critical areas of concern 1) community coordination, especially in filing applications and fulfilling engineering requirements 2) taking measures to protect critical infrastructure, especially water, power and rail.

Alphecca Muttardy, former Senior Economist, International Monetary Fund, details the funding for urgently needed infrastructure, while building communities along the way. Ms. Muttardy makes clear that only the NIB can cover all the Nation’s infrastructure, topping off budgets, municipal bonds and Public-Private Partnerships. She makes reference to several areas of impact: climate change, cyber and physical security, age and capacity, and worker training. She especially draws attention to the declining water levels in the Colorado River system.

As indicated by Ms. Muttardy, only Congressional Bill HR3339 addresses these infrastructure issues, with no new taxes or increasing the deficit. A new bill for the $5 trillion National Infrastructure Bank has already been drafted and will be re-introduced into the U.S. Congress soon.

Get your community involved now.

PRESIDENTS' DAY NIB Zoom Video, “Washington, Hamilton and Lincoln: National Banking and the Economic Demands of Today’s Crisis”

Mon, 20 Feb 2023 20:15:52 GMT

In honor of Presidents’ Day, the Coalition for a National Infrastructure Bank sponsored a Zoom Town Hall on February 16, 2023. The Town Hall, addressed by Public Banking Institute Chair Ellen Brown, author and former Wall Street Executive Dr. Nomi Prins, Edward Cornell Professor of Law and Finance Robert Hockett, and others, centered on the legacy of Washington and Lincoln’s National Banking and today’s economic crisis.

Just as immense crises faced the Washington and Lincoln administrations, similar challenges confront the U.S. government today. The administration only wants to implement the economic legislation passed in 2022, but the rollout has been anything but impressive. Shovels are barely in the ground from the Bipartisan Infrastructure Law, and that bill itself covers no more than 10% of what needs to be built. No bills to supercharge the economy are being contemplated by the White House or the Republicans. And, Federal Reserve Chair Jerome Powell is ramming a recession down the throats of an unwilling American public. The last things we need are job losses and business bankruptcies.

The only alternative is the National Infrastructure Bank (NIB), which will supercharge the U.S. economy, and is leading the opposition to Powell and his allies. Support for this program is growing. A raft of endorsements have been recently filed or passed across the nation, including the Los Angeles, New York, and San Francisco City Councils, the Washington State, Arizona, New Jersey, and New Mexico legislatures, and many more.

The NIB is a direct echo of the National Banks and infrastructure development policies of Washington and Lincoln, which built the nation into a great power in the 19 ^th century. The American System, inaugurated by Washington’s Treasury Secretary Alexander Hamilton, launched the commercial and industrial expansion of the United States. This was the signature accomplishment of those two great presidents. In addition, President Franklin Roosevelt. embraced the economic outlook of the martyred Lincoln, and FDR’s advisors transformed the Reconstruction Finance Corporation (RFC) into a National Bank in that tradition. The RFC became the engine driving the New Deal and the WWII industrial juggernaut.

This legacy of Presidents’ Day has the power to transform and save the nation. That is the challenge facing our generation of Americans. Please watch this important event .

Speakers:

Alphecca Muttardy , fmr Senior Economist, International Monetary Fund, Fairfax, VA

Ellen Brown , Chair Public Banking Institute, Los Angeles, CA

Dr. Nomi Prins , PhD., author; fmr Wall Street Executive, Los Angeles, CA

Professor Robert Hockett , Edward Cornell Professor of Law and Finance, Cornell Law School, NY

Sen. Bruce Ennis , fmr Delaware Senate, Smyrna, DE

Lisa Hicks-Clayton , Treasurer Dearborn Heights, MI

Moderator: Julie Olsen , MBA, Small business owner; Anchorage, AK

New Mexico Infrastructure Policy Analyst Critiques Brookings' Report on Bipartisan Infrastructure Law

Sat, 18 Feb 2023 21:06:33 GMT

On February 16, 2023, the Coalition for a National Infrastructure Bank (NIB) released a short 7-minute video with New Mexico Infrastructure Policy Analyst Greg Seeley. The content of the video is a critique of a new Brookings Institute report from February 1, 2023, entitled, “The start of America’s infrastructure decade: How macroeconomic factors may shape local strategies.” The subject of the Brookings’ report is the Investment and Jobs Act (IIJA), also known as the Bipartisan Infrastructure Law (BIL), and the Inflation Reduction Act (IRA) that both passed the 117 ^th Congress in 2022.

The focus of Mr. Seeley’s comments center on problems of distribution and implementation of the $1.25 trillion from both bills. Seeley identifies coordinating problems that are arising not only with grant applications but also with securing the workforce to build the projects, especially in rural areas.

In this video, Mr. Seeley passionately offers the only alternative on the table that can provide a long-term structure for getting the job done. That alternative is the $5 trillion National Infrastructure Bank, as laid out in HR3339, which is in the process of being re-introduced into the 118 ^th Congress.

Watch his insightful perspective. And, act with us, now, to ensure that we start moving the country in the right direction.

Jan 19 NIB Zoom Video: "National Banking Will Drive a U.S. Economic Boom!"

Sun, 22 Jan 2023 17:38:59 GMT

Author Dr. Nomi Prins, Public Banking Chair Ellen Brown, and Infrastructure Policy Expert Greg Seeley, led a timely and riveting intervention into U.S. economic policy: “National Banking Will Drive a U.S. Economic Boom,” January 19, 2023. ( Watch here. )

As support for National Banking, Public Banking and an American System economic expansion grows, alarms are sounding against the potentially brutal impact of an onrushing recession. Danger signs abound: the real estate market collapsed, the crypto fraud blew up in the face of perpetrators and investors, and the NASDAQ and other financial markets have lost nearly a third of their value.

As the best indicator for this growing support, 20 members of Congress signed onto sponsor HR3339, the “National Infrastructure Bank Act,” last session, with the majority joining in the last half of the year. The National Infrastructure Bank (NIB) will create a $5 trillion infrastructure-only bank, and the bill is being drafted now for reintroduction. The NIB is attracting support from Democrats and Republicans alike, and can unite an otherwise, hopelessly, divided nation. Already in the initial weeks of 2023, resolutions have been introduced into the Washington State Senate and the New York City Council.

The Coalition is spearheading the drive against the recession. We are on a collision course. Either we have continued economic downturn or an infrastructure-driven industrial boom.

Watch this powerful and provocative Town Hall and spread the word.

Speakers:

Alphecca Muttardy , former Senior Economist, International Monetary Fund, Fairfax, Va

Dr. Nomi Prins , Ph.D, author and former Wall Street executive, Los Angeles, Ca

Ellen Brown , Chair Public Banking Institute, Los Angeles, Ca

Greg Seeley , Infrastructure Policy Expert, Albuquerque, NM

Asm. Felix Ortiz , former Assistant Speaker New York Assembly, Albany

Asw. Angela McKnight , New Jersey Assembly, Jersey City

Moderator: Julie Olsen , MBA, Small Businesswoman, Anchorage, AK

JAN 6 NIB Zoom Video: “Build High-Speed Rail, Pipe Water to the Colorado, Upgrade the Electric Grid; Infrastructure for the 21st Century”

Tue, 10 Jan 2023 00:05:59 GMT

Dr. Alexander Metcalf, High-Speed Rail Expert, Don Siefkes, Chemical Engineer, and Mary Alford, Professional Engineer led a timely Zoom Town, sponsored by the Coalition for a National Infrastructure Bank (NIB). From their unique perspectives, the presenters detailed what new 21 ^st century infrastructure projects would look like with an NIB. ( Watch here .)

Dr. Metcalf laid out the parameters of a new National network of high-speed rail. Mr. Siefkes detailed his proposal for constructing a water pipeline to the Colorado River. Mary Alford built an argument on the need for a newly designed electric grid.

NIB senior economist, Alphecca Muttardy discussed an upcoming draft of a new NIB bill in Congress, modelled on the previous bill, HR3339. She detailed how the scale of the NIB would need to be increased, particularly with inflation, to cover all the Nation’s needs. The new NIB bill will likely be $7 trillion (not $5 trillion), but will still require no new federal money and no new federal taxes!!

A very likely back and forth ensued on all the different infrastructure proposals.

Speakers:

Dr. Alexander Metcalf , Ph.D., President, Transportation Economics and Management Company; international expert in rail, ports, and supply chains, Frederick, Md

Don Siefkes , MIT trained Chemical Engineer, General Motors Design, (ret.), San Leandro, Ca

Mary Alford , Professional Engineer, Alachua County Commissioner; Principal, The Sustainable Design Group (fmr.), Gainesville, Fl

Alphecca Muttardy , Senior Economist, International Monetary Fund, (ret.), Fairfax, Va

Moderator: Robert Lynn, Jr. , Organizer and Political Director United Association of Plumbers and Steamfitters Local 50, (ret.), Toledo, Oh

Sign the Petition: Pipe Water to the Colorado: Finance it with National Infrastructure Bank

Sat, 07 Jan 2023 20:11:02 GMT

On January 5, 2023, the NIB Coalition issued this 5-minute video and petition, Pipe Water to the Colorado River: Finance It with a National Infrastructure. This is part of our overall campaign to make 2023 the year of the National Infrastructure Bank (NIB) to build 21 ^st century infrastructure projects. In addition to this, we will soon release a much more comprehensive video for building high-speed rail, large-scale water projects and upgrading the electric grid.

All of this is possible with a NIB. The United States used to be #1 as an industrial Nation. To reverse this unfortunate trend, we are calling upon Congress to create the National Infrastructure Bank (NIB), modelled on four previous banks in our history, which built the Nation’s manufacturing, and made the United States a leading industrial power in the world.

Currently, there is a bill in the Congress, HR3339, the National Infrastructure Bank Act, which would create a $5 trillion bank. The NIB would build all the Nation’s infrastructure, with no new federal taxes and no new federal debt.

For example, one of the most urgent concerns, right now, is drought in the Southwest; this must be addressed immediately.

If this drought is not reversed, millions of people will lose electricity, and farmers will be denied water. As this part of the country produces $39 billion of our annual food supply, food prices everywhere will skyrocket.

Large scale water projects, both to alleviate drought and flood, along with other dire infrastructure needs, are possible, but not if we try to finance them through the budget. Only the National Infrastructure Bank can do this. This publicly controlled bank would loan at very low interest rates to state and local authorities to build all U.S. infrastructure, while creating 25 million new, high-wage jobs.

Thousands of Americans are joining this movement, including state legislatures, city councils, political and labor organizations, and more.

We urge you to watch the video, sign the petition and circulate it. Help us make 2023 the year of the National Infrastructure Bank.

We must ensure that THIS YEAR - 2023 - is the year that the United States gets back on the path to becoming #1 again.

2023: Year of the National Infrastructure Bank!

Sun, 01 Jan 2023 15:53:17 GMT

FLASH JANUARY 1, 2023- Albuquerque Journal Posts OpEd, "The Key to Moving Water West"

Recap of December events : Just as the holiday season rolled around, the Coalition came out heavily against Scrooge Jay Powell’s recession which will put millions of people out of work in the new year. Then, the country got hit with an unprecedented winter storm, tragically exposing the country’s weakened infrastructure. Pressing the point, we released an Open Letter to the Biden administration with an economic plan for 2023. On Christmas Day, an OpEd, penned by two NIB Coalition experts, Alphecca Muttardy and Don Siefkes, was published in The Desert Sun, with our solution to the Southwest drought, entitled, “Bring New Water to the Colorado River, and a National Infrastructure Bank to Finance it.” Outlets in California and Colorado printed the OpEd, in addition to Yahoo News, Yahoo Finance, Reddit and more!

Recent events have framed what our role must be in the upcoming weeks of 2023. For sure, we have positioned ourselves well. We ended 2022 with twenty members of Congress sponsoring the National Infrastructure Bank Act. The new Congressional bill for 2023 is being drafted right now and the plan is to file it early in the next session. There are already meetings set up in Congress and in State Legislatures starting January 3. We are hitting the ground running!

But first, let us wish you a “Happy New Year.” If it weren’t for you, we wouldn’t have accomplished all that we did in 2022. A special thanks to all those who participated in the NIB Zoom Town Halls and have kept the movement growing. We are changing history!

Recap of 2022 achievements:

Dozens of resolutions of support for the National Infrastructure Bank (NIB) were adopted. Some of the recent ones include:

Asian-Pacific American Caucus of State Legislators
Los Angeles City Council
Miami-Dade Counties Transportation Planning Organization
Richmond, California City Council
Council of State Governments East Region
California Assembly (lower house)
Indiana Passenger Rail Alliance
California Public Banking Alliance

At the same time, the NIB got expansive news coverage. OpEds appeared in the New Mexico, Mississippi, and Hispanic press, on the NIB as the only solution to the flooding and water crises gripping many areas of the nation.

The Coalition also purchased ads in many publications including:

The Nation
Roll Call
National Conference of State Legislators
Pittsburgh Post-Gazette
Buffalo News
Wilmington Delaware Journal

What to do now: We are in a race against time. A recession is fast approaching. The Federal Reserve is hiking interest rates for the foreseeable future. The Fed has said “to heck with the suffering.” They are taking dead aim at wages and living standards and making no effort to cloak their intentions. This is a life and death moment. We saw it on Christmas weekend.

Only the NIB stands in the way of the incalculable damage. 2023 promises to be a decisive year. Let’s make sure it’s for the good!!

Make 2023 the Year of the National Infrastructure Bank.

Bringing New Water to the Colorado River, and a National Infrastructure Bank to Finance It

Mon, 26 Dec 2022 18:35:59 GMT

Mike Wade, “Imperial Valley can’t sustain another water cut,” Dec. 14, is absolutely right. However, if we can’t get new water to the Colorado River, and even though conservation is important, no amount of conservation is going to fix this problem.

Here’s one solution to avoid the looming disaster. The National Infrastructure Bank (NIB) set out in House Resolution 3339 would provide $5 trillion in low-cost loans for a broad range of public infrastructure projects – including massive water systems – without the need for increasing taxes or any deficit budget spending. This bill is modeled on the successful Reconstruction Finance Corporation (RFC) started by President Hoover and used by President Roosevelt to build Hoover Dam and bring water and electricity to the Southwest.

The NIB is prepared to invest up to $400 billion to bring new water to the Colorado River and the Southwest. One possibility would be to divert water from the Atchafalaya River in Louisiana through Louisiana, Texas, New Mexico, Arizona and up to the Glen Canyon Dam.

In this proposal, no water would be taken from the main channel of the Mississippi. As of December 19, 1.43 million gals/sec of Atchafalaya River water was simply going into the Gulf of Mexico without producing electricity or supporting commercial shipping. Taking just 100,000 gals/sec (7%) of this water would fill Lakes Powell and Mead to 50% capacity in one year and 9 months. The project would save on construction costs by using an existing facility – the Old River Control Complex just south of Vidalia, Louisiana, where the Army Corps of Engineers diverts 30% of the downflow of the Mississippi to prevent flooding in New Orleans. This undertaking would build a 1400 mile series of pipelines, open channels, tunnels, and pumping stations (similar to the California, Los Angeles, Colorado River Aqueducts and the Central Arizona Project). It could be built in a year, along interstate highway rights-of-way, using huge earth moving machines like those employed in Holland for their canal systems.

There is historical precedent for building systems like this project with deliberate, urgent, speed. In less than a year between 1942 and 1943, the RFC financed and built TWO pipelines of similar length, 1200 and 1400 miles, to carry crude oil from Texas oil fields to the East Coast. These pipelines rescued the entire East Coast industrial oil refining system and won World War II for the Allies.

Such a water aqueduct system might cost on the order of $14-23 billion, a small amount for a $5 trillion bank and also small compared to cutting off water supplies to farmers in the Southwest who produce $39 billion worth of our annual food supply. Without new water in the Colorado, food prices will skyrocket more than they already have, and we will all needlessly suffer. It is also unthinkable to allow water levels in Lakes Mead and Powell to fall to the point where the dams can no longer generate electricity or provide drinking water.

We don’t think anything about pumping crude oil and gasoline through 190,000 miles of U.S. pipelines from areas that have oil and gasoline to areas that don’t. We certainly can do the same with water.

All U.S. Senators and Representatives, regardless of party, should get behind HR3339 and vote for the National Infrastructure Bank.

Note: This opinion piece by Don Siefkes and Alphecca Muttardy was posted in The Desert Sun and Yahoo News. You can see the published article here .

Open Letter to the Biden Administration on America’s Economic Plan

Fri, 23 Dec 2022 20:38:52 GMT

Here is our reply to an interview this week between Politico and White House Advisor Brian Deese on the administration's economic plan for 2023.

The big question is can the administration's policies tame inflation, avoid a recession, and buoy the economy in the ways that Mr. Deese envisions? The likely answer is no. Here are the reasons why:

* The Fed's policy aims at taming inflation by raising interest rates, lowering demand, and putting millions of people out of work. It does not address inflation's underlying causes: supply disruptions and corporate profit taking. Therefore the Fed will need to overshoot on raising rates, which will bring on a broad, deep recession, according to economists Joseph Stiglitz, Nouriel Roubini, Robert Reich, Mohamed El-Erian, and others.

* In addition, Fed tinkering could badly damage the financial system (banks, shadow banks, housing, and the stock market; crypto is already dead) and lead to another financial crisis that would worsen the recession.

* Even ahead of the downturn, Federal budget spending on infrastructure and manufacturing is wholly inadequate to raise productivity, re-shore manufacturing, or restore the U.S. as a superpower. We could face spiking food prices over the next five years as a result of our failure to stem global warming and address drought in the Southwest where we grow half of our country's food. Meanwhile, Congress rushes to raise unproductive defense spending in the budget, even before helping Americans struggling to make ends meet, or to avoid becoming homeless.

* The nation's huge debt overhang means the budget is not in a position to bail out the economy this time, as it did in 2008 and 2020.

* None of the above outcomes bodes well for Democrats in the 2024 election.

Fortunately for Mr. Deese, there is a better way to fight inflation , save jobs, and curb a recession. A bill in Congress, HR 3339 with 20 co-sponsors, would create a $5 trillion national public bank to lend for infrastructure projects in every corner of America. Specifically, it would:

* Finance the remaining 90% of infrastructure projects that the Bipartisan Infrastructure Law, and Inflation Reduction Act, do not cover (e.g. 100% of unsafe bridges and lead service lines; more rapid transit and high speed rail to end congestion and save billions of gallons of wasted fuel; 7 million affordable housing units built for the very lowest-income earning families; expanding the electric grid to transport renewable power and improve grid resiliency; and new water supplies for farmers to sustainably grow our food; see Power Point Presentation on the National Infrastructure Bank (NIB) Coalition's home page).

* Capitalize and provide credit like any bank does, with no need for new Federal debt, taxes, or spending.

* Create millions of great paying jobs to support working families and reduce poverty.

* Promote small and medium businesses and American manufacturing through the NIB's Buy America provision.

* Substantially raise economic growth, even at near full employment, and improve revenues flowing to Federal, state, and local governments.

* Combat inflation by increasing the supply of goods, making our economy more efficient (imagine transportation bottlenecks eliminated, better connectivity in rural areas, fewer supply chain problems at ports, and more domestic manufacturing stimulated by infrastructure building projects). And,

* Lean against any recession by hiring and training the unemployed for new permanent, great paying jobs.

Let's face it. There is no Plan B for this coming recession. This National Infrastructure Bank is the only option the budget "can afford", and Congress would be willing to get behind. And it is already supported by a grassroots coalition of state and local legislatures on a bipartisan basis, and workers and businesses who just want decent paying jobs that their families can live on. Let's get rolling on this bill to save our economy and get America producing again!

By Alphecca Muttardy, Macroeconomist with the Coalition for a National Infrastructure Bank

HAPPY HOLIDAYS

Video Dec 15, “ ‘Scrooge’ Jay Powell’s Recession! Give the Gift of the National Infrastructure Bank”

Mon, 19 Dec 2022 19:53:19 GMT

Public Bank Chair Ellen Brown, New Jersey Assemblyman Don Guardian, and Cornell Law Professor Robert Hockett led a feisty discussion on a December 15 National NIB Zoom Town Hall to halt the economic downturn and promote a Hamiltonian industrial recovery.

NIB senior economist Alphecca Muttardy kicked off the discussion with an update on the current economic crisis and the fight on inflation. On the one hand, Americans want to celebrate the joy of the holidays, and, of course, keep their jobs. Instead, we are faced with an onrushing recession forced on us by Jay “Ebenezer Scrooge” Powell and his pals. What Charles Dickens said of Scrooge could easily be said of Powell, and Larry Summers.

The Coalition for a National Infrastructure Bank (NIB), and our allies in and out of government, have one answer to Powell: “Bah, Humbug!”

The National Infrastructure Bank, as embodied in HR3339, was presented as the only alternative to this insanity, as it will create 25 million new high-wage jobs and build our infrastructure and spark an industrial recovery. The NIB will “make America make again.”

In the course of the discussion, national activists reported on meetings that they participated in over the last several weeks with Congressional offices and other elected officials which are resulting in more co-sponsors to HR3339.

In addition, reports were given on resolutions that have recently passed urging Congress to support HR3339, including the Los Angeles City Council, the National Asian Pacific American Caucus of State Legislators, the Council of State Governments-East and many more. (See Action Page for latest updates.)

In the spirit of the season, let us answer Tiny Tim’s prayer: “God bless us every one!” Watch video here. https://youtu.be/AqocR4AuDnc

Speakers:

Alphecca Muttardy , Former Senior Economist, International Monetary Fund, Fairfax, Va

Ellen Brown , Chair Public Banking Institute, Los Angeles, Ca

Professor Robert Hockett , Edward Cornell Professor of Law and Finance, Cornell Law School, New York, NY

Asm Felix Ortiz , Assistant Speaker New York State Assembly (fmr), Albany, NY

Asm Don Guardian , New Jersey State Assembly, former Mayor, Atlantic City, NJ

Sen Dave Miramant , Maine State Senator (fmr), Knox, Me

Mark Strand , Secretary-Treasurer, New Mexico Federation of Labor AFL-CIO, Albuquerque NM

Craig Swartz , Candidate for Congress 5th CD Ohio; Chair, Wyandot County Democratic Party, Upper Sandusky, Oh

Moderator: Julie Olsen , MBA, Small Business Entrepreneur, Pacific Northwest, Anchorage Ak

Los Angeles City Council Supports the National Infrastructure Bank Act, HR3339

Fri, 25 Nov 2022 21:28:15 GMT

On November 22, 2022, the Los Angeles City Council passed a resolution in support of HR3339, the National Infrastructure Bank Act.

"NOW, THEREFORE, BE IT RESOLVED, with the concurrence of the Mayor, that by the adoption of this Resolution, the City of Los Angeles hereby includes in its 2021-2022 Federal Legislative Program SUPPORT for H.R. 3339 (Davis), the National Infrastructure Bank Act of 2021, to create a National Infrastructure Bank and address the infrastructure needs of Los Angeles and the nation."

Video Nov 17, “The Next Steps: The American System and the National Infrastructure Bank”

Tue, 22 Nov 2022 18:59:42 GMT

Public Banking Institute Chair Ellen Brown, Pennsylvania State Representative Eddie Day Pashinski and New Mexico Senator Bill Tallman led a feisty Town Hall Zoom Meeting, “The Next Steps: The American System and the National Infrastructure Bank.” ( View here. )

With the election in the rearview mirror, the issue on the table now is how to govern and build the nation. The out-of-control Federal Reserve and its allies are hell-bent on forcing millions of people out of work, in the name of fighting inflation. Congress and the White House are hamstrung by the deeply-indebted budget and have no money to spend on a recovery.

Enter the American System and the National Infrastructure Bank. In similar periods of national economic distress, the American System industrial policy of Alexander Hamilton, Abraham Lincoln, and Franklin Roosevelt lifted the nation out of despair and built an industrial juggernaut second to none. National Banks played crucial roles in making that happen.

All the participants reported on how they are organizing more support for the nonpartisan $5 Trillion National Infrastructure Bank HR3339.

In defining the next steps to be taken, a 6-week mobilization was initiated in order to secure more co-sponsors for HR3339 before the end of the year.

The time for action is upon us. Join the mobilization and invite your friends.

Speakers:

Alphecca Muttardy , former Senior Economist, International Monetary Fund, Fairfax, Va

Ellen Brown , Chair, Public Banking Institute, Los Angeles Ca

Rep. Eddie Day Pashinski , Pennsylvania House of Representatives, Wilkes-Barre, Pa

Sen. Bill Tallman , New Mexico Senate, Albuquerque, NM

Rep. Terri Cortvriend , Rhode Island House of Representatives, Portsmouth, RI

Asm. Felix Orti z, former Assistant Speaker New York Assembly, Albany, NY

Dylan Osborne , Harris County Treasurer, Houston, Tx

Moderator: Julie Olsen , MBA, small businesswoman, Chair Progressive Caucus, Alaska Democratic Party, Anchorage, Ak

San Francisco Chronicle Publishes Letter on National Infrastructure Bank, HR3339

Wed, 09 Nov 2022 23:12:27 GMT

On November 9, 2022, the day after the U.S. election, the San Francisco Chronicle published a Letter to the Editor, “National Infrastructure Bank could finance rebuild of U.S.” Here’s the text.

Regarding “Vote to make the region more liveable” (Endorsement, Nov. 4): I certainly agree with The Chronicle’s position on housing being the most important election issue.

The best solution, however, is simply to pass HR3339, a bill currently in Congress that would form a $5 trillion dollar publicly owned National Infrastructure Bank modeled after the Reconstruction Finance Corporation begun by President Hoover and used by President Franklin D. Roosevelt to get us out of the Great Depression and win WWII.

The Reconstruction Finance Corp. financed numerous projects around the Bay Area and California, including the Bay Bridge. A National Infrastructure Bank could finance affordable housing, roads, bridges and high-speed rail all without increasing taxes or government debt. It would create millions of jobs and lower inflation. Hard to believe, but it’s true. See www.nibcoalition.com.

Rep. Barbara Lee, D-Oakland, is co-sponsoring this bill, but other Bay Area representatives have not signed on. Please contact your representatives and ask them to co-sponsor HR3339.

Don Siefkes, San Leandro

NEW MEXICO OFFICIALS ADDRESS NATIONAL LATINO FARMERS AND RANCHERS CONGRESO IN SUPPORT OF THE NATIONAL INFRASTRUCTURE BANK

Sun, 06 Nov 2022 18:07:30 GMT

On October 28, 2022, New Mexico Leaders addressed the 3 ^rd Annual National Latino Farmers and Ranchers (NLFR) Congreso in Albuquerque, New Mexico. Participating in the NLFR panel were State Senator Bill Tallman, State Representative Joy Garratt, Immediate Past State Director, League of United Latin American Citizens (LULAC) Dennis Montoya, and NIB Senior Economist Alphecca Muttardy, who addressed the conference via Zoom. Conference organizer Antoinette Lucero moderated.

Panelists addressed the immediate infrastructure problems facing New Mexico especially the shortage of water. From that standpoint, they all spoke of why they are promoting “The National Infrastructure Bank Act”, HR3339, as the solution to their infrastructure needs.

The first speaker, Senator Bill Tallman, began by putting the national infrastructure crisis in the proper context “The United States looks like a third-world country because we haven’t invested a sufficient amount in infrastructure.” He addressed the shortfall of funding from the latest Bi-Partisan Infrastructure Law (BIL), saying that it is “too small to cover all of the needs of New Mexico,” and, regarding water, he said It covers 1/6 of what we need.” Tallman spoke of the growing support in the country for the NIB, and that he is the key sponsor of a Senate Resolution.

The next speaker was Representative Joy Garratt, who began by praising the NLFR, the sponsor of the event. Garratt emphasized the need for a “comprehensive and innovative long term vision,” and why she introduced a House resolution in support of the NIB. She spoke of the urgent need for water, by detailing all of the state’s water needs. She said, “Water is life,” which takes massive funding. Garratt said that she is the granddaughter of farmers, who had to leave NM due to a shortage of water, and she wants to ensure that the same thing does not happen to the younger generation there today.

Dennis Montoya, who followed Garratt, said that he believes that the NIB would “represent and benefit our constituency group.” He said that we are in a 1200-year drought and that the local water sources in his area are “barely enough water to irrigate.” He referred to the resolution that NM LULAC passed in support of the NIB, and that he worked with members of Congress in New Mexico, of which two out of three are co-sponsors to HR3339. Montoya proudly said that his father benefited by FDR’s NEW Deal, which used a similar bank, when he worked in the Civilian Conservation Corps (CCC), and was paid high wages.

The final speaker was NIB economist Alphecca Muttardy who laid out the mechanics of the bank, and compared it to the BIL. In particular, she spoke about how the NIB would solve “regional problems and solutions,” especially for farmers, and that the NIB would provide adequate funding for both drinking water, sewage treatment and large-scale water projects. Muttardy assured the participants that the NIB would supercharge the economy, by creating 25 million new high-paying jobs, and would bring investments to low-income, disadvantaged communities and tribal areas, without creating any new federal debt or taxes.

Watch this critical video and learn how the NIB will solve our critical infrastructure needs.

October 27 Video: Pre-Election Town Hall: “How to Beat Inflation and Recession: Build Industry, Create the National Infrastructure Bank”

Mon, 31 Oct 2022 17:11:11 GMT

On October 27, the NIB Coalition conducted a pre-election Zoom town hall featuring Public Banking Institute Chair Ellen Brown, IMF Senior Economist Alphecca Muttardy and former Assistant Speaker of the New York Assembly Felix Oritz, entitled “How to Beat Inflation and Recession: Build Industry, Create the National Infrastructure Bank.”

The forum presented the real story of the upcoming mid-term election which is being played out off-camera. Federal Reserve Board Chairman Jerome Powell and the Fed Board of Governors are relentlessly raising interest rates, with little concern for the fallout. They are driving the country towards an economic recession or worse. This reckless policy is running the risk of blowing up the financial system, by possibly detonating a disintegration of the mostly worthless financial paper they themselves created. The recent collapse of the British pound, and the government, in a matter of days, might be a sign of things to come.

The forum participants laid out the positive side of this crisis by showing how support for an American industrial build-up and the National Infrastructure Bank Act, HR3339, is expanding. They detailed how discussions of reshoring American production are making their way into the public discourse, and that the $5 trillion National Infrastructure Bank (NIB) has the financial heft to drive a recovery led by infrastructure construction. The NIB will hire the millions of people Jerome Powell plans to kick off their jobs. It will spark a larger “Buy America” revival. A raft of recent Op-eds, interviews, and paid media showed how the NIB is raising awareness. At time same time, more elected bodies of government are endorsing the Congressional bill.

Nobody knows how the elections will turn out, but the forum participants made clear that the campaign for the National Infrastructure Bank will continue on. A new congressional bill will be introduced in 2023, which will give the Congress and the country one more opportunity to turn this onrushing recession into an economy that will focus its firepower on manufacturing, high-paying jobs,

and building infrastructure, and one that will work for everyone.

Let your friends and colleagues know that there is a way out of this economic mess and that we have a movement to make it happen.

Speakers:

Alphecca Muttardy , former Senior Economist, International Monetary Fund, Fairfax, Va

Ellen Brown , Founder and Chair, Public Banking Institute, Los Angeles, Ca

Asm. Felix Ortiz , former Assistant Speaker New York Assembly, Albany, NY

Sen. William Tallman , New Mexico Senate, Albuquerque, NM

Gayle McLaughlin , City Council member and former Mayor, Richmond, Ca

Walt McRee , Chair Emeritus, and Senior Advisor, Public Banking Institute, Princeton, NJ

Moderator: Robert Lynn , Organizer and Political Director United Association of Plumbers and Steamfitters Local 50, Toledo, Oh

October 19 Video: “Rebuild the Nation with a New Reconstruction Finance Corporation”

Sat, 22 Oct 2022 18:03:38 GMT

The October 19 NIB Zoom Town Hall featured Emmy Award-winning author Steven Fenberg, Public Banking Institute chair and author Ellen Brown, and macroeconomist Alphecca Muttardy for a timely discussion, “Rebuild the Nation with a New Reconstruction Finance Corporation.

The compelling dialogue that unfolded began with opening remarks from macroeconomist Alphecca Muttardy who indicated that there is presently a bill in Congress, HR3339, to enact a $5 trillion National Infrastructure Bank (NIB), for building designated infrastructure projects across the country. The NIB mirrors a previous bank, the Reconstruction Finance Corporation (RFC), which was used by President Franklin Roosevelt. NIB senior economist Muttardy used a Power Point to show how the bank works, with no new federal taxes or debt, and how it would respond to inflation and recession concerns.

Following Muttardy, author Steven Fenberg detailed how the NIB “can do what was done by the RFC during the Great Depression and World War II.” Fenberg emphasized that the RFC was a “lending not a spending” institution, and can be used today by issuing long term, low interest loans. The author used the example of FDR’s Rural Electrification Administration (REA), as a model for today for broadband access for rural areas and laid out many examples to illustrate this.

Fenberg concluded, “Great monumental things were once done by our Federal Government and the people of the United States. And the ingredient to all of this is to embrace our government as something patriotic and something great that we can all support.”

The next speaker Public Banking Institute Chair Ellen Brown, laid out why we need an RFC. Brown indicated that in addition to the two infrastructure bills that were recently passed by Congress, the Bi-Partisan Infrastructure Law in 2021, and the Inflation Reduction Act of 2022, that “we still have major infrastructure that needs to be built.” She used the example of water in California, where she resides, and showed how much of the infrastructure projects today must be financed “off-budget.”

The public banking expert used examples of independent banks used by both Japan and China. Brown stated that China has 3 development banks, and “went from one of the poorest countries in the world to a global economic powerhouse in 4 decades.”

A lively dialogue among the speakers ensued, moderated by Alaska small business operator Julie Olsen, which engaged the other participants into a riveting discussion overall.

Call your member of Congress and urge them to co-sponsor HR3339, ask your friends to call Congress too.

VIDEO: Sept 29, “Defeat the Fed’s Recession: A Hamiltonian Buildup of Infrastructure and Industry”

Tue, 04 Oct 2022 19:20:12 GMT

The September 29 NIB Zoom Hall set the stage for the current infrastructure and economic breakdown facing the country. The forum, addressed by leading economists and elected officials, challenged the current financial policy of Fed Chair Jerome Powell and former Treasury Secretary Larry Summers.

NIB senior economist Alphecca Muttardy set a serious tone for the meeting in her opening remarks, “Not only is our infrastructure crumbling around the country, our economy, and maybe even our financial system is crumbling as well.” Muttardy laid out the workings of the National Infrastructure Bank (NIB), demonstrating that this is the only antidote to the proposed Powell/Summers recession.

The next speaker was Cornell Law and Finance Professor Robert Hockett, who complemented Muttardy’s remarks, but from a wider lens. Hockett detailed how the country has gotten to the point of rampant inflation, due to decline of production over decades, going back to the 1980’s and 1990’s. This has resulted in the supply chain vulnerability that we face today. Hockett said that the “chickens are coming home to roost,” at a time when our infrastructure has been rated in the “Ds” by the American Society of Civil Engineers (ASCE.) He stated that the only way to deal with the infrastructure problem, in addition to inflation, is to increase production before the country goes into a “deflationary spiral.”

The Professor also praised his personal hero, “Alex Hamilton.” Hamilton’s intention was to ensure that the Unites States would be an “independent country and not a failed state.” Professor Hockett challenged the viewers to “take charge of our own economic diversification and our own national productive capacity.” He said this is “existentially important, in addition, to economically important to anybody who wants to remain an American who lives in a country that can be called the United States of America.”

Dr. Lawrence Chimerine, former CEO Chase Econometrics and the WEFA Group, castigated Fed Chair Powell and cohort Summers’ policy, by asking and answering the question: “What should the Fed be doing right now?” Chimerine pulled no punches, “A clear signal to the Fed is that what you are doing is unnecessary and likely to cause a recession, and a very nasty one, if you continue to raise rates rapidly in the months ahead….it is time to pause right now.”

Walt McRee, Chair Emeritus and Senior Advisor for the Public Banking Institute, made the case for the NIB. McRee set up the problem by saying that the “systemic infrastructure problem” has been caused “by private capital controllers.” McRee continued, “The NIB holds the necessary keys to get out of this infrastructure blockage.” He said, “Banking is a utility. It belongs in public hands, and the NIB sets a table for that.”

A lively Question and Answer session followed the formal remarks.

Please watch the riveting dialogue and spread the word. ( Click here for video. )

The Hobby Hour with Steven Fenberg: “Jesse Jones, Capitalism and the Common Good”

Fri, 23 Sep 2022 20:39:12 GMT

On September 21, 2022 award-winning author and producer Steven Fenberg gave an hour long presentation entitled, ”Jesse Jones, Capitalism and the Common Good” as part of the University of Houston’s Hobby School of Publics Affairs’ The Hobby Hour.

Fenberg chronicled how the federal governmentʼs Reconstruction Finance Corporation (RFC) expanded the U.S. economy during the Great Depression and transformed industry in time to win World War II. The indispensable agency was led by the legendary Jesse H. Jones, early Houston's preeminent developer and a primary figure in President Franklin D. Roosevelt's administration.

Fenberg described the federal agency's successful strategies and how they can be adapted to address today's challenges. He cited a current bill in Congress, HR3339, which calls for a $5 trillion National Infrastructure Bank which would invest in today’s crumbling U.S. infrastructure, just like the RFC did in the 1930s.

Fenberg is the author of "Unprecedented Power: Jesse Jones, Capitalism and the Common Good" and executive producer and co-writer of "Brother, Can You Spare a Billion?" an Emmy Award-winning PBS documentary film narrated by Walter Cronkite.

Mississippi Media Covers National Infrastructure Bank Op-Ed to Solve Jackson Water Crisis

Mon, 19 Sep 2022 18:00:25 GMT

On September 16, the Mississippi Free Press and the Starkville Daily News published an Op-Ed issued by the Coalition for a National Infrastructure Bank, ‘‘The Last Will Be First’: National Infrastructure Bank’s Plan for Jackson’s Failed Water System.” The Op-Ed calls for using a National Infrastructure Bank, as proposed in Congressional bill, HR3339, to address the water crisis in Jackson and the overall infrastructure crisis in the state. It is signed by two dozen elected officials from Mississippi and across the country.

HR3339 would create a $5 trillion public bank, easily able to finance all the projects starting with repairing and replacing the failed Jackson system in its entirety. The failure of the Jackson water system is just the latest horrible, and unnecessary, example of what is needed throughout the country.

In addition to the Mississippi Free Press, the Op-Ed has been picked up by four other news media and more are expected this week.

Sept 8 Zoom Town Hall, “An American System Industrial Recovery or Fed Chair Powell’s Nightmare Recession!”

Tue, 13 Sep 2022 22:37:52 GMT

NIB Coalition’s September 8 Zoom Town Hall “United States at the Crossroads: An American System Industrial Recovery or Fed Chair Powell’s Nightmare Recession!”

On September 8, the Coalition for a National Infrastructure Bank sponsored a national Town Hall to address the unfolding financial and economic crisis gripping the nation. This timely event occurred against the backdrop of galloping inflation and the potential of a deep recession. Intersecting this debate is the very real crumbling of U.S. infrastructure. The current focus is the national water crisis, viz. drought in the West and the collapse of the drinking water system in Jackson, MS.

The economists addressing the forum included Cornell University Edward Cornell Professor of Law and Finance Robert Hockett, Public Banking Institute (PBI) Chair Ellen Brown, and former IMF Senior Economist Alphecca Muttardy. The three experts opposed the potentially destructive policy of Fed Chair Powell and his army of allies in the economic community, including the ubiquitous Larry Summers.

Professor Hockett identified the root of the problem. The policy of Powell is to address “inflation” as solely a “monetary issue”, to quote Augusto Pinochet adviser Milton Friedman. The predictable result will be mass unemployment and a deep recession. This outcome is neither desirable nor required, stated the experts at the event. Instead, the government should focus on building up “supply” and adding productive jobs, the other half of the “supply and demand equation.”

This will require a return to the political economic outlook last espoused in the large by President Franklin Roosevelt during the New Deal and the WWII industrial expansion. One way to achieve this is to create a National Infrastructure Bank, as identified in HR3339, now increasing sponsors in the Congress.

During the webinar, Professor Hockett likened the policy of economic recession and prior downsizing of the US economy to a hospital patient who had willfully cut off several limbs and part of his brain to help his physical well-being. The parallel to today’s equally destructive proposals was missed by nobody participating in the event.

Joining the economists were several state elected officials, including Washington State Senator Bob Hasegawa and former New York Assembly Assistant Speaker Felix Ortiz, who have been leading the effort to pass HR3339.

Other developments include:

On September 1, 2022 PBI Founder and Chair Ellen Brown, released an extensive article on how to solve drought in the Southwest. In the course of her piece, she too endorsed HR3339 which would create a $5 trillion National Infrastructure Bank (NIB). Brown’s article was published on a multitude of websites, including, Scheerpost, Common Dreams and Counterpunch.

On September 2 and 3, two of the most important newspapers in New Mexico, the Santa Fe New Mexican and the Albuquerque Journal published a lengthy OP-Ed submitted by dozens of elected and political officials in New Mexico endorsing HR3339 as a policy that could bring water into the parched Southwest.

The United States stands at the crossroads. The video of the meeting is available here .

Please share it with your friends.

Prominent New Mexico Newspapers Publish Op-Ed Calling for National Infrastructure Bank

Tue, 06 Sep 2022 20:04:40 GMT

The largest New Mexico newspapers, the Santa Fe New Mexican and the Albuquerque Journal , published an Op-ed on September 2 and 4, respectively, issued by state elected officials calling for a National Infrastructure Bank.

The Op-ed entitled, “National Infrastructure Bank Will Bring West Much-Needed Water,” was penned by Albuquerque Democrats Sen Bill Tallman, Sen Gerald Ortiz Y Pino, Rep Joy Garratt and Rep Debbie Sarinana.

The text of the Op-ed follows:

The western water crisis and the massive infrastructure and industrial needs of the country are again making headlines. The solution is a bill in congress, in Congress, HR 3339, which would create a National Infrastructure Bank (NIB). The NIB would invest $5 trillion into infrastructure projects and would require no new federal spending and no new federal taxes.

The NIB would finance everything the Congress has not funded: all the roads and bridges, dams, levees, broadband everywhere, passenger rail, high speed rail, power transmission, seven million units of affordable housing, and more. This bank would complement the recently passed Bipartisan Infrastructure Law (BIL), and the Inflation Reduction Act (IRA).

The new National Infrastructure Bank is modeled on four previous institutions which helped build our infrastructure in the past. The last one, under President Franklin Roosevelt, built most of the water projects in the West, ended the Great Depression and helped win WWII.

The bank will address the Western drought! The NIB will invest $400 billion to build new systems and bring water into the West. These could include: water redistribution, water pipelines, desalination, recycling, rainwater capture in local aquifers, irrigation and agricultural conservation, and tapping deep-seated water. This national drought relief plan will be configured to control, utilize, and harness water in an ecologically sound way.
A recent article in the California paper Desert Sun outlined a well-designed water pipeline from the Mississippi River to Lake Powell and Lake Mead. It has garnered a million views! The pipeline would be routed near Albuquerque en route to the Colorado River. The NIB could finance that project and more.
The National Infrastructure Bank will create millions of new jobs , pay Davis-Bacon wages, and mandate Buy America inputs into the projects. Experts conclude that the NIB will increase GDP 5% annually, and productivity by 3.5% per annum.

Support is mushrooming. Twenty-four state legislatures have introduced or passed resolutions urging Congress to act on HR 3339. Many national organizations are on board, including the National Latino Farmers and Ranchers Trade Association, National Association of Counties, Council of State Governments Eastern Region, National Black Caucus of State Legislators, US High Speed Rail Association, the American Sustainable Business Council.

Western state legislatures are joining the effort. Resolutions of support were introduced into both houses of the New Mexico legislature and both houses of the Arizona legislature. It passed both houses of the Nevada Legislature and recently passed the California Assembly, unanimously.

Other organizations in New Mexico which endorsed HR 3339 include: The Central New Mexico Central Labor Council, LULAC New Mexico, AFLEP (New Mexico’s Public Banking organization), Indivisible Albuquerque, and many more. Two New Mexico congresswomen, Rep. Teresa Leger Fernandez and Rep. Melanie Stansbury are cosponsors of HR 3339.

We stand ready to help! We can bring in all the water we need, and build a 21 ^st Century infrastructure platform which will again be the envy of the world.

Additional Supporters
Other backers of the bank include Sens. Liz Stefanics and Antoinette Sedillo Lopez; Reps. Angelica Rubio, Elizabeth Thomson and Gail Chasey; League of United Latin American Citizens national Treasurer Pablo Martinez; N.M. Democratic Party Treasurer Rayellen Smith and Bernalillo County Treasurer Nancy Bearce.

Link: https://www.abqjournal.com/2529396/national-infrastructure-bank-will-bring-west-muchneeded-water.html

New Resolutions Pass Supporting National Infrastructure Bank, HR3339

Mon, 22 Aug 2022 18:51:19 GMT

At two mid-August conferences, Council of State Governments East (CSGEast) and the New Mexico Democratic Party (DPNM) Rural Caucus, resolutions passed in support of HR3339.

On August 15, 2022, CSGEast passed a resolution supporting the National Infrastructure Bank, HR3339.

"The CSG Transportation Policy Committee unanimously approved the resolution on Monday, 8/15, and then on Wednesday, 8/17, the CSG-Executive Committee considered it and also unanimously approved the resolution. So, it is an approved resolution from the Council of State Governments - East Region. It will be distributed broadly to federal elected officials, the Governors of the Northeast States, State Legislative Speakers and Senate Presidents, Eastern Canadian Province Leaders; as well as trade associations, and others concerned with surface transportation policy."

The following is the statement from the New Mexico Democratic Party (DPNM) Rural Caucus:

"On Sunday, August 14, 2022, the Executive Committee of the DPNM Rural Caucus voted to adopt a platform resolution in support of a National Infrastructure Bank.

Rural communities in New Mexico would greatly benefit from investments enabled by a National Infrastructure Bank. Besides supporting our communities economically, these projects will provide solutions to climate change, accelerate the equitable transition to clean energy, sustain tribes, pueblos and small municipalities with clean drinking water and support the agricultural and cultural heritage that is the vibrant heart of our people.

We are grateful for all efforts that support U.S. H.R. 3339 and/or similar legislation that works to establish a National Infrastructure bank."

National Infrastructure Bank Representatives Featured in Prominent Podcast Interviews

Sat, 20 Aug 2022 19:08:28 GMT

Over the last two weeks, representatives of the Coalition for the National Infrastructure Bank (NIB) have been featured in two podcast interviews. The first on August 6, 2022, hosted by Arizona Representative Pamela Powers Hannley, was a 51-minute exchange with Public Banking Institute Chair Ellen Brown, Cornell Law Professor Robert Hockett, and Senior Macroeconomist Alphecca Muttardy. The dialogue was broad-ranged, entitled, "National Infrastructure Bank Would ReBuild US, Create Jobs & Restore Global Competitiveness." Please listen here .

The second on August 18, 2022, was hosted by Ron Placone, a Los Angeles-based talk show host. Placone interviewed Alphecca Muttardy, NIB Senior Economist. The podcast, "Get Your News On With Ron," featured an insightful and fast-moving eighteen-minute interview. Muttardy elaborated on the workings of the NIB and the urgent benefits it would provide for the country, including large-scale water projects, high-speed rail, affordable housing, and much more. Placone seemed impressed and encouraged by the grassroots movement that brought about the legislation for the NIB, HR3339, and the Coalition's ability to mobilize growing national support. Please listen here .

VIDEO: “They’re Wrong!!: Stop Larry Summers and Fed Chair Powell from Shutting Down the Economy”

Mon, 15 Aug 2022 19:36:44 GMT

On August 11, 2022, the Coalition for a National Infrastructure Bank sponsored a timely economic forum entitled, “They’re Wrong!!: Stop Larry Summers and Fed Chair Powell from Shutting Down the Economy.”

The forum’s economic experts included: Dr. Nomi Prins , author and former Wall Street Executive; Robert Hockett , Cornell University Professor of Law; Ellen Brown , Public Banking Institute Chair, and Alphecca Muttardy , former Senior Economist, International Monetary Fund.

The discussion addressed the economic turmoil gripping the nation. All of the participants landed a hard punch against former Clinton Treasury Secretary Larry Summers’ current proposal to fight inflation. Summers is demanding ever-increasing interest rates to cause 5-10% long term unemployment. Fed Chairman Powell has been following that path over the past several months. If that policy prevails, Summers would succeed in his planned recession, which would eliminate millions of jobs, causing enormous suffering for the population.

As an alternative, each speaker argued that we need economic growth, not an enforced recession. One solution is to enact HR3339 and establish a National Infrastructure Bank, which would infuse $5 trillion into the economy, generating millions of new, high-wage jobs in infrastructure and production. Listen to this unique perspective, and find out what you are not hearing in the mainstream media. If you have not already, call your member of Congress and urge them to co-sponsor HR3339.

Speakers:

Alphecca Muttardy , former Senior Economist, International Monetary Fund, Fairfax

Professor Robert Hockett , Edward Cornell Professor of Law and Finance, Cornell University, New York, NY

Dr. Nomi Prins , Ph.D., Author and former Wall Street Executive, Los Angeles, Ca

Ellen Brown , Author, and National Chairman, Public Banking Institute, Los Angeles, Ca

Senator Liz Lovelett , Washington State Senate, Anacortes, Wa

Representative Lynne Williams , Maine House of Representatives, Bar Harbor, Me

James “Lou” Spencer , Vice-President Virginia State Building and Construction Council, Richmond, Va

Moderator: Julie Olsen , MBA, Small business owner, Chair Progressive Caucus, Alaska Democratic Party, Anchorage, Ak

Northwest Progressive Institute Publishes Muttardy Op-ed on Curbing Inflation with Hamiltonian Bank

Thu, 28 Jul 2022 18:03:58 GMT

On July 27, The Cascadia Advocate, an online newsletter serving Washington, Oregon, and Idaho, released an Op-Ed from Alphecca Muttardy, Senior Economist from the Coalition for a National Infrastructure Bank, challenging the irresponsible high interest rate policy of Federal Reserve Chairman Jerome Powell. The Op-Ed calls for the immediate return to an alternative program of large-scale infrastructure and industrial growth as embodied in HR3339, the National Infrastructure Bank Act. The Act is gaining growing support in the Northwest and nationwide.

Here is the Op-Ed:

Editor’s Note: We are pleased to welcome Alphecca Muttardy to the Cascadia Advocate to discuss the need for legislation that could strengthen our economy and reduce our infrastructure deficit: H.R. 3339. Alphecca is a macro-economist on the Advisory Board of the Coalition for a National Infrastructure Bank.

For the past sixty years, when our government fought inflation , it did so by cutting the money supply and raising interest rates, which almost always brought on a recession and loss of jobs. Then, the federal government spent more than it earned to bring those jobs back, which raised the national debt.

Today, our debt stands at $30.6 trillion, and the capacity to extend it further is exhausted. A recent Congressional Budget Office (CBO) forecast suggests that interest payments on the debt will explode over the next ten years – the result of rising interest rates. Meanwhile, the White House and Democrats in Congress are trying to figure out what kind of fiscal response the mercurial Senator Joe Manchin of West Virginia will agree to vote for.

We need to replace this proven cycle of failed policies with a proven set of workable ones. That’s where a properly constructed public bank comes in.

Legislation currently pending in Congress ( HR 3339 ) proposes to create a $5 trillion National Infrastructure Bank (NIB) to finance infrastructure projects all across America. It would be a separate institution, set up as a government-owned lending bank, and capitalized with existing Treasuries held by the public sector.

That’s the same model that was used successfully four times before in our nation’s past, starting with the First Bank of the United States , created by Treasury Secretary Alexander Hamilton, and ending with President Franklin Delano Roosevelt’s Reconstruction Finance Corporation (RFC).

Except for a very small appropriation from Congress to open its doors, the proposed NIB will pay its own way. It will not require new federal outlays or debt.

In fact, NIB operations will generate revenue for federal, state, and local governments by expanding the economy. NIB will also address the economic problems we’re seeing in the United States today by:

· Catalyzing the creation of millions of new, great-paying jobs to raise short- and long-term economic growth;

· Providing financing to deal with the backlog of infrastructure projects that are still unfunded, like local roads and bridges, water infrastructure, the electric grid, high speed rail, affordable housing, broadband, and more;

· Promoting a resurgence of American manufacturing;

· Combating inflation by increasing economic production and making our economy more efficient (imagine transportation bottlenecks reduced or eliminated, better connectivity in rural areas, fewer “supply chain” problems, greater supply and lower prices thanks to added manufacturing).

This legislation makes use of a proven model that has served our country well in the past. A nationwide grassroots coalition has come together to urge Congress and President Biden to get this done. Our country needs to adopt and pass H.R. 3339 to create a Hamiltonian National Infrastructure Bank. For more information on the NIB, and how you can help, check out the coalition’s website .

LINK TO THE CASCADIA ADVOCATE: https://www.nwprogressive.org/weblog/2022/07/theres-a-better-way-to-fight-inflation-save-jobs-and-curb-a-recession-create-a-hamiltonian-national-infrastructure-bank.html

Public Banking Institute Chair Ellen Brown Takes the Gloves Off Against Former Clinton Treasury Secretary Summers!

Wed, 27 Jul 2022 23:30:11 GMT

In a brand new article Public Banking Institute Chair Ellen Brown lambasts Larry Summers and others for advocating cruel new unemployment, by counterposing increased spending on jobs and infrastructure, including support for HR3339, The National Infrastructure Bank Act.

The article “ Interest Rate Hikes Will Not Save Us from Inflation ,” posted on Scheerpost, July 27, 2022, begins with:

“In prescribing cures for inflation, economists rely on the diagnosis of Nobel laureate Milton Friedman: inflation is always and everywhere a monetary phenomenon—too much money chasing too few goods. But that equation has three variables: too much money (“demand”) chasing (the “velocity” of spending) too few goods (“supply”). And “orthodox” economists, from Lawrence Summers to the Federal Reserve, seem to be focusing only on the “demand” variable.

The Fed’s prescription is to suppress demand (borrowing and spending) by raising interest rates . Summers, a former U.S. Treasury Secretary who presided over the massive post-2008 bank bailouts, is proposing to reduce demand by raising taxes or raising unemployment rates , reducing disposable income and thus people’s ability to spend. But those rather brutal solutions miss the real problem, just as Summers missed the crisis leading up to the 2008-09 crash. As explained in a November 2021 editorial titled “ Too Few Goods – The Simple Explanation for October’s Elevated Inflation Rates, ” we don’t actually have too much consumer money chasing available goods.”

Under the sub-title, “Solving Today’s Price Inflation” Brown concludes with her solution:

“That could be done again, assuming there is political will. Some pundits predict that the Fed will back off its aggressive interest rate hikes when the carnage from that approach becomes painfully evident, but it seems to be a phase we have to go through to convince policymakers that the Fed’s current tools are not able to curb the price inflation we have today. We need to stimulate local development with a national infrastructure and development bank like China’s; and for that, Congress needs to pass an infrastructure bank bill.

" Four such bills are currently before Congress. Only one, however, is capable of generating the nearly $6 trillion that the American Society of Civil Engineers says is needed over the next decade for U.S. infrastructure investment. This is HR 3339: The National Infrastructure Bank Act of 2021 , which would effectively be self-funded on the American System model – a critical feature given that the federal debt is at record levels. The bank would be capitalized with federal debt acquired in debt-for-equity swaps – federal securities for non-voting bank shares paying a 2% dividend. This capital would then be leveraged at 10 to 1 into low-interest loans, essentially at cost. The bank would be anti-inflationary, by bringing supply up to meet demand; would not require new taxes but would rather increase the tax base, by increasing GDP; and would require only a small Congressional outlay for startup costs, which would quickly be repaid. For more information on HR 3339, see the National Infrastructure Bank Coalition website .”

Professor Robert Hockett Takes on Former Treasury Secretary Larry Summers on How to Fight Inflation

Tue, 26 Jul 2022 22:22:40 GMT

On July 22, 2022 the NIB Coalition sponsored a Zoom Town Hall, “It’s the ‘Productive’ Economy, Stupid.” Included in the one hour and fifty-minute discussion, Professor Robert Hockett, Edward Cornell Professor of Law and Finance, Cornell University, Ithaca, NY, unleashed against the former treasurer secretary Larry Summers. Summers has recently been all over the news spouting his solution to fighting inflation. Here are some quotes from a recent Hockett article published in The Nation magazine challenging Summers’ theory.

“Today, with inflation clearly a major factor both in our domestic politics and in many other nations, the discussion has moved on to how best to solve the inflation problem. Former treasury secretary Lawrence Summers recently suggested that the solution—at least here in the United States—is to reverse the present rare moment of job and wage gains (the latter still well behind inflation) and increase the joblessness rate.

‘“We need five years of unemployment above 5 percent to contain inflation—in other words, we need two years of 7.5 percent unemployment or five years of 6 percent unemployment or one year of 10 percent unemployment,’ Bloomberg reported Summers as saying in a June speech in London.”

“Summers’s view—which, alas, is very much in keeping with contemporary orthodoxy—is rooted in the curious notion that if you make enough people poor by taking away their jobs, they won’t be able to buy goods or services, which will result in lower demand and, eventually, lower prices. But a policy of killing demand by taking jobs from 18 million Americans will leave an awful lot of collateral damage.”

“Before even considering such “kill the patient” remedies, we ought to ask whether better-targeted, non-carpet-bombing-style tactics are available.”

As an alternative to Summers’ insanity, Hockett proposes that we increase production by enacting HR3339 for a $5 Trillion National Infrastructure Bank which would create 25 million new high-paying jobs and create massive growth. Watch his provocative opening remarks and spread the word. Stopping Larry Summers is of utmost priority.

( Click here for video of Prof. Hockett's statement )

Read article here:

https://www.thenation.com/article/economy/inflation-reindustrialization-manufacturing

NEW VIDEO: “Alexander Hamilton, The American System, and Today’s Campaign for National Banking”

Tue, 05 Jul 2022 23:15:23 GMT

July 5, 2022 - Ellen Brown, Chair of the Public Banking Institute, Robert Hockett, Cornell University Professor of Law and Finance, Washington State Senator Robert Hasegawa and New York Assemblyman Felix Ortiz (fmr) were joined by elected officials from around the country for an Independence Day Weekend Mobilization Town Hall on the legacy of Founding Father Alexander Hamilton and the American System in today’s ongoing economic crisis.

The situation today is like that which faced the George Washington administration: large unpayable war debts and a non-existent productive economy. The United States was an economic basket case ripe for the taking. Under the bold leadership of Treasury Secretary Alexander Hamilton, the Congress assumed and funded all outstanding debt, and swapped it for equity in the newly minted Bank of the United States. That institution became the driving force in the transformation of the nation. We built internal improvements (i.e. infrastructure) and became a great manufacturing nation.

It is time to reclaim our past and implement Hamilton’s American System anew. Today the focus is around the creation of a new National Infrastructure Bank, as embodied in HR3339 and a National Reconstruction and Development Council.

We must build our way out of the crisis!

Public Banking Institute’s Ellen Brown and Cornell University’s Robert Hockett are experts on this tradition. They were joined by political and labor leaders from around the nation for a historic and dynamic discussion. Together they outlined a bold plan to build infrastructure and industry today, while drawing on the spectacular achievements of Hamilton and his collaborators. Watch this historic dialogue and spread the word.

Speakers:

Alphecca Muttardy , former Senior Economist, International Monetary Fund, Fairfax, Va

Robert Hockett , Edward Cornell Professor of Law and Finance, Cornell University, and expert on the Hamiltonian tradition, Ithaca, NY

Ellen Brown , JD, Chair Public Banking Institute, Los Angeles Ca

Asm. Felix Ortiz , former Assistant Speaker New York Assembly, Albany, NY

Sen. Robert Hasegawa , Washington State Senate

Maryjane Shimsky , Ph.D., Westchester County Board of Legislators, Dobbs Ferry, NY

Asm. Don Guardian , New Jersey Assembly, Atlantic City, NJ

Dr. Alan Green , Candidate for Missouri State Auditor, St. Louis, Mo

James “Lou” Spencer , Vice-President Virginia State Building and Construction Trades, Richmond, Va

Sen. William Tallman , New Mexico Senate

Moderator: Julie Olsen , MBA, Chair, Alaska Democratic Party Progressive Caucus, Anchorage, Ak

Economists Call for National Infrastructure Bank to Avoid Recession

websitebuilder@1and1.de — Thu, 23 Jun 2022 21:33:07 GMT

June 22, 2022 - Presently, the United States is undergoing a severe economic crisis. On the one hand, inflation is at a forty-year high, and on the other, the withering of productive economy is accelerating. The solution to this crisis was the subject of discussion at an emergency Zoom Town Hall sponsored by the Coalition for a National Infrastructure Bank (NIB) , on June 16, 2022.

To set the stage, there is a lack of agreement on the current cause and solution of America’s economic crisis, and this is the subject of heavy debate.

The prevailing narrative is that there are only two deadly choices to solve the problem, inflation or recession. In effect, the American people, once again, are being told they have no choice but to accept the “lesser evil.” However, the NIB Coalition provides an alternative, proven solution, which you will hear more about in this ninety-minute video.

Opening the town hall was Senior NIB Economist Alphecca Muttardy, who said, “Economists are divided on whether we’re going to enter into a recession. It doesn’t have to be this ‘Sophie’s choice,’ either the Fed clamps down and causes a recession, or the Fed does too little and we have stagflation, which really hurts everybody. There is a third way, and I really want to tell you about how the NIB can be this third solution.” This set the Town Hall into motion.

The dynamic discussion that followed offers Americans the only way out of our current economic crisis. Here is a preview of better things to come. For the full presentation watch the entire video .

The Town Hall was energized by two compelling and comprehensive PowerPoints, one, by Alphecca Muttardy, a 25-year IMF Macro-Economist, and the second, by Ellen Brown, Chair and Founder of the Public Banking Institute. Muttardy began by expertly detailing how the NIB works, followed by Brown who demonstrated how the NIB would use its money-creating powers to finance $5 trillion in infrastructure investments, based on the same banking principles established by Alexander Hamilton’s First Bank of the United States. Their presentations made a cogent case for the necessity and functionality of the NIB.

That nicely bookended two big-picture presentations by prominent economists, with totally unique perspectives. The first, was Dr. Nomi Prins, Ph.D, renowned author, journalist and speaker, and the second, Cornell University Professor of Law and Finance Robert Hockett. Here is a paraphrase of their remarks.

Dr. Prins weighed in. “I think the main problem, and there are many, is getting infrastructure projects to fruition, to actually get to a point where not only are they complete, but actually spur economic growth, solidity and equality,” ... So, “the idea of the organization of the finances for the completion of the projects is necessary, and that it can produce economic growth is very important. At a point where we have a $9 trillion Fed book a $30 trillion overhang of national debt, a $23.5 trillion GDP, a 130% debt to GDP ratio, we’re in a situation where we’re not getting enough done with that debt to begin with, so the idea is to repurpose it, and leverage it into actual projects.” . . .

Prins went on, “The reality is, we’re super, super, behind because we’re not consistently financing things to completion. ... So, having a general way of infusing financing into real economic growth, not monetary growth, reducing the uncertainty that is in the economy for good, not just when the Fed feels like it, not just when there’s more money injected in the economy, when rates have come down or rates go up, and there’s all sorts of tinkering around the edges in terms of the cost of money, but actually a flow that can actually get things done, than that’s something that should be of interest to everybody.”

She concluded by making the case for the NIB. “And so the idea of financing, kind of like the idea of how Wall Street finances, but using it for public purposes, and organizing it from the public perspective for a national bank, for public banking, and so forth, is just a way to do that so we can avoid having the same conversations. When I say ‘we’, I mean Congress, and I mean both sides of Congress. This should be appealing to both sides. . . When I was on Wall Street, where I was for a number of years, and that was just the way you got things financed, sometimes in a very bad and criminal way, so we’re not going to talk about that. This is a very direct and transparent way, which is a big part of this, in a way that you can actually see projects to completion and get returns back to the individuals, the corporations, and the entities in government that are involved in financing, and you actually see results.”

Following Dr. Prins, Professor Hockett zeroed in on the root cause of the economic crisis and how, historically, the United States solved similar problems in the past.

Hockett began, “[T]he old adage that inflation is too much money chasing too few goods carries with it an understanding that there is a relation between money supplies and goods supplies. And, what that in turn means, is that if you have an inflation problem there might even be too much money. But there can also be too few goods, or there might be both. All of the talk of late seems to be there, and almost no talk at all about the goods and services side of that. ... [T]he so called supply chain problems that the pandemic brought us, and the pandemic highlighted, but, in fact, the problem is actually a much longer vintage that’s been going on for much longer than this, and it’s been basically going on ever since the United States decided that it would be a good idea to have everybody else in the world produce the things that we use and that we purchase here . ... To make a long story short, what we have to do now is to jump start and accelerate production, and if we’re really serious about this, we have to re-shore production. ... We’re faced with a sort of mobilization challenge, a productive mobilization challenge.”

Hockett then detailed the historic precedent. “Now, there are two times in the Twentieth Century when we confronted mobilization of production challenges of a similar scale. One was the case of the First World War mobilization ... and the second, of course, was the Second World War mobilization. ... We seemed to have found a model in the 20 ^th century that was in essence a kind of a 20 ^th century update of the old Hamiltonian model which can also be viewed, and also been updated, by Samuel Chase and Abraham Lincoln during the Civil War, as well. But the sort of modern incarnation of the Hamiltonian vision seems to involve distinct functionalities. ... Now, the way that we handled that kind of coordination function in the case of the First World War mobilization was through a new entity called the War Industries Board. ... But, then we got to the time of the Second World War. We did this through a similar entity called the War Production Board and the WPB.”

Hockett made his summation. “So, in the First World War, the sort of financing arm that was associated with the War Industries Board was called the War Finance Corporation, the WFC. And then similarly, at the time of the Second World War, we made use of the essentially the direct descendant of the WFC known as the RFC, the Reconstruction Finance Corporation. ... And, I believe … the best way to do that is, essentially, to replicate that, sort of, two-part structure that served us so well in the First World War mobilization and the Second World War mobilization. ... The NIB, in effect, is providing us with at least the financial arm of this. It’s providing us with a later day RFC, a later day Hamilton’s First Bank of the United States. ...

“The draft bill that I put together about a year and a half ago, a version of which will be introduced in the Congress quite soon. The idea here is to form again a kind of coordinative council that combines, on the one hand, the White House, or the President, let’s say, and the Vice President, and the Fed Chair, and the Treasury Secretary, but also all the heads of all of the cabinet level agencies with primary jurisdiction over the nation’s principle industries and infrastructures, … along with … state and local officials … and various private sector representatives as well from the principles industries, whose factories are going to have be turning out the new infrastructure. … This ‘National Reconstruction Development Council’ would basically be the later day version of the War Production Board or War Industries Board and it would complement the NIB. …”

Following the Professor’s remarks, which ended the first segment of the ninety-minute dialogue, former New York Assemblyman Felix Ortiz called for “mobilization three,” as a follow-up to Hockett’s mobilization one and two. Ortiz said, “Now, we need to do mobilization number three, which is, we have to mobilize ourselves to make sure that we can take on Congress in the last 3-5 weeks they have left, to make sure that they are able to learn and articulate what we’re trying to do here . . . to find out what is their position on the NIB. The Assemblyman called on Congress, saying “either they act on and co-sponsor HR3339 or be fired in the November election.”

If you are the kind of person, when presented with two bad choices, and like to challenge the status quo, take the third choice. Call your member of Congress today and urge them to co-sponsor the National Infrastructure Bank Act, HR3339 .

Video: " Stop Runaway Inflation and Recession, Make America Produce Again!"

websitebuilder@1and1.de — Tue, 21 Jun 2022 16:08:32 GMT

June 16, 2022 -Ellen Brown, Founder and Chair of the Public Banking Institute; Dr. Nomi Prins, PhD, renowned author, journalist and speaker; and Cornell University Professor of Law and Finance Robert Hockett engaged an enthusiastic audience for an emergency town hall meeting on June 16, 2022.

Against the backdrop of skyrocketing inflation and looming economic recession, the speakers analyzed the causes of the economic crisis gripping the United States economy, and offered bold solutions. They detailed the growing divide between the mass of financial paper in circulation and the dwindling productive economy , and made it clear that the only way out of this crisis is to produce again. One solution is the enactment by Congress of a new National Infrastructure Bank as outlined in H.R.3339. Another proposal is the creation of a National Reconstruction and Development Council to coordinate an aggressive revival of American production.

The $5 trillion National Infrastructure Bank will require no new federal dollars and no new federal taxes. It will be big enough to fix everything and build new 21st Century infrastructure and industry. The National Reconstruction and Development Council will be modeled on the highly successful WWII War Production Board. The WPB and the Reconstruction Finance Corporation oversaw the most powerful expansion of industry ever conducted by the United States.

Please watch this dynamic exchange and share it with your friends.

Speakers:
Ellen Brown - Founder and Chair, Public Banking Institute; author “Web of Debt”; media commentator including Scheerpost.com, Los Angeles, Ca.
Dr. Nomi Prins, Phd - Author: “Permanent Distortion: How the Financial Markets Abandoned the Real Economy Forever”, “All the Presidents’ Bankers”; former Managing Director, Goldman Sachs; Commentator: CNBC, Fox Business, CNN, MSNBC, New York Times, Ojai, Ca.
Robert Hockett - Edward Cornell Professor of Law and Finance, Cornell University; Public Banking Institute Board of Directors; adviser to federal and state legislators; former staff Federal Reserve Bank of New York, International Monetary Fund, Ithaca, NY

Alphecca Muttardy - professional economist; former Senior Economist, International Monetary Fund, Fairfax, Va
Assemblyman Felix Ortiz - former Assistant Speaker, New York Assembly; Co-Founder and former Chairman, National Hispanic Caucus of State Legislators, Albany, NY
Moderator - Robert Lynn , Secretary, Toledo Jobs with Justice; UA Local 50 Organizer (retired), Toledo, Oh

Crucial Congressional Support Grows For National Infrastructure Bank Bill

websitebuilder@1and1.de — Fri, 03 Jun 2022 20:08:50 GMT

There is growing support for the HR3339, the National Infrastructure Bank Act. A concerted effort of activists around the country has led to twelve sponsors signing onto the bill. This is a start. The Coalition for a National Infrastructure Bank (NIB) has launched a massive escalation of this campaign. The Coalition is spearheading a seven week drive to secure twenty co-sponsors. Growing support will put the NIB on the radar screen of all policy makers in the nation. This goal must be reached, and surpassed, as soon as possible. We need your help!

This organizing campaign is occurring against a backdrop of deepening economic crisis. Unless there is a dramatic change, the country is locked into the untenable path of runaway inflation and onrushing recession. This is the result of decades of downsizing and outsourcing of our production while simultaneously pumping up an “everything” financial bubble. Right now all the “choices” are bad.

The only sane solution is to rapidly build up the productive base of the economy. The $5 trillion National Infrastructure Bank accomplishes just that and more. HR3339 is the vehicle to repair all of our infrastructure and generate an industrial revival at the same time. We must not miss this historic opportunity.

It’s all hands on deck! It is time to revive the spirit and lessons of Presidents Abraham Lincoln and Franklin D. Roosevelt. Let’s make government work for the people. Call your member of Congress today and urge them to co-sponsor HR3339.

New Mexico LULAC Passes Resolution for National Infrastructure Bank as Critical to Reconstruction After Wildfires

websitebuilder@1and1.de — Wed, 25 May 2022 23:35:01 GMT

On May 21, 2022. LULAC New Mexico adopted a resolution urging Congress to pass the National Infrastructure Bank Act, HR 3339, and create a $5 trillion bank to address the crisis in urban and rural infrastructure. Of paramount importance to the delegates, assembled at the Albuquerque Hispano Chamber of Commerce, is the urgent need to launch a vigorous effort to rebuild and improve the infrastructure impacted by the wave of deadly wildfires.

Several of the large wildfires merged earlier in May and have burned 465 square miles of land, breaking the record for biggest wildfire in the state’s history. These fires have left in their wake a biblical scene of devastation and destruction which will require massive reconstruction.

When passed by Congress, The National Infrastructure Bank could aid in the short and long term, to build projects to impact the region. The Bank could immediately go into the impoverished and well-to-do counties hit by the fires and provide long term credit and grants to create a prosperous, growing region. The NIB would create a Phoenix rising out of the ashes, which in this case is no mere metaphor.

The National Latino Farmers and Ranchers Trade Association (NLFRTA) has also joined the effort to aid and rebuild the devastated areas of New Mexico. Already an endorser of the bill to create the National Infrastructure Bank, HR 3339, The NLFRTA has been on the front lines in New Mexico helping farmers and citizens who have been affected by the brutal impact of the historic fires.

NIB Coalition Releases New Video, American Prometheus: The National Infrastructure Bank Will Spark a Resurgence of U.S. Manufacturing

websitebuilder@1and1.de — Wed, 18 May 2022 19:58:07 GMT

In a follow up video, to the of the NIB Zoom Town Hall on April 28, “Made in the USA,” the NIB Coalition has released a new short video ,

entitled, American Prometheus: The National Infrastructure Bank Will Spark a Resurgence of U.S. Manufacturing. The new video delves more deeply into the “nuts and bolts” of how this manufacturing will actually occur. Areas of exploration include rail, water, electricity, housing and more. Find out more on how we can create a new American renaissance to build and surpass everything we have lost over the last fifty years.

Speakers:

Alphecca Muttardy, 25-year Senior Economist, International Monetary Fund

Stanley Forczek, Infrastructure Consultant; 30-year Executive, Amtrak Corporation

James "Lou" Spencer, Vice-President, Virginia State Building and Construction Trades

SMART Community Council USA with National Infrastructure Bank Coalition is reaching out to Chambers of Commerce throughout the United States

websitebuilder@1and1.de — Fri, 13 May 2022 20:01:39 GMT

By Minna LeVine, CEO/President Board Member, May 4, 2022

SMART Community Council (SCC) USA , with the National Infrastructure Bank (NIB), Coalition is reaching out to Chambers of Commerce throughout the nation to enlighten everyone, on the grassroots effort to get legislation approved for the creation of a new, fifth National Infrastructure Bank. The National Infrastructure Bank Act – HR 3339 is the legislative bill.

Chambers of Commerce are invited to join, at no cost, as Community Partners. Your participation, will provide your Chamber opportunities to host in-person meetings, bring together key decision-makers and influencers, raise your brand and profile, and build awareness in your community. The community impact includes enhanced resilience, economic growth, new jobs, and quality of life. If you wish to discuss your Chamber participation as a local Community Partner, please contact: ttorrano@marketvision.org

Coalition for a National Infrastructure Bank Launches Ad Campaign in Capitol Hill’s Roll Call

websitebuilder@1and1.de — Wed, 11 May 2022 14:25:34 GMT

On May 10 the Coalition for a National Infrastructure Bank brought its nationwide advertising campaign to one of Capitol Hill’s premiere news sources, Roll Call. The digital ads will impact the tens of thousands of Roll Call subscribers and readers across the country and “inside the Beltway”. This new effort will bring the idea of a National Infrastructure Bank, as enunciated in HR3339, right to the doorstep of Congress.

Roll Call’s website states, “As the premier source of timely news, objective facts and analysis, and coverage of elections and the politics of legislation, we keep our fingers on the pulse of the legislative process and give our clients the tools they need to maximize their influence. We are the ultimate insider, and our unmatched network of relationships and expertise has powered the productivity of those who rely on us since 1945.”

Over the past several months, the Coalition has been bringing news of the National Infrastructure Bank and HR3339 to the American public in media across the nation, including: Wilmington News Journal, Albuquerque Journal, Tacoma News Tribune, Pittsburgh Post-Gazette, Buffalo News, Scranton Times-Tribune, Florida News Service, Toledo Blade, Santa Fe New Mexican, Dover Post, and many more.

To see the landing page for the ad, click the button below.

“Made in the USA: The National Infrastructure Bank Will Fire Up American Manufacturing” - Zoom Town Hall, April 28,2022

websitebuilder@1and1.de — Sun, 01 May 2022 19:10:21 GMT

In an April 28 NIB Zoom Town Hall, infrastructure experts lay the framework for a new economic direction entitled “Made in the USA: The National Infrastructure Bank Will Fire Up American Manufacturing.”

As the Covid-19 pandemic, the breakdown of the domestic supply chain, and the rapid rise of inflation have converged to create a “perfect storm” of economic dislocation, it has created a unique opportunity to reverse decades of neglect of critical infrastructure, by rebuilding manufacturing and the American workforce.

The time is now to implement the $5 Trillion National Infrastructure Bank which is exemplified in HR3339 in Congress. This legislation will compel a new resurgence of American industry to build the projects. Not only will the legislation mandate Buy America policies, but it will stimulate the creation of new industries to supply the materials for the projects. Made in America will be turned from a slogan into a reality.

Speakers included:

Alphecca Muttardy, Macroeconomist, former Senior Economist, International Monetary Fund, Fairfax, VA

Dr. Alexander Metcalf, Ph.D., President Transportation Economics and Management Company, an international expert in rail, ports, and supply chains, Frederick, MD

Senator William Tallman, Albuquerque, NM

Steve Ribuffo, Port Director, Port of Alaska in Anchorage, AMPE, Anchorage, AK

Steven Fenberg, Emmy award-winning author and producer of “Unprecedented Power: Jesse Jones, Capitalism and the Common Good”; “Brother, can you Spare a Billion?”, Houston, TX

Rep. Eddie Day Pashinski, Pennsylvania House, Wilkes-Barre, PA

Asm. Robert Karabinchak, Chairman, Special Committee on Infrastructure and Natural Resources, Middlesex, NJ

Julie Olsen, MBA, small business owner and Chair, Progressive Caucus, Alaska Democratic Party, Anchorage, AK

Moderator: Linda Tosti-Lane, Legislative Co-Chair, Washington State National Organization for Women, Brier, WA

Click below to watch.

Borough of State College, PA Endorses NIB

websitebuilder@1and1.de — Tue, 19 Apr 2022 17:40:24 GMT

Borough of State College- In early April, the Borough Council passed a resolution endorsing H.R.3339 and the National Infrastructure Bank.

The resolutions states in part: "Whereas Pennsylvania has the highest percentage of structurally deficient bridges in the United States. Of the Commonwealth's more that 22,000 bridges, nearly one in four are considered structurally deficient..."

NEW NIB VIDEO: "Affordable Housing Crisis: National Infrastructure Bank’s Role"

websitebuilder@1and1.de — Tue, 05 Apr 2022 18:41:41 GMT

In a March 31, 2022 Zoom Town Hall, sponsored by the NIB Coalition, Washington State Senator Robert Hasegawa, Economist Alphecca Muttardy, and Ohio Representative Catherine Ingram were joined by almost twenty current and former elected officials in a forum that addressed one of the most crucial concerns of our time, affordable housing.

With over 570,000 Americans becoming homeless every day, impacted by the fact that there is no other legislation in Congress with the money to address it, is of grave concern.

The National Infrastructure Bank, as outlined in Congressional Bill H.R. 3339, would deploy at least $700 billion to help remedy the problem.

This would entail a comprehensive approach, which would include jobs, utilities, transportation, broadband and more. Without a $5 trillion National Infrastructure Bank that would build everything, any attempt to adequately address this current crisis will fall short. In this 90-minute video you will hear from those national leaders who are fighting for this unique approach, just as FDR did.

New Mexicans Build Support for NIB

websitebuilder@1and1.de — Thu, 24 Mar 2022 14:56:22 GMT

March 2022- Indivisible Albuquerque and the Democratic Party of New Mexico both adopted strong resolutions in support of creating the National Infrastructure Bank and passing H.R.3339.

In its statement, Indivisible Albuquerque said:

"We believe a National Infrastructure Bank will facilitate infrastructure improvements throughout the United States with an emphasis on roads, bridges, broadband access, renewable energy, water security, and other valuable projects. Such a bank will require no new taxes, be freed from Congressional gridlock and fund loans to governments and municipalities for designated infrastructure projects. A National Infrastructure Bank is such a benefit to the economy it can also help keep inflation in check."

The resolutions have been forwarded to the Congress and other elected officials, as the pressure mounts for Congress to act. Both resolutions are available on the NIB Coalition's Endorsements page.

H.R.3339 Ad Reaches Out to State Legislators

websitebuilder@1and1.de — Tue, 15 Mar 2022 00:13:55 GMT

From March 14 to March 21, the Coalition for a National Infrastructure Bank is running ads (see above) in support of the “National Infrastructure Bank Act”, H.R.3339. The ad appears on the National Conference of State Legislatures (NCSL) website. It is prominently placed just above an announcement for the infrastructure bill that recently passed the U.S. Congress, the Infrastructure Investment and Jobs Act (IIJA). H.R.3339 creates a $5 trillion National Infrastructure Bank. It would complement the IIJA, but be at 90% larger! It would build everything! The NCSL website reaches hundreds of thousands of elected officials across the country each week, so this is an excellent opportunity to inform our state lawmakers about the National Infrastructure Bank Act. Please contact your state officials and members of Congress: Support H.R.3339! ( See full ad )

Celebrate Washington's and Lincoln's Birthdays- Expand the Fight for National Banking

websitebuilder@1and1.de — Sun, 20 Feb 2022 22:24:33 GMT

Celebrate George Washington and Abraham Lincoln’s birthdays by expanding the fight for National Banking. Post this video everywhere on social media in order to educate our fellow citizens on why this policy is urgent today. CELEBRATE BY CALLING YOUR MEMBER OF CONGRESS TO CO-SPONSOR HR3339, 202-224-3121.

NIB Coalition Zoom Event, February 17, 8PM- “Presidents Day 2022: Washington, Lincoln, and National Banking”

websitebuilder@1and1.de — Sun, 13 Feb 2022 22:49:14 GMT

Please join Public Banking Institute Founder Ellen Brown and former IMF Senior Economist Alphecca Muttardy for a Presidents’ Day Zoom Event of the Coalition for a National Infrastructure Bank. Coming amidst the escalating disintegration of U.S. bridges, water systems, and power grid, this event will highlight the historic role of national banking which built our infrastructure and industry over the past two and a half centuries.

Under President George Washington, Treasury Secretary Alexander Hamilton created the Bank of the United States, which spawned the original “internal improvements” and manufacturing of the young nation. The same policy was replicated by the Second Bank of the United States. After the treacherous President Andrew Jackson shut down the Second Bank, setting off rampant financial speculation, crises, and industrial collapse (sound familiar?). National Banking was revived under Lincoln and propelled the United States into the forefront of infrastructure and industrial development world-wide. Telegraphs, Transcontinental Railroads, and modern bridge building all flourished.

This policy was revived under President Franklin Roosevelt in the New Deal and WWII mobilization, and then junked over the past seventy years. The results are everywhere: The bridge collapse in Pittsburgh sent shockwaves into every government body in the country. On February 12, Lincoln’s birthday, the Roosevelt Bridge carrying U.S. Interstate 66 into Washington DC, was abruptly shut down by inspectors fearing a repeat of the Pittsburgh fiasco. In Philadelphia, an ancient water main burst, flooding a section of the city with waste water. The list goes on.

Against this frightening backdrop, the campaign to pass legislation in Congress creating a $5 trillion National Infrastructure Bank has been making great strides. Resolutions of support for the congressional legislation have been introduced into twenty-four state legislatures and dozens of city and county councils. Most recently the Delaware Senate and St. Louis County Council passed endorsements.

Please join the February 17 event. Learn how you can help save our once-great nation come alive again.

Click here to register.

Speakers:

Alphecca Muttardy, professional macroeconomist, former Senior Economist, International Monetary Fund

Ellen Brown , Founder and Chairman Public Banking Institute

Rep. Michael Person , Missouri House of Representatives, St. Louis

Jack Hanna , former Treasurer and Interim Chairman, Pennsylvania Democratic Party

Erika Strassburger , Pittsburgh City Councilwoman

Dennis Montoya , Immediate Past State Director, New Mexico LULAC

Linda Tosti-Lane , Co-Legislative Coordinator for Seattle NOW

Moderator: Robert Lynn , Organizer and Political Director, United Association of Plumbers and Steamfitters Local 50, Toledo Oh (retired)

NIB Coalition Call for Biden Support for $5 Trillion Bank in Pittsburgh Post-Gazette

websitebuilder@1and1.de — Mon, 07 Feb 2022 20:29:30 GMT

Following the collapse of the Fern Hollow Bridge on January 28, 2022, the NIB Coalition immediately went into action and placed ads in the Pittsburgh Post-Gazette. Digital ads are appearing from Feb 4-8, along with a Sunday, Feb 6, ad in the print edition. Both ads address President Biden: The $5 Trillion National Infrastructure Bank Will Fix All Our Bridges and All Our Infrastructure. The $5 Trillion Bank is embodied in H.R. 3339, “The National Infrastructure Bank Act of 2021." Call your member of Congress today to co-sponsor H.R.3339, 202-224-3121. For updates, check our new NIB Action Page, https://www.nibcoalition.com/national-infrastructure-bank-action-page , and spread the word.

NIB Coalition Runs Pittsburgh Post-Gazette Ad: How Many Bridges Will Collapse Before Congress Wakes Up?

websitebuilder@1and1.de — Sat, 05 Feb 2022 17:49:47 GMT

Starting on Friday, February 4, the NIB Coalition ran a front page ad in the digital version of the Pittsburgh Post-Gazette, pointing to the National Infrastructure Bank and H.R.3339 as the solution to the funding crisis, resulting in more and more infrastructure breakdowns in the US. The ad will run for five days along with a similar ad in the print edition on Sunday, February 6.

The ad states in part: "The recent collapse of Pittsburgh’s Fern Hollow Bridge is yet another reminder of the decrepit state of our nation’s infrastructure, as if we needed another warning. The silver lining is that nobody died, but they certainly could have. The good news is that help is on the way."

Included in the ad are four supporting videos, three of which are from Pennsylvania state elected officials, plus an overview video by Alphecca Muttardy, chief economist for the NIB Coalition. These videos are from Erika Strassburger, Pittsburgh City Councilwoman ,

Pa. State Rep. Eddie Day Pashinski , and Pa. State Rep. Mary Jo Daley.

Follow all of the latest activities of the NIB Coalition on our constantly updated National Infrastructure Bank Action Page.

Message to Congress by Day of Action: Time to Pass H.R.3339

websitebuilder@1and1.de — Sat, 29 Jan 2022 18:03:33 GMT

On January 27, the Coalition for a National Infrastructure Bank(NIB) conducted a ground breaking Day of Action. Social media sites buzzed with activity, meetings with Congress galvanized action, and activists mobilized calls into Congress. New participants joined the Teach-In. It was live-streamed for the first time on the NIB Facebook site, while being recorded, and will be posted on the Pennsylvania NIB Facebook page.

Timing is everything. One day after the Day of Action the Pittsburgh bridge collapsed. Luckily nobody was killed, but they sure could have been. Eighteen months ago the NIB Coalition got resolutions of support from the Pittsburgh City Council, Allegheny County Council and organizations across Pennsylvania demanding Congress pass HR 3339 and create the $5 trillion National Infrastructure Bank. Yet Congress failed to heed our calls!

Here are our accomplishments in the past two weeks in getting support for the NIB:

Resolutions of support were introduced into the New Mexico Senate and New Mexico House; the Arizona Senate and House; the Missouri House, the New Jersey Assembly and the Delaware Senate. On January 27, the Delaware Senate passed the resolution! They sent it directly to Congress and to President Biden for action. The resolution in the Washington Senate passed Committee and is headed up the ladder. The New Mexico resolution was endorsed by the New Mexico AFL-CIO which is actively promoting it in the State Capitol in Santa Fe.

In New Jersey, a lead sponsor of the Assembly resolution, Assemblyman Robert Karabinchak penned an op-ed for the media. It was covered in seven USA Today newspaper affiliates and picked up by Yahoo News. It received near blanket media exposure in New Jersey.

Follow-up events are already happening. The Coalition will be buying a media package this week in Pittsburgh to spotlight the NIB in light of the bridge collapse, and more activity will be happening in Congress demanding they act on HR 3339. Stay tuned, and visit nibcoalition.com for marching orders. Follow us on twitter and Facebook and let’s continue the social media blitz!

State Elected Officials and Regional Leaders Take Frontline for NIB Day of Action

websitebuilder@1and1.de — Tue, 25 Jan 2022 19:32:01 GMT

January 25- State elected officials and regional leaders, including in Pennsylvania, New Jersey, Washington, Missouri, and New Mexico have taken decisive action to promote the National Infrastructure Bank and H.R.3339 leading up to the Day of Action on January 27th.

Pictured above is the State Capitol of New Jersey in Trenton, where State Assemblyman Robert Karabinchak, a leader of the New Jersey Assembly, has an Op-Ed on the NIB published in numerous newspapers throughout the state. Various state Memorial Resolutions have been introduced in early 2022, including in Washington, New Mexico, Missouri, and Florida. The Salish Sea Chapter of the Washington State Federation of Democratic Women also adopted a resolution on January 24, 2022. All of these resolutions are on our Endorsements page.

Meanwhile, Pennsylvania State Rep. Eddie Day Pashinski's video invitation to join the January Teach-In has been widely circulating, including on a new Facebook page for the Pennsylvania Coalition for the National Infrastructure Bank. More to come....

Day of Action Update: NIB Op-Ed in Yahoo News

websitebuilder@1and1.de — Fri, 21 Jan 2022 16:50:57 GMT

Asm. Robert Karabinchak

January 21, 2022- New Jersey State Assembyman Robert Karabinchak submitted an Op-Ed in support of the National Infrastructure Bank and HR3339, which appeared today in The Bergen Record, NewJersey.com , and Yahoo News . NewJersey.com is part of the USA Today network.

The opinion piece, entitled "A national infrastructure bank could address New Jersey’s infrastructure needs" helps to kick off the build up to the January 27th NIB Coalition Day of Action.

Asm. Karabinchak heads the Special Committee on Infrastructure and Natural Resources, and is Deputy Majority Whip in New Jersey's General Assembly.

The NIB Coalition has asked that all supporters of the NIB also submit Op-eds to their local newspaper. A sample Op-Ed can be accessed from the button below.

Teach-In Jan. 27th: Instruct Your Member of Congress about the NIB

websitebuilder@1and1.de — Thu, 20 Jan 2022 00:22:00 GMT

As part of the National Day of Action for the National Infrastructure Bank, the NIB Coalition invites you to register for an exciting Zoom Webinar on Thursday, January 27, 2022 at 2PM ET.

The theme of this event is "Learn how the NIB works, so that you can teach your member of Congress."

The topics covered in the special forum will include: 1) Back to the Basics abou the NIB 2) FDR's Reconstruction Finance Corporation 3) Impact on Regional Economic Development 4) Focus on the Disadvantaged and Minorities.

Speakers will include:

Alphecca Muttardy, Economist, former Senior Economist International Monetary Fund

Steven Fenberg, Award-winning author “Unprecedented Power: Jesse Jones, Capitalism, and the Common Good”; and Emmy-winning producer of the PBS documentary “Brother, Can You Spare a Billion

Rep. Eddie Day Pashinski, Wilkes-Barre, Pa

Mary Jane Shimsky, Majority Leader, Westchester County Board of Legislators, Dobbs Ferry

Rep. Alan Green, MBA, former member Missouri House of Representatives

Asm. Felix Ortiz, former Assistant Speaker New York State Assembly

Scott Koons, Executive Director, North Central Florida Regional Planning Commission, former President, National Development Organizations

Moderator: Carolyn Barclift, Founder, Build Back Better USA, Olympia, Wa

Contact the Coalition 866-739-1791

National Infrastructure Bank Day of ACTION Thursday, January 27, 2022

websitebuilder@1and1.de — Mon, 17 Jan 2022 21:34:26 GMT

Mobilize your allies, friends and neighbors on January 27, all day, to spread the word about the National Infrastructure Bank campaign. This is a positive, urgent, solution to what ails our nation. Since the successful passage of the Bipartisan Infrastructure Law in early November, the government has been unable to take further action. The Coalition for a National Infrastructure Bank (NIB) has the answer, and is rushing to fill the vacuum. We are campaigning for the passage of H.R.3339, to create a $5 trillion infrastructure bank to build our nation.

The Coalition supported the Bi-Partisan Infrastructure Law, but it will only cover 10% of what the nation needs. There is no money in that bill for affordable housing: the NIB will build affordable housing for everyone. The Infrastructure Law has no money for high speed rail; the NIB will build a 15,000-mile system. The Infrastructure Law has no money for water projects to address drought in the West; the NIB has sufficient money to tackle this problem. The Infrastructure Law will replace 20% of the lead service lines; the NIB will fix all the lines starting in year one. The Infrastructure Law is short on everything else, i.e. roads, broadband, bridges, rail, clean water, etc.

The legislation for the National Infrastructure Bank is H.R.3339 in the U.S. House of Representatives. We need every member of Congress, red state, blue state, and all other colors, to sign on to this bill. Call your member of Congress today and ask them to co-sponsor H.R.3339.

Help us educate the country on the workings of the Infrastructure Bank and this landmark legislation. Reach out to everyone you know, as if your life depends on it; it does! Do your part:

Call your member of Congress: 202-224-3121; ask them to co-sponsor H.R.3339
Call your state and local officials; urge them to support the resolutions in your legislature which back H.R.3339. You can see a list of resolutions in the provided leaflet
Help get a resolution introduced. If there is no resolution in your state, urge them to introduce one. Staff officials of the Coalition are ready to lend a hand with all elected and other officials. “We have your back.”
Set up zoom meetings with friends and political allies (and enemies!!); the Coalition can provide speakers. The contact information for the Coalition is below.
Help Start a Social Media Storm: Everyone has Facebook, Twitter, LinkedIn, Instagram, etc. Use your social media to spread the word on the National Infrastructure Bank. If you do your part, we can reach 100,000 people by January 27 on social media alone!
Submit Op-Eds for Newspapers; a sample for submission can be provided
Set Up Radio and TV interviews---Coalition spokespersons are available to inform the public
Make a Contribution: the Coalition for a National Infrastructure Bank has a goal to raise $2500 for our January 27 Day of Action to fund the effort. Your financial contribution will go to digital advertising and other media

Special National Infrastructure Bank Teach-In:

January 27, 2pm EST, 11 am PST

Learn how the National Infrastructure Bank works so you can teach your member of Congress!

Speakers will include:

Alphecca Muttardy , Economist, former Senior Economist International Monetary Fund

Steven Fenberg , Award-winning author “Unprecedented Power: Jesse Jones, Capitalism, and the Common Good”; and Emmy-winning producer of the PBS documentary “Brother, Can You Spare a Billion

Mary Jane Shimsky , Majority Leader, Westchester County Board of Legislators, Dobbs Ferry

Rep. Alan Green, MBA, former member Missouri House of Representatives

Asm. Felix Ortiz , former Assistant Speaker New York State Assembly

Scott Koons , Executive Director, North Central Florida Regional Planning Commission, former President, National Development Organizations

Moderator: Carolyn, Barclift , Founder, Build Back Better USA, Olympia, Wa

Contact the Coalition for a National Infrastructure Bank

866-739-1791

info@nibcoalition.com

www.nibcoalition.com

National Association of Development Organizations Endorses NIB

websitebuilder@1and1.de — Mon, 17 Jan 2022 00:15:40 GMT

January 16, 2022- The National Association of Development Organizations (NADO) has issued an endorsement of the $5 trillion National Infrastructure Bank.

NADO describes itself in the following way (from their website): The National Association of Development Organizations (NADO) provides advocacy, education, research, and training for the nation’s regional development organizations. The association and its members promote regional strategies, partnerships, and solutions to strengthen the economic competitiveness and quality of life across America’s local communities.

Elected Officials' Call for Action on the National Infrastructure Bank Hits Media in 2022

websitebuilder@1and1.de — Thu, 06 Jan 2022 23:13:41 GMT

Pictured above: Senator Lou DiPalma (R.I) Senator Lisa Boscola (Pa) Rep. Eddie Day Pashinski (Pa) Rep. Kyle Mullins(Pa)

The 2022 push to create a National Infrastructure Bank and enact HR3339 started with a bang.

Articles featuring quotes from prominent state elected officials, highlighting the positive aspects of the NIB to address the massive deficit in infrastructure spending, appeared in several publications, even after the enactment of President Biden's infrastructure bill.

Here are some of the quotes:

"Everybody agrees we have to fix our crumbling infrastructure; the problem is nobody knows how to pay for it. The national infrastructure bank will supercharge our industry and small businesses,” said DiPalma.

- R.I. State Senator Lou DiPalma , Vice-Chair of Transportation Policy Committee of the CSG East, in Perspectives

Magazine, "Solving the infrastructure investment challenge", Council of State Governments East, 2021-22 Edition

That article can be found here.

“This would be an augmentation and would not require any federal dollars,” Mullins said. “This is essentially putting our nation’s debt to work.”

- Pa. State Rep. Kyle Mullins

“There was a little hesitation because everybody was working on the Biden plan. We understand that. This is different from the Biden plan,” Pashinski said. “This is the private dollars, there are no tax dollars or whatsoever ... You’re looking at 25 million high-quality jobs.”

- Pa. State Rep. Eddie Day Pashinski; Both PA. State Reps' quotes are in Scranton's The Times-Tribune frontpage article on Jan. 1,2022 entitled "Legislators Favor New Federal Bank Solely for Road, Bridge, and Other Infrastructure Upgrades". That article can be found here .

"Boscola agreed, describing the U.S. record of infrastructure investment as 'abysmal.' She has also sponsored a state Senate resolution calling on Congress to create a National Infrastructure Bank. 'We need to stop putting little band-aids on our infrastructure needs and calling it a success,' she said. 'The fact remains we need large, wholesale investment in our infrastructure and only the federal government is capable of harnessing that kind of investment.'"

- Pa. State Senator Lisa Boscola in The Morning Call, Lehigh Valley, Pa, January 3, 2022 article. That article can be found here .

New Year's Day Times Tribune: "Legislators Favor New Federal Bank for Infrastructure"

websitebuilder@1and1.de — Mon, 03 Jan 2022 00:41:41 GMT

This is a subtitle for your new post

On the front page in the first issue of the New Year, Scranton's Times-Tribune highlighted "the bigger bang". That was the reference to the Pennsylvania state legislators who support the $5 trillion, 25 million jobs creating National Infrastructure Bank. Various prominent elected officials were highlighted in the article, which you can read below.

Pennsylvania State Reps Kyle Mullins (left) and Eddie Day Pashinski

The article, entitled in the online version "Legislators favor new federal bank solely for road, bridge and other infrastructure upgrades",

was written by Borys Krawczeniuk, and the text is as follows:

Congress just passed President Joe Biden’s $1.2 trillion bill aimed at upgrading the nation’s road, bridge, airport, railroad and internet systems.

Local state and federal legislators don’t think that’s enough and advocate a bigger bang.

State Rep. Kyle Mullins, D-112, Blakely, and Rep. Eddie Day Pashinski, D-121, Wilkes-Barre, and U.S. Rep. Matt

Cartwright, D-8, Moosic, and Rep. Dan Meuser, R-9, Dallas, want Congress to create a National Infrastructure Bank.

Mullins and Pashinski want the bank to acquire up to $5 trillion in bonds over a 10-year period to supercharge the

nation’s rebuild.

“This would be an augmentation and would not require any federal dollars,” Mullins said. “This is essentially putting

our nation’s debt to work.”

Under the plan, the bank would be funded by existing U.S. Department of Treasury bonds bought from the private

sector in exchange for preferred stock in the bank. The stock would come with a guarantee annual dividends of 2%

more than the bond rates. The bank would have a federal charter and would loan money to local and state

governments and utilities for infrastructure projects, which would repay the loans over time.

The Coalition for a National Infrastructure Bank argues the $5 trillion would cover all of the $2.6 trillion funding gap

that the American Society of Civil Engineers has identified between the nation’s immediate infrastructure needs

and available funding.

“There was a little hesitation because everybody was working on the Biden plan. We understand that. This is

different than the Biden plan,” Pashinski said. “This is the private dollars, there’s no tax dollars or whatsoever ...

You’re looking at 25 million high quality jobs.”

The idea has kicked around for at least 15 years. Year after year, one congressman or another has introduced a bill

only to see it go nowhere.

Former Pennsylvania Gov. Ed Rendell heavily promoted the idea when he co-founded the Building America’s

Future Educational Fund with former California Gov. Arnold Schwarzenegger and former New York City Mayor

Michael Bloomberg. A smaller version made it into President Barack Obama’s stimulus package after the Great

Recession of 2008, but the authorization for that program expired, Rendell said.

Rendell advocated allowing states to toll highways and creating the infrastructure bank in the infrastructure bill

that passed. Neither happened. The idea has worked well in Europe, he said.

“I think the reason they didn’t want to do it is when you do something like that the smaller states and the western

states are immediately (suspicious) that this is just a way to give the eastern states and the bigger states large

chunks of money,” Rendell said. “It’s not true. You could do a set-aside. You do a 20% set-aside that must go to

states with population less than a (certain amount).”

Meuser introduced a different bill to start the Infrastructure Bank for America. Meuser’s bill would set aside at least

7% of the loans for rural areas.

“It exists in China, which actually attracts American institutional investment. It’s a good idea as long as it’s privately

run and funded with all appropriate oversight,” he said.

Cartwright also likes the idea, noting “”I’ve been a co-sponsor (of yet another bill) since July 2013.”

So far, the idea may have gone nowhere because some on Wall Street oppose it, including trade groups Municipal

Bonds for America, the Bond Dealers of America and the American Securities Association.

“By nationalizing federal investment in local infrastructure via an infrastructure bank, the provision would minimize

a centuries-long partnership among federal, state and local governments in infrastructure investment,” said the

Bond Dealers and Municipal Bonds group said in a joint statement, according to the publication, The Bond Buyer.

Resolutions 2022: Ask not what your Congress can do for you, but what Congress can do to create the NIB

websitebuilder@1and1.de — Wed, 29 Dec 2021 15:54:47 GMT

The Most Important New Years’ Resolution: Time for Congress to Implement the National Infrastructure Bank Act, HR 3339

2022 is on the horizon , and the need for congressional consideration of HR 3339, The National Infrastructure Bank Act of 2021, could not be greater. Adoption of the Bipartisan Infrastructure Law authorized $550 billion in new money for infrastructure programs. As you will read below, that is good but woefully inadequate. And for now, the Build Back Better Act is stalled in the Senate. So the time is ripe for Congress to take up HR 3339, the National Infrastructure Bank Act. The drumbeat for that policy is growing louder by the day.

On November 15, President Biden signed into law the $1 trillion Bipartisan Infrastructure Investment and Jobs Act (IIJA), now called the Bipartisan Infrastructure Law. It provides $550 billion in new money over five years for transportation projects ($284 billion), water infrastructure, energy & power, broadband, and resiliency. While economists, historians, and legislators applaud the bill's passage, most are stressing that it will not be nearly enough to overcome the failure for decades to maintain and upgrade America's infrastructure. Some members of Congress telegraphed the benefits of the IIJA in their home states but, in each case, those benefits are only about 1/10th of what states actually need to fully address infrastructure needs. Meanwhile, vulnerabilities in our nation's Infrastructure continued to be on full display.....

See the complete statement here .

View the suggested model support resolutions for HR3339 and the NIB on the home page.

National Black Caucus of State Legislators Urges Congress to Create National Infrastructure Bank

websitebuilder@1and1.de — Wed, 22 Dec 2021 20:16:08 GMT

Over 500 legislators from around the nation attended the annual conference of the National Black Caucus of State Legislators (NBCSL) in Atlanta, Georgia, on the weekend of December 3-6. Among the many activities of the event, the participants passed a series of policy resolutions. This included a resolution to Congress in support of a National Infrastructure Bank. This resolution cited HR 3339, the National Infrastructure Bank Act of 2021, as the preferred piece of legislation, and urged congressional action on that bill. NBCSL now joins a burgeoning group of local, state and national organizations who have endorsed the National Infrastructure Bank.

As the NBCSL mission statement says, “The National Black Caucus of State Legislators (NBCSL) is the nation's premier organization representing and serving the interests of African American State legislators. With more than 700 members representing more than 60 million Americans, NBCSL serves as a national network, advocate and catalyst for public policy innovation, information exchange, and joint action on critical issues affecting African Americans and other marginalized communities. Through research, education, and advocacy, NBCSL strengthens its members and helps ensure their strong, effective and influential voice on Capitol Hill.”

“NBCSL’s primary mission is to develop, conduct and promote educational, research and training programs designed to enhance the effectiveness of its members, as they consider legislation and issues of public policy which impact, either directly or indirectly upon ‘the general welfare’ of African American constituents within their respective jurisdictions.”

It was in that spirit that the conference unanimously adopted the resolution below.

Click here to view and download.

New Scranton Times Tribune Editorial: The NIB Means Fully Funded Infrastructure "Without the Political Drama"

websitebuilder@1and1.de — Wed, 22 Dec 2021 00:52:40 GMT

The following is the full text of an editorial which appeared in Scranton's Times Tribune and The Citizens' Voice on December 16, 2021.

Given national politicians’ reluctance to fund infrastructure projects outside their own districts, and the long, torturous road to passage of the $1.2 trillion infrastructure bill, the nation should embrace a systematic means to attend to the country’s infrastructure without the political drama.

A National Infrastructure Bank would pull off that feat. It would diminish the role of politics in funding crucial infrastructure projects, taking specific funding decisions out of Congress’ hands and funding projects from the bank’s own operations rather than from federal tax money.

Under the NIB proposal, the bank would be capitalized at $5 trillion over 10 years. Private investors who invest a total of $500 billion in treasury bonds in the bank each year to capitalize it would be rewarded with stock in the bank that pays 2% more than the treasury bond rate.

Local and state governments or related boards and authorities would borrow from the bank at favorable rates for projects including water systems, roads and bridges, rail, ports, airports and other elements of infrastructure. As those loans are repaid, the bank would have a revolving fund to finance new projects.

The nation has had infrastructure banks before, beginning during George Washington’s administration and most recently during Franklin Delano Roosevelt’s administration, when the bank funded infrastructure work to help fight the Great Depression.

Congress would have to create the bank. But advocates seek state legislative resolutions to help spur Congress to act. Democratic Reps. Eddie Day Pashinski of Luzerne County and Kyle Mullins of Lackawanna County have taken up the resolution effort.

The state Legislature should approve the resolution and Congress should create the bank to make infrastructure maintenance and development a systemic, rather than extraordinary, process.

Essex County, Virginia Adopts Resolution on the NIB

websitebuilder@1and1.de — Mon, 20 Dec 2021 18:54:03 GMT

December 19, 2021- The Board of Supervisors of Essex County, Virginia has adopted a resolution calling for the passage of HR3339 and creation of the National Infrastructure Bank. The statement says in part: "Whereas, The ASCE report card for Virginia concludes: 14% of roads are in poor condition and driving on roads in need of repair in Virginia costs each driver $517 per year. 4.4% of bridges are rated structurally deficient. Drinking water needs in Virginia are an estimated $8.1 billion, and wastewater needs are $6.5 billion. 356 dams are high-hazard potential. The state’s schools have an estimated capital expenditure gap of $973 million; and..."

Essex County is in Virginia's Northern Neck, just north of Yorktown and Williamsburg.

Washington State's First District Democrats Endorse NIB

websitebuilder@1and1.de — Thu, 09 Dec 2021 23:12:39 GMT

December 9, 2021- Momentum continues to grow in the Northwest United States for the creation of the National Infrastructure Bank. The latest to join in the growing list of endorsements is the 1st District Democrats of Washington.

Here is some of what is contained in their statement:

Whereas the proposed NIB could directly finance much of the needed remediation of our nation’s deteriorating infrastructure, in partnership with state and local officials, and could finance construction projects which hire people who have lost their jobs during the COVID-19 pandemic; and

Whereas the NIB would create an estimated 25 million new jobs paying Davis-Bacon wages, while ensuring suitable labor agreements and Buy American provisions for all projects, while awarding a significant number of contracts to disadvantaged business enterprises and mandating large-scale minority hiring, while growing the economy by up to 5% annually; and...

Compelling Reasons Raised by Florida Association of Counties in Recent NIB Endorsement

websitebuilder@1and1.de — Sat, 04 Dec 2021 19:57:49 GMT

December 4, 2021- The recent endorsement by the Florida Association of Counties for the creation of the National Infrastructure Bank as outlined in HR3339, contains important analyses and reasoning behind their Board's adoption of the resolution.

In the background section, the endorsement states in part: "Our counties are not provided adequate resources by the state to address the needs for maintenance of roads, of schools, or to address the growing issues with sea level rise and extreme weather events and effects on stormwater systems, wastewater treatment and water reclamation facilities. This problem is becoming dire in many counties, and they are not able to maintain the assets they have invested in."

In the analysis section appears the following: "This legislation would provide counties with infrastructure funding for public transportation, roads/bridges, broadband, water and wastewater facilities. The proposed bank would provide up to an estimated $5 trillion to cities, counties, regions, and states to address infrastructure needs to be paid back at an interest rate less than the rate of inflation. There would be the ability to bundle projects, and a portion of the money would also be put towards a grant program for the most challenged communities. Our county is between $600M and $700M behind on just road maintenance. We are able to budget, in a best-case scenario, $6M a year..."

The full endorsement statement is available here.

Four New Videos:From Franklin Roosevelt's New Deal to the 21st Century National Infrastructure Bank

websitebuilder@1and1.de — Wed, 01 Dec 2021 19:11:04 GMT

December 1, 2021- The NIB Coalition has posted four new videos, all excerpts from the recent zoom meeting entitled " "Yes, Virginia, and WV, There is a Franklin Roosevelt Policy Today".

Video No. 1 is entitled "FDR's Reconstruction Finance Corporation; A Model for Today." The presenter, Steven Fenberg, is author of “Unprecedented Power: Jesse Jones, Capitalism, and the Common Good” and the Emmy-award-winning producer of “Brother, Can you spare a Billion?”

Video No. 2 is entitled "Harry Hopkins' WPA - Infrastructure Driver and Millions of New Jobs". The presenter, Dr. June Hopkins , Ph.D. is Professor of History Emerita, Georgia Southern University and author of “Harry Hopkins, Sudden Hero, Brash Reformer”.

Video No. 3 is entitled "Wartime RFC Created New Industries from Scratch". The presenter, Dr. Stephen Hubbard , Ph.D., is an Infrastructure Bank expert, a Franklin Roosevelt administration economic authority, and former Senior GIS Analyst, Metropolitan Water Department from California.

Video No 4 is entitled "Infrastructure, Investment, and Jobs Act (IIJA) Covers 10% of Instructure Needs". The presenter, Alphecca Muttardy , is a Macroeconomist and also a former Senior Economist with the International Monetary Fund.

Nov 18 Zoom Mtg: "Yes, Virginia, and WV, There is a Franklin Roosevelt Policy Today"

websitebuilder@1and1.de — Mon, 22 Nov 2021 22:51:27 GMT

On November 18, 2021, elected officials and experts gathered to present the Franklin Roosevelt economic policy that can be implemented today

Speakers included:

Steven Fenberg , author “Unprecedented Power: Jesse Jones, Capitalism, and the Common Good” and Emmy-award-winning producer, “Brother, Can you spare a Billion?” Houston, Tx

Dr. June Hopkins , Ph.D., Professor of History Emerita, Georgia Southern University; Author “Harry Hopkins, Sudden Hero, Brash Reformer”, Wa

Dr. Stephen Hubbard , Ph.D., Infrastructure Bank expert, and Franklin Roosevelt administration economic authority, former Senior GIS Analyst, Metropolitan Water Department, Northridge, Ca

Alphecca Muttardy , macroeconomist, Former Senior Economist, International Monetary Fund, Fairfax, Va

Mary Jane Shimsky , Ph.D. (History), JD, Majority Leader, Westchester County Board of Legislators, former history lecturer Marymount College, Dobbs Ferry, NY

Dennis Montoya , past State Director, New Mexico League of United Latin American Citizens (LULAC), Rio Rancho, NM

Michael O’Brien , Albany Common Council, Albany, NY

Stan Forczek , Infrastructure expert, and former Amtrak Executive

Assemblyman Felix Ortiz , former Assistant Speaker New York State House

Jack Hanna , Oregon Democratic Party Committeeman

Senator Bill Tallman , Albuquerque, NM

Representative KC Ohaebosim , Wichita, Ks

Moderator: Randy Beightol , President Northern Tier Central Labor Council, AFL-CIO; President USW Local 4907, Montoursville, Pa

You can watch the video by clicking below.

https://youtu.be/u3aMeEb93yc

Media Campaign for $5 Trillion NIB Escalates

websitebuilder@1and1.de — Thu, 18 Nov 2021 19:12:32 GMT

November 18 2021-The Coalition for the National Infrastructure Bank continued the drum-beat for the enactment of HR3339 this week. The latest includes an Op-Ed in Ohio, and paid advertisements in Buffalo and Florida.

The Sentinel- Tribune of Bowling Green, Ohio published a letter to the Editor on November 17 entitled "Infrastructure Act only puts a dent in the need", endorsed by numerous elected officials and other prominent Ohio supporters of the NIB.

In Florida, the NIB Coalition is running an ad for two weeks in the Florida News Service , which is widely read by elected officials and policymakers in Florida. The Buffalo News (NY) advertisement features the support of various city and county elected bodies in New York, as well as support from New York area labor organizations. (Below)

Common Council of the City of Albany Passes NIB Resolution

websitebuilder@1and1.de — Wed, 10 Nov 2021 17:32:51 GMT

November 10, 2021- The Common Council of Albany, New York, which is the local government of New York's Capitol, has adopted a resolution in support of the NIB.

The resolution states in part:

"WHEREAS, the ASCE in New York State reports that 424 dams are considered to be high-hazard potential, 7,292 miles of highway and 1,702 bridges require repairs (9.9% of bridges are rated structurally deficient; The state’s schools have an estimated capital expenditure gap of $2.91 billion. To repair, replace, and update New York State’s wastewater infrastructure would cost $36.2 billion over 20 years; and

WHEREAS, 11% of trains and other transit vehicles in the state are past their useful life; 1.7 million renters pay more than 30% of their income in rent due to shortages in affordable housing units; New York needs $22.8 billion in modernization costs to ensure safe drinking water; 64% of families have few or no childcare options in their communities, preventing parents from joining the workforce; and

WHEREAS, broadband access is still woefully lacking in New York; 38% of all New York households earning $25,000 or less have no high-speed home internet connection; 20% of households in New York City metro areas, serving 750,000 students, do not have high-speed internet; 32% of households in Syracuse have no broadband connection; 20% in Rochester, 19% in Buffalo. The Capital region has relatively high internet connectivity but 27% of homes lack high-speed internet, and many counties in the Capital Region have little or no high-speed service (Albany Times Union 1/15/21); and..."

NIB Representatives Address National Latino Farmers and Ranchers Trade Association Conference in Albuquerque, New Mexico

websitebuilder@1and1.de — Mon, 01 Nov 2021 17:10:12 GMT

NIB REPRESENTATIVES ADDRESS NATIONAL LATINO FARMERS AND RANCHERS CONFERENCE, ALBUQUERQUE, NEW MEXICO

Press Release

October 30, 2021

The benefits of a National Infrastructure Bank (NIB) for rural America were presented at a Conference of the National Latino Farmers and Ranchers Trade Association (NLFRTA) held in Albuquerque, New Mexico. As the Keynote speaker on October 29, Alphecca Muttardy, a Macroeconomist with a national Coalition supporting the NIB, explained that HR 3339, a bill in the current session of Congress, would create a $5 trillion public bank to lend for infrastructure projects all across America. Without relying on any new Federal taxes, deficits, or debt, the NIB would provide adequate new financing to rebuild and expand: transportation, water, and power systems; high-speed rail; and affordable housing and broadband.

A major emphasis of the National Infrastructure Bank would be to support the economic development of rural America, including the farmers and ranchers who live and operate there. Improvements expected to be financed by the NIB would include:

· Water Infrastructure + Water Management: Safe drinking water (NO lead pipes), sewer, and stormwater systems. Mega Water projects to address Western drought through water redistribution, desalination, capturing rainwater in local aquifers, and irrigation and agricultural conservation. Water is critical in Western states to offset the current trend where farmers are cutting back on acreage, and selling herds on account of water shortages.

· Connecting Rural America: Improved local roads and bridges, and inland waterways, to move agriculture goods to market. Affordable broadband everywhere, to improve farm technologies, and provide tele-education & health. High-Speed Rail to stimulate local growth and improve local municipality revenues. Electric Grid Resiliency and new, smart grid technology to move Renewable energy from farms to consumers.

· Equitable Community Development: Create millions of local, family-sustaining jobs. Promote community development, including in Rural Towns, and Traditional & Native American regions. Build schools and train workers in new industries. A NIB Trust Fund provides grants to very low-income areas.

· Top Up USDA Financing: including for community development, and regenerative farm practices to combat Climate Change.

After Mrs. Muttardy delivered her Keynote address, the Congreso then heard remarks from Congressman Danny Davis (D-Ill.), lead sponsor of HR 3339, who developed the key themes of the bill. He underscored the fact that only HR 3339, configured to invest $5 trillion into U.S. infrastructure, was big enough to tackle all the infrastructure problems which need to be solved.

Mrs. Murtardy then joined a lively panel discussion that elaborated the benefits of the National Infrastructure Bank for the American people. Also appearing on the panel were: Sen. Bill Tallman (District 6, Albuquerque, New Mexico Senate), Rep. Joy Garratt (District 29, Albuquerque, New Mexico House of Representatives), and Dennis Montoya, past New Mexico District Director of the League of United Latin American Citizens (LULAC), Rio Rancho. The panel was chaired by NLFRTA Government Affairs Director Joel Segal, a longtime Capitol Hill staff official best known for drafting the original Medicare for All legislation for Congress.

The National Infrastructure Bank formed the main theme of NLFRTA's “Congreso,” held on October 28-30, 2021. It was hailed by participants as the equivalent of a Marshall Plan for rural America. At its conclusion, the Board and membership of the National Latino Farmers and Ranchers Trade Association unanimously adopted a resolution in support of HR 3339, The National Infrastructure Bank Act of 2021. They have already joined the legion of local supporters who are urging their members of Congress to pass this critical piece of legislation.

Todedo Blade NIB Ad Highlights Ohio Support

websitebuilder@1and1.de — Thu, 28 Oct 2021 16:03:00 GMT

New York State Officials Join Rep Danny Davis in Town Hall on National Infrastructure Bank

websitebuilder@1and1.de — Mon, 25 Oct 2021 21:33:12 GMT

On October 19, a distinguished group of New York state officials and union leaders joined U.S. Congressman Danny Davis to conduct a spirited one-hour dialogue on the need for a National Infrastructure Bank. Over thirty leaders from around New York state heard opening remarks from Congressman Danny Davis of Illinois, the lead sponsor of the legislation, HR 3339.

Following Congressman Davis’ stirring remarks, over a dozen of the officials spoke passionately on the need for Congress to now consider the Davis legislation. The dialogue was conducted under the direction of Westchester County Board of Legislators Majority Leader Mary Jane Shimsky, who also weighed in with her own observations.

Watch the video here.

Participants:

Moderator: Mary Jane Shimsky, Majority Leader, Westchester County Board of Legislators, Dobbs Ferry

Congressman Danny Davis, (D-7 ^th ), Chicago, Illinois

Assemblyman Felix Ortiz, former Assistant Speaker, New York State Assembly, Albany

Thomas Carey, President, Westchester-Putnam Counties Central Labor Board, AFL CIO, White Plains

Merton Simpson, Albany County Legislator, District 2, Albany

Assemblyman Chris Burdick, New York State Assembly, District 93

Beroro Efekoro, Albany County Legislator, District 7, Albany

Sam Fein, Chair, Social Services Committee, Albany County Legislator, District 6, Albany

Joyce Love, Albany Common Councilwoman

Patricia Riley, Peekskill Common Council

Ruth Walter, Chair, Environment and Health Committee, Westchester County Board of Legislators, District 15, Bronxville

David Donaldson, Chairman, Ulster County Legislature, Kingston

Ydanis Rodriguez, New York City Councilman, Chair Committee on Transportation, District 10

Alphecca Muttardy, Macro Economist, 25 years of experience, International Monetary Fund, Fairfax, Va

Michael O'Brien, Albany Common Councilman

Carolyn McLaughlin, Chair, Social Services Elder Care Committee, Albany County Legislator District 1

Ulster County (NY) Legislature Endorses NIB

websitebuilder@1and1.de — Fri, 22 Oct 2021 16:50:02 GMT

October 22 2021- The Legislature of Ulster County, New York this week issued an endorsement for HR 3339 and the National Infrastructure Bank.

The statement says in part:

"WHEREAS, ASCE reports that in New York 424 dams are considered to be high-hazard potential, 7,292 miles of highway and 1,702 bridges in need of repair with 9.9% of bridges rated structurally deficient, with rates traditionally higher for local county and municipal bridges; and

WHEREAS, New York State alone has more structurally deficient bridges than the country’s average with more than 50% being 75 years old, and over 400 at 100 years old; and

WHEREAS, it is estimated that New York needs $22.8 billion in modernization costs to ensure safe drinking water, and an additional $36.2 billion over 20 years to repair, replace, and update the state’s wastewater infrastructure; and

WHEREAS, broadband access is still deficient in New York State, especially in rural counties like Ulster, with 38% of all New York households earning $25,000 or less lacking access to a high-speed internet connection; and

WHEREAS, the outmoded electric grid in New York, and most of the nation, is woefully inadequate to provide much needed two-way transmission of electricity critical to the development and expansion of renewable power; and...."

New Mexico Goes Big with the NIB

websitebuilder@1and1.de — Tue, 05 Oct 2021 23:51:38 GMT

October 5 2021- The Albuquerque Journal published an Opinion column entitled: "Infrastructure bill much needed in New Mexico-

Our state and country are literally crumbling; here’s a fix that won’t raise taxes or add to debt: Congressional HR 3339". (See below.) The letter was submitted by Senators Bill Tallman and Gerald Ortiz Y Pino, and Reps. Joy Garrett and Elizabeth Thomson. The newspaper also lists a significant number of prominent citizens to the right of the statement under "Community support."

This follows in the past few days, further coverage in New Mexico's media. This includes an Op-Ed from Senator Tallman and others in the Santa Fe New Mexican, and an advertisement over the weekend in support of the NIB in the Albuquerque Journal .

Rio Rancho Observer and Erie Times News Publish Op-Eds on NIB

websitebuilder@1and1.de — Sun, 03 Oct 2021 23:24:52 GMT

October 3 2021- The Rio Rancho Observer , and Erie Times News are now the latest news media to publish Op-Eds submitted by prominent supporters of HR3339 and the National Infrastructure Bank. (Click links to see full letters.)

The Rio Rancho Observer included the following in the letter:

"The infrastructure needs of New Mexico are daunting. According to the American Society of Civil Engineers, some of the urgent problems include:

30 percent of New Mexico roads are in poor condition that damages cars;
6.5 percent of our bridges are structurally deficient;
219 dams are rated high hazard potential;
The cost to bring drinking water systems to a state of good repair is over $1.4 billion;
20 percent of New Mexico’s students lack internet service at home, and 8 percent don’t have a computer;

New Mexico needs large water projects to bring fresh water into the state to address the drought; and

The power grid in New Mexico must be expanded and upgraded to assimilate electricity produced by renewables and other sources.

Only the National Infrastructure Bank can address this staggering need. It will create millions of new jobs, pay Davis-Bacon wages and mandate Buy American policies.

We are losing the infrastructure race to China. The Chinese spend 8 percent of their gross domestic product on infrastructure; Europe 5 percent and the U.S., barely 2 percent. Is it any wonder that U.S. infrastructure is ranked 13th in the world?
Resolutions of endorsement have been pouring in from state legislatures, city and county councils, and labor and business organizations. A resolution was introduced during the 2021 session (SM2).

New Mexico endorsements include: New Mexico LULAC, Central New Mexico Central Labor Council, the Alliance for Local Economic Prosperity, Rio Arriba County Board of Commissioners and others.

New Mexicans want to improve our quality of life!

We urge everyone to support HR 3339. Contact your Congressional representative to enlist their sponsorship of this measure.

Signers include:
Ada Lee, Democratic Party activist, Rio Rancho
Linda Chavez, Democratic Party activist, Rio Rancho
Dennis Montoya, Board of Directors and past State Director, LULAC New Mexico; Rio Rancho
Sen. Bill Tallman, District 18, Albuquerque
Sen. Roberto “Bobby” Gonzales, District 6, Taos
Sen. Harold Pope, District 23, Albuquerque
Sen. Elizabeth “Liz” Stefanics, Chair Senate Conservation Committee, District 39, Los Cerrillos
Sen. Jerry Ortiz y Pino, District 12, Chair Senate Health and Public Affairs Committee, Albuquerque
Sen. Linda Lopez, District 11, Majority Whip, Albuquerque
Sen. Antoinette Sedillo-Lopez, District 16, Albuquerque
Rep. Joy Garratt, District 29, Albuquerque
Rep Gail Chasey, District 18, Chair House Judiciary Committee, Albuquerque
Rep. Christine Chandler, District 43, Los Alamos
Rep. Elizabeth Thomson, District 24, Chair House Consumer and Public Affairs Committee, Albuquerque
Fred Baca, State Director, LULAC New Mexico, Silver City
Mark Strand, President Central New Mexico Central Labor Council; Albuquerque
Angela Merkert, Executive Director, Alliance for Local Economic Prosperity (New Mexico), Albuquerque
Sarah Manning, Outreach Coordinator, Alliance for Local Economic Prosperity, Albuquerque
Josie Marrujo, Past President AFGE Local 4041; Founding member AFGE Hispanic Coalition; President, LULAC Council 8057; Albuquerque
Dr. Pablo Vigil, Board of Directors, New Mexico Hispanic Medical Association, Las Vegas"

King County Democrats Endorse NIB

websitebuilder@1and1.de — Thu, 30 Sep 2021 13:41:04 GMT

September 30 2021-The Democratic Party of King County, Washington has just adopted a resolution calling upon the US Congress to enact HR3339, and create a National Infrastructure Bank. King County is the nation's 12th largest county, which includes Seattle.

Scranton Times-Tribune Endorses NIB; Wilkes-Barre Times Leader Runs Op-Ed

websitebuilder@1and1.de — Sun, 26 Sep 2021 18:07:16 GMT

September 25, 2021- Scranton, Pennsylvania's newspaper, The Times-Tribune, endorsed the creation of the National Infrastructure Bank in a lead editorial today. Meanwhile, in nearby Wiles-Barre, the Times Leader ran an Op-Ed supporting the NIB, signed by a list of lawmakers and others.

The editorial in The Times-Tribune states:

"The struggle in Congress over a badly needed $1.2 trillion infrastructure package has revived an excellent idea that would take much of the politics out of infrastructure spending and make it a continuous, rather than sporadic priority — the creation of a national infrastructure bank.

State Reps. Eddie Day Pashinski of Wilkes-Barre and Kyle Mullins of Lackawanna County have signed on to a national effort to create such an institution.

Alexander Hamilton created such a bank as treasury secretary in 1791. And during the Franklin D. Roosevelt administration, the Reconstruction Finance Corp. served the same function.

A new infrastructure bank would be modeled on the RFC. It would require a small appropriation from Congress to start, but would not require ongoing funding. Rather, it would buy existing treasury debt from private sector investors at a guaranteed rate of return 2% higher than what they would earn from those bonds. It then would lend money for projects, primarily to state and local governments, at low-interest rates. But advocates calculate that the institution would earn about $80 billion a year on a revolving $5 trillion in loans, with which it would meet its own expenses, pay interest to bondholders and pay a dividend to the Treasury.

Projects would be funded according to a cost-benefit analysis, rather than according to the relative clout of politicians, and according to the creditworthiness of the prospective borrower.

Congress should take up the idea to fund a host of other needed projects, as a matter of good business rather than bad governance."

Albany County and New York State Association of Counties Endorse NIB

websitebuilder@1and1.de — Sat, 25 Sep 2021 18:38:58 GMT

September 25,2021- Two important organizations have just issued resolutions calling upon the US Congress to enact HR 3339 and create a National Infrastructure Bank. These are the Albany County Legislature and the New York State Association of Counties.(NYSAC)

The NYSAC resolution states in part:

“WHEREAS, broadband access is still woefully deficient in New York State. Lack of physical access to broadband is a problem endemic in rural counties throughout the State, impeding economic development and quality of life. According to an analysis of the 2018 Census data by Future Ready Schools, 38 percent of all New York State households earning $25,000 or less have no high-speed home internet connection; 20 percent of households in the New York City metropolitan area, serving 750,000 students, lack high-speed internet. According to the National Digital Inclusion Alliance, 32 percent of households in Syracuse, 20 percent in Rochester, and 19 percent in Buffalo had no broadband connection of any type. According to the United States Census, that figure was 25 percent in Utica; and…”

Both of these resolutions can be viewed and downloaded on the Endorsements page.

New York Lawmakers' Letter on the NIB Published in New York Newspapers

websitebuilder@1and1.de — Wed, 15 Sep 2021 00:04:02 GMT

September 14 2021- Two New York newspapers have published an opinion column submitted by prominent New York lawmakers and labor leaders.

The Op-Ed states in part:

"Decades of underfunding our infrastructure, of relying upon a patchwork and reactive approaches has slammed into reality. Our nation faces unprecedented extreme weather events and other challenges from coast to coast which threaten our well-being.

Thus far, Congress’ response has been inadequate. Where the need for new infrastructure investment is $5 trillion or more, the Senate’s “Infrastructure and Jobs Act” proposes just $550 billion of new spending. We support this legislation, but it lands far short of the mark.

We, the undersigned, are rallying our citizens to demand that Congress respond to this crisis in a way which is appropriate: The establishment of a large, $5 trillion National Infrastructure Bank, as outlined in HR3339...."

The article appeared in The Journal News which covers the Lower Hudson Valley and in the Rochester Democrat and Chronicle newspaper.

Ellen Brown Interviews NIB Coalition's Alphecca Muttardy and Dr. Stephen Hubbard

websitebuilder@1and1.de — Sat, 11 Sep 2021 20:40:48 GMT

On September 8, 2021, economist Ellen Brown interviewed Alphecca Muttardy and Dr. Stephen Hubbard.

The interview was published with the following description: "When costly projects like infrastructure stare down government budgets, taxpayers and politicians understandably get nervous. If federal financial support doesn’t take the lead, states and municipalities must come up with large amounts of money on their own usually through bonds and raised taxes. Another approach widely touted is “public-private-partnerships” – a financial collaboration that shares responsibilities and outcomes between private investors and public resources. Sometimes it works out. Often it doesn’t. Our guests, Drs. Alphecca Muttardy and Stephen Hubbard of the National Infrastructure Coalition, are experts in the field of infrastructure finance and PPP’s and delve into what America urgently needs in the way of infrastructure investment right now, and why PPP’s aren’t the reliable go-to partners they claim to be."

Listen to the full interview here.

Newspaper Op-ed on National Infrastructure Bank

websitebuilder@1and1.de — Wed, 08 Sep 2021 23:50:43 GMT

The following Op-ed will be submitted to a large variety of newspapers across the country.

If you would like to add your support, please email your name and title to info@nibcoalition.com

Thank you in advance.

The Infrastructure Crisis Meets the ‘Perfect Storm’: Time for National Infrastructure Bank!

Decades of underfunding our infrastructure, of relying upon a patchwork and reactive approaches has slammed into reality. Our nation faces unprecedented extreme weather events and other challenges from coast to coast which threaten our well-being.

Thus far, Congress’ response has been woefully inadequate. Where the need for new infrastructure investment is $5 trillion or more, the Senate’s “Infrastructure and Jobs Act” proposes just $550 billion of new spending. While we support this, it lands far short of the mark.

This $5 trillion public bank does not rely upon the appropriations process. It does not require new federal taxes and will not increase our deficit. By repurposing existing Treasury debt, as was done previously in U.S. history, it will finance everything we need, and quickly. We will be able to build multiple layers at the same time, such as water, sewer, rail, power, all of which inhabit the same space.

Infrastructure requires concerted federal action. We need a new power grid, a new high speed rail system, and large-scale water projects like those last erected under President Franklin Roosevelt.

Only the National Infrastructure Bank can address this staggering need. It will create tens of millions of new jobs, pay Davis-Bacon wages and mandate Buy American policies. The NIB will supercharge the U.S. economy, and reopen American industry. It will ensure robust minority hiring, promote disadvantaged business enterprises, and spawn a resurgence of small business.

It is better to think fifty years from now, and where we will need to be, as we repair and upgrade the current system. China spends 8% of its GDP on infrastructure; Europe 5% and we spend barely 2%. Is it any wonder that our infrastructure is ranked 13 ^th in the world?

Resolutions of endorsement have been pouring in from every part of the country including state legislatures, city and county councils, and labor and business organizations. People are fed up with “the same old same old”!

We urge everyone to support HR 3339 and contact your Congressional representative to enlist their sponsorship of this measure.

New Video- How the NIB Will Rebuild our National Power Grid

websitebuilder@1and1.de — Sun, 05 Sep 2021 20:25:40 GMT

The NIB Coalition has just released a blockbuster video, detailing the requirements for rebuilding the US power grid. Alphecca Muttardy, chief macroeconomist for the Coalition, is joined by expert energy consultant Stan Forczek, also a leader of the NIB coalition, to take on this most urgent issue in the wake of the devastating hurricane Ida.

This video can be viewed by clicking below.

Seattle Indivisible Endorses National Infrastructure Bank

websitebuilder@1and1.de — Sat, 21 Aug 2021 20:50:15 GMT

Seattle Indivisible has adopted a resolution calling upon the US Congress to enact HR3339 and create a National Infrastructure Bank.

According to their website, "Seattle Indivisible is a group focused on influencing our Members of Congress (MoCs) via the grassroots to help enact progressive change at the Federal level. "

The Debate about P3 is not “Inside the Beltway”: It is about the Beltway.

websitebuilder@1and1.de — Wed, 11 Aug 2021 18:41:25 GMT

Short Case Study About How Elected Officials Are Going Nuts Without a National Infrastructure Bank

August 11, 2021--The following is merely one example of the desperate condition our nation has been reduced to, as local, regional, and federal financing have failed to address crucial upgrades in our regional infrastructure. The alternative, already discredited, has become public-private partnerships(P3). While they work, at best, in a limited number of cases, they have already failed as a policy antidote. Even so, powerful financial interests have made P3 part of the ongoing debate around infrastructure, and an included feature of most of the ‘infrastructure banks” other than the real, authentic Hamiltonian variety as seen in HR3339.

Here is one, brief story.

Despite previous opposition in Montgomery County, Md, the proposed P3 financed “hot lanes” for I-495 and I-270 are now set for a vote in the upcoming week. The Maryland Board of Public Works, which has three members including Maryland Governor Hogan, has the green light to vote because of the now majority support from the Montgomery County Council, and they are expected to approve the

deal. (1) (Editor's note: the board approved moving forward in the vote today.)

The companies expected to win the contract include Macquarie and Transurban, both Australian companies involved in constructing private toll roads.

The point can be made by pointing to another nearby and related project.

Part of Transurban’s contract in constructing the hot lanes in Virginia (also on the same I-495 Beltway) includes a provision that effectively prevents the creation of rail lines connected to these interstates, which would “siphon off” money from the private investors. They have a right under their contract (which expires in 2087) with Virginia, to seek compensation from the state, if Virginia would dare invest in such regional rail such as rail which went around the DC Beltway. (2)

See Complete Article...

New Mexico Capital Newspaper Ad Promotes $5 Trillion National Infrastructure Bank

websitebuilder@1and1.de — Tue, 10 Aug 2021 19:55:42 GMT

The Coalition for a National Infrastructure Bank (NIB) placed an ad in the Sunday, August 8, edition of the Santa Fe New Mexican, to further build support for HR 3339. The ad details how the $5 trillion NIB would build all the nation’s infrastructure, including bringing fresh water into the Southwest. This campaign will continue to promote the NIB as a supplement to the infrastructure bills in Washington that are currently being debated.

Two New Resolutions Supporting NIB in Florida and Pennsylvania

websitebuilder@1and1.de — Thu, 05 Aug 2021 00:40:42 GMT

The momentum continues in states and localities in support of HR3339 and the creation of a National Infrastructure Bank.

The North Central Florida Regional Planning Council, which includes twelve counties and forty municipalities, issued an endorsement for the NIB. Also, now before Pennsylvania's State Senate is Senate Resolution 153, with numerous co-sponsors, which calls on Congress to act on the NIB. Both resolutions are available on the NIB Coalition's Endorsements page.

Pennsylvania Senate Resolution 153 Introduced

websitebuilder@1and1.de — Mon, 02 Aug 2021 01:14:20 GMT

The State Senate of the Commonwealth of Pennsylvania is now considering a resolution which calls upon Congress to pass HR3339 and create a National Infrastructure Bank.

The resolution states in part: "Whereas, The ASCE gave Pennsylvania an overall C- in its 2018 report card; and....Despite this overall "fair" grade, numerous key infrastructure areas are lacking, including 43% of roadways owned by the Department of Transportation having fair or poor roadway surfaces, and traffic congestion presently resulting in more than $3.7 billion annually in lost time and wasted fuel; and....."

Anchorage Municipal Assembly Supports HR3339, National Infrastructure Bank

websitebuilder@1and1.de — Thu, 29 Jul 2021 20:17:04 GMT

July 29 2021-The Anchorage Municipal Assembly has recently passed a resolution supporting HR3339 and the creation of an NIB.

The resolution states in part:

"WHEREAS, Alaska received a grade of C in 2017. The state has over 280 rural communities, 31 of which have no centralized water or wastewater system and rely on hauling water from near by rivers or lakes. Alaska has a total estimated funding need of $1.5 billion for water and wastewater systems, and

WHEREAS, the Port of Alaska, here in Anchorage, receives approximately 85% of all consumer goods entering the state for use in the railbelt, is currently unable to adequately fund a needed Modernization project, and

WHEREAS, there is a shortage of adequate shelter in Anchorage. As of January 2020, Anchorage’s official homeless population was 1058, with 1003 people living in shelters and 55 living outside. Anchorage needs approximately 1700 rapid rehousing units and 700 units for permanent supportive housing, this is an increase from the prior year, and...."

On Eve of Key Votes on Infrastructure, NIB Coalition Experts Challenge Inadequate Proposals

websitebuilder@1and1.de — Sun, 25 Jul 2021 19:12:59 GMT

July 25, 2021- As the Congress holds votes on the question of infrastructure, two realities are clear. First, the total amount of infrastructure spending being considered is inadequate. Second, various "infrastructure banks" that have been floated in recent days, which are NOT the National Infrastructure Bank of HR3339, will not address the scale of investment needed.

The video "Why the $5 Trillion NIB is Vastly Superior to All Other Congressional Infrastructure Legislation" clearly outlines the various alternatives being discussed.

That video was part of a larger NIB Coalition Zoom Conference call entitled "Congress Punts on Infrastructure, Again; Score a Touchdown with the National Infrastructure Bank”. The full video of that call's presentations can be seen here.

Resolutions for NIB Continue to Surge; LULAC (NM), Wa. State 34th District Dems

websitebuilder@1and1.de — Sun, 18 Jul 2021 15:52:33 GMT

July 18 2021- This past week has seen a marked increase in the number of resolutions calling upon Congress to adopt HR3339 and create a National Infrastructure Bank. The latest resolutions include the 34th District Democrats of Washington State, and the New Mexico chapter of LULAC, the New Mexico League of United Latin American Citizens.

Bi-Partisan Resolution Supporting HR3339 Introduced in Michigan Senate

websitebuilder@1and1.de — Sat, 17 Jul 2021 21:39:30 GMT

Michigan State Senate Resolution 77 has now been introduced, with bi-partisan support, calling upon the US Congress to create a National Infrastructure Bank by adopting HR3339.

The resolution cites multiple conditions in Michigan which necessitate the creation of the $5 Trillion bank. This includes the following:

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...

New Jersey Senate Resolution Memorializes Congress to Create National Infrastructure Bank

websitebuilder@1and1.de — Fri, 16 Jul 2021 22:58:35 GMT

New Jersey Senate Resolution Senate Resolution 81 has been passed, calling upon Congress to adopt a National Infrastructure Bank. The resolution states is "These infrastructure issues are in addition to the critical condition that has developed within the tunnels under the Hudson River that support commerce between New Jersey and Manhattan. These 108-year old tunnels carry 20 percent of the national GDP on a daily basis, and the collapse of one or both tunnels would be cataclysmic. Additionally, the bridges carrying trains to the tunnels, the Portal Bridge and others, need urgent repair or outright replacement. These tunnels form a chokepoint, the failure or shutdown of which would have a ripple effect on transportation and commerce throughout New Jersey and the region; and..."

Muttardy Interviewed on WPKN's Counterpoint Radio Show

websitebuilder@1and1.de — Thu, 15 Jul 2021 23:01:17 GMT

July 12 2021-Continuing a recent increase in media coverage, the NIB Coalition's macroeconomist was interviewed on the program "Counterpoint" which airs on Connecticut radio WPKN.

The interview can be heard here.

Muttardy Interviewed On Pacifica Radio KPFA

websitebuilder@1and1.de — Wed, 14 Jul 2021 19:37:18 GMT

Alphecca Muttardy, macroeconomist for the NIB Coalition, spoke with the Evening News of KPFA-Pacifica Radio, on Saturday, July 10. The interview addresses the question of how all of the proposed infrastructure will be paid for, using the National Infrastructure Bank.

Listen to the full interview here.

WORT Radio Interviews Muttardy: National Infrastructure Bank Can Pay Its Way

websitebuilder@1and1.de — Mon, 12 Jul 2021 20:31:48 GMT

WORT Radio from Madison, WI posts the following, accompanying an taped interview with NIB Coalition macroeconomist Alphecca Muttardy on July 8: "The Biden infrastructure plan falls $2.5 trillion short of what the country needs for the next 10 years to rebuild an infrastructure that has been ignored for the past 60 years: this according to a report of the American Society of Civil Engineers. Alphecca Muttardy from the Coalition for a National Infrastructure Bank talks about how such a bank could finance our infrastructure demands, plus possibly have money remaining to provide grants for low income loans. The proposed bill HR3339 will address these shortcomings in funding infrastructure without deficit spending."

Hear the full interview here.

Text of HR3339, The National Infrastructure Bank Act of 2021, is posted on Congress.gov: Time to Get Co-Sponsors is Now

websitebuilder@1and1.de — Mon, 05 Jul 2021 15:10:38 GMT

In the past few days, the full text of HR3339 has become available on Congress.gov, and it is available here . The new bill raises the lending capacity of the NIB from $4 Trillion (HR6422) to $5 Trillion (HR3339). In addition. the new bill, is called "The National Infrastructure Bank Act of 2021."

So, now is the time to pull out the stops, reach your member of Congress (and others) and request their co-sponsorship of the National Infrastructure Bank Act of 2021 (HR3339)!

Resolution calling for National Infrastructure Bank introduced in Pa. House

websitebuilder@1and1.de — Thu, 01 Jul 2021 19:15:12 GMT

HARRISBURG, June 30 – State Reps. Ed Neilson, Mary Jo Daley, Eddie Day Pashinski and Joe Ciresi announced the introduction of a resolution urging Congress to establish a National Infrastructure Bank to repair, enhance and revolutionize the country’s infrastructure while creating 25 million living-wage jobs.

"Throughout my entire professional career, I have been deeply rooted in the labor sector," Neilson, D-Phila., said. "I know the value of those jobs to the people who work in them, and I know how vital those jobs are to our economy and the well-being of our communities. Right now, our commonwealth's infrastructure is in crisis. A National Infrastructure Bank would allow us to support various industries , create jobs and address the issue of our aging and deteriorating infrastructure."

See full press release here.

Biden Infrastructure Plan Still needs a Large Public Bank to Complement It

Tue, 29 Jun 2021 00:52:56 GMT

Last Updated June 27, 2021

In the final weeks of June, 2021, the Biden Administration has negotiated with a Bi-partisan group of Senators on the terms of a package to provide $973 billion for infrastructure projects over five years ($579 billion in new spending, plus $394 in re-authorization of existing spending). Finalizing the Bi-Partisan Plan (BPP) will still depend on reaching agreement on how to pay for it, as well as on the terms of a second, companion package – The American Family Plan – moving through Congress under reconciliation rules.

Even if approved, the BPP will not be enough to cover the full infrastructure financing gap identified by the American Society of Civil Engineers (ASCE, see Table 1 below). ASCE estimates that $2.6 trillion is needed over 10 years, far greater than the $579 billion of new money over five years suggested under the BPP. Nothing is allocated under the BPP to cover high speed rail, schools, dams and levees, public parks, affordable housing, or new water delivery projects for drought stricken areas in the U.S. And the amount assigned to water infrastructure is a fraction of what is needed, according to ASCE.

A fully funded, public, National Infrastructure Bank (NIB), as set out in HR 3339, would finance up to $5 trillion to cover all of the infrastructure projects listed above, in every single jurisdiction in the country. Passage of the Bill would guarantee complete funding over a ten-year period, without the need to re-negotiate again in 5 years or beyond. Moreover, the NIB would pay its own way, offer low-cost loans, mobilize for economic growth and development, all without adding to Federal taxes or deficits.

This NIB is the best option to fully complement the Administration’s proposed infrastructure plan.

Rhode Island Senate Adopts Memorial to US Congress Concerning the National Infrastructure Bank

websitebuilder@1and1.de — Sat, 26 Jun 2021 17:04:57 GMT

June 24, 2021- The Senate of Rhode Island passed a resolution "Respectfully requesting the United States Congress to endorse the National Infrastructure Act." Senate Resolution 0029 specifically calls for the adoption of HR3339, which was introduced into the 117th Congress.

The Resolution is available on the endorsements page of the NIB Coalition.

Bloomberg covers National Infrastructure Bank and HR3339 In Article On Infrastructure Funding Battle

websitebuilder@1and1.de — Fri, 25 Jun 2021 21:38:51 GMT

“Infrastructure Bank Back in Play as Idea in Search of Its Time”, June 22, 2021, is the title of an article penned by Bloomberg Government reporter, Lillianna Byington, on various “national Infrastructure bank” (NIB) proposals as a way to pay for infrastructure. The prominent, and opposing conceptions of NIBs, discussed in the article, are the Warner Senate Bill, S.1499, and the Davis House Bill, HR 3339. The two very different views of how to pay for infrastructure will give you a flavor of the degree of infighting currently going on in the Nation’s capital.

The article refers to previous NIB proposals over the years, however, not since HR 6422, introduced in 2020, and the newly introduced, HR 3339, was one modeled on the original national bank by Alexander Hamilton.

Byington ends her article with reference to HR 3339, and a quote from one of its leading proponents.

“Some proponents, like Alphecca Muttardy, a macroeconomist with the Coalition for a National Infrastructure Bank, want to see a massive $5 trillion bank that would lend only to infrastructure projects and would be large enough to cover the entire infrastructure financing gap in the federal budget. The coalition supports a House bill ( H.R. 3339 ) that would create a national infrastructure bank, which was introduced by Rep. Danny Davis (D-Ill.).”

‘“You have to have it big enough to cover everything,” she said. “By having it big enough to cover everything, then all of these hinterland areas would be able to get their fair share of the financing. Right now, the pie is too small.”’

Sen Bill Tallman Op-ed on the NIB: From Washington to Roosevelt it's a proven system of investing in ourselves

websitebuilder@1and1.de — Mon, 21 Jun 2021 18:56:51 GMT

June 21, 2021- Today's Albuquerque Journal published a guest column penned by New Mexico State Senator Bill Tallman, promoting HR 3339 and the creation of the National Infrastructure Bank.

Senator Tallman earlier this year introduced Senate Memorial 2 calling on the US Congress to support the NIB.

The full text of Sen. Tallman's column can be read here.

Video on High Speed Rail in America's Northwest: Cascadia

websitebuilder@1and1.de — Thu, 17 Jun 2021 21:06:16 GMT

Brad Perkins, president and CEO of Cascadia High Speed Rail LLC gives Americans a choice: do we want to continue to be frustrated, stuck in traffic jams on overcrowded freeways, or do we want a better way?

The better way is high speed rail. Mr. Perkins gives an overview of the route in the northwest corner of the USA, from Eugene, OR to Vancouver.

He also makes the case for high speed rail more broadly. For trips that are 100 to 1000 miles long, high speed rail is far more fuel-efficient, far better for the environment, and faster and more pleasant than car or airplane.

The rest of the world is passing us by. Mr. Perkins gives the example of Japan - they spend $115 Billion dollars per year on high speed rail. They will have 40,000 miles of high speed train track laid by 2028.

How many miles of high speed rail does the USA have? Zero.

It's time to change this!

Watch the full video here.

CWA State Council of Ohio Endorses National Infrastructure Bank

websitebuilder@1and1.de — Tue, 15 Jun 2021 20:00:36 GMT

Ohio's statewide body of the Communications Workers of America, has issued an endorsement for the creation of the National Infrastructure Bank. That statement includes the following: "Whereas, the new bank would create an estimated twenty-five million new jobs paying Davis-Bacon wages. It would ensure project labor agreements for all projects and Buy American provisions also while awarding a significant number of contracts to disadvantaged business enterprises and mandating large-scale minority hiring. It is expected to grow the economy by four to five percent each year; and...

Wisconsin Transit and Realty Group NIB Endorsement

websitebuilder@1and1.de — Sat, 12 Jun 2021 14:26:04 GMT

The Wisconsin Transit and Realty Group has issued a letter of endorsement for HR 3339 and the creation of a National Infrastructure Bank.

The statement includes the following : "A high priority of this bank will be to finance extensive new passenger, freight, and High Speed rail systems nationwide....this initiative will help grow our business in Wisconsin and the State of Wisconsin itself. The WTRG is currently working on an innovative approach to a strategic partnership that will provide commuter rail services from Chicago IL to and through Kenosha, Racine, Milwaukee and Waukesha..."

Cascadia High Speed Rail Endorses HR 3339, the National Infrastructure Bank Act

websitebuilder@1and1.de — Fri, 11 Jun 2021 15:50:41 GMT

Cascadia High Speed Rail, llc, has issued a letter of endorsement for HR 3339, the newly introduced bill to create a National Infrastructure Bank. (Note: the NIB was introduced into the previous session of Congress as HR 6422.)

The endorsement letter includes the following: "Cascadia High Speed Rail Company supports HR 3339 which creates the National Infrastructure Bank as a source to allocate $1 trillion to help finance the construction of high-speed rail in the Northwest and throughout the United States as an unbelievably fast, reliable and equitable transportation system that will greatly reduce air pollution..."

The full endorsement is available on the Endorsements page of the NIB Coalition's website.

Stanley Forczek Guest Opinion in Mass Transit Magazine: A National Infrastructure Bank Could Solve the U.S.'s Trillion-Dollar Infrastructure Investment Challenge

websitebuilder@1and1.de — Wed, 09 Jun 2021 21:39:20 GMT

Stan Forczek, a member of the Advisory Team for the Coalition for a National Infrastructure Bank, had a Guest Opinion piece published in the widely circulated Mass Transit Magazine in their June 2021 edition. The full text of the article can be viewed here.

New NIB Coalition Video: Breaking the Logjam on Infrastructure Funding

websitebuilder@1and1.de — Thu, 03 Jun 2021 15:25:04 GMT

This new video presents a small group discussion on the proposed national infrastructure bank as outlined in HR 3339, and its relationship to the current proposals for infrastructure repair and investment.

Alphecca Muttardy, a macroeconomist with decades of experience at the International Monetary Fund, describes the ways in which the Biden plan and the Republican counter-proposal fall short of addressing the nation’s infrastructure needs, and how the NIB can take up the slack.

Stephen Hubbard, 29 years with the Metropolitan Water District of Southern California, expands on Alphecca’s presentation with a deeper look at the costs of “deferred maintenance”, as well as a look at what’s happening with rural America. If we don’t adopt the NIB, rural America faces a bleak future withering away for lack of investment into water, power, health care, and transportation This underscores why we a need multi-trillion dollar infrastructure bank.

Stan Forczek, retired after decades with Amtrak, ends the video with a summary of the case for adopting the National Infrastructure Bank.

Click here to watch the video.

Dodge County WI Supports National Infrastructure Bank

websitebuilder@1and1.de — Wed, 19 May 2021 17:07:28 GMT

April 20, 2021- The County Board of Supervisors of Dodge County adopted a resolution supporting HR 6422 and the creation of a National Infrastructure Bank. Dodge County is is central Wisconsin, between Milwaukee and Madison.

Pa. Business Report: "National Infrastructure Bank would revolutionize infrastructure funding, legislators say"

websitebuilder@1and1.de — Mon, 10 May 2021 17:57:00 GMT

May 10 2021- The Pennsylvania Business Report covered a recent opinion piece posted on the Pennsylvania House web site, which highlights the National Infrastructure Bank and HR 6422.

“If there’s one issue that Americans mostly can agree on as Democrats, Republicans, and independents – as well as presidents past and present – it’s that our great country needs to repair, rebuild, replace and enhance its physical and operational infrastructure for our country’s future and prosperity,” the Business Report quotes the legislators saying.

See the full article here .

Illinois House Resolution Adopted Endorsing NIB

websitebuilder@1and1.de — Sat, 08 May 2021 19:02:17 GMT

May 8, 2021- The Illinois House this week has adopted HR20, calling upon Congress to create the National Infrastructure Bank. This is the second such resolution adopted this week including Nevada, indicating the momentum behind the adoption of the NIB.

Nevada Legislature Passes National Infrastructure Bank Resolution

websitebuilder@1and1.de — Thu, 06 May 2021 19:47:39 GMT

May 6, 2021- Both houses of the Nevada Legislature have now passed AJR7, with bi-partisan support, calling upon the US Congress to enact the National Infrastructure Bank Act of 2020.

The resolution states in part: " WHEREAS, It is estimated that: (1) the rehabilitation and future maintenance of Nevada’s most critical dams will cost up to $40,000,000; (2) Nevada’s drinking water infrastructure requires a total of $5.316 billion in needed funding over the next 20 years and $3.964 billion of that amount is required for large drinking water systems; and (3) the State faces a $450,000,000 backlog of road and bridge repairs, mostly due to needed repairs in rural areas; and"

"WHEREAS, A new National Infrastructure Bank would: (1) help finance much of the infrastructure of Nevada in partnership with the state and local governments; (2) support the hiring of people who have lost their jobs during the COVID-19 pandemic; (3) provide training for new infrastructure-related employment..."

Alachua County, Florida Adopts NIB Resolution

websitebuilder@1and1.de — Wed, 28 Apr 2021 16:15:33 GMT

The Board of County Commissions of Alachua County, Florida has adopted a resolution calling upon the US Congress to create a National Infrastructure Bank. Alachua County's primary city is Gainesville, home of the University of Florida.

Here is some of the language of the resolution:

"WHEREAS, the ASCE Report Card in 2021 gave Florida a grade of C, with drinking water a C+, Schools a D+, stormwater a D, transit a C, and roads a C. Florida faces multiple infrastructure challenges. For example, driving on roads in need of repair in Florida costs each driver $425 per year, 2.9% of bridges are rated structurally deficient—half of those are under county ownership and maintenance. Drinking water needs in Florida are an estimated $21.9 billion. The state also has $18.4 billion in wastewater needs. 102 dams are considered to be high-hazard potential. To address the ongoing problem of hurricane devastation, the state will need to put many power lines underground, build seawalls, and other structures; all this deteriorating infrastructure impedes Florida’s ability to compete in an increasingly global marketplace and,

WHEREAS, stormwater was added as a new category given its importance in safeguarding water quality and protecting against flooding, and received a D+ rating, and,

WHEREAS, the annual gap in stormwater funding is over $7.5 billion just for compliance, excluding urban flooding, and given that increasing development creates more impervious surfaces, and, the combination of aging, often inadequately designed stormwater management systems and rainfall volumes that are increasing over time result in increased runoff that means more flooding, and cloud bursts, especially in urban areas, and more pollutants entering streams and rivers, and,

WHEREAS, flooding and stormwater management have been identified as an area of vulnerability in Alachua County, Florida (Alachua County DEP)"...

Chamber of Eco Commerce Supports National Infrastructure Bank

websitebuilder@1and1.de — Fri, 23 Apr 2021 16:55:33 GMT

April 22, 2021- The Chamber of Eco Commerce has released a statement endorsing the creation of a National Infrastructure Bank and HR 6422 (2020).

The statement says in part: "The Chamber of Eco Commerce has been in the forefront of supporting the infrastructure issues for many years. We have made fixing our water and wastewater infrastructure a priority. We have also focused on supporting energy infrastructure , including transmission technologies and transformers. In addition, we have placed emphasis on transportation, including vehicle design and many other areas. The problem has always been how to do it and how to pay for it. The American Society of Civil Engineers recent report card indicate that over $1 trillion will be needed over the next ten years to solve just the water problem. We need to install new systems to bring clean drinking water to urban and rural communities....In that light, the Chamber of Eco Commerce knows that it will take an assortment of tools in the tool kit to build us out of the crisis. One such tool is HR 6422, The National Infrastructure Bank Act, which would create a National Infrastructure Bank to finance $4 trillion worth of infrastructure."

Alaska Senate Resolution SJR14 Supporting National Infrastructure Bank

websitebuilder@1and1.de — Fri, 16 Apr 2021 15:54:20 GMT

April 14 2021- State Senator Tom Begich introduced a resolution calling on the US Congress to enact HR 6422 and create a National Infrastructure Bank. Here is some of the language from that Resolution:

"WHEREAS 31 of over 280 rural communities in the state do not have centralized water or wastewater systems, requiring residents to haul water and ice from rivers and lakes and use outhouses, "honey buckets," and sewage lagoons for disposal of solid waste; and

WHEREAS the cost of installing and repairing water and wastewater systems in the state is estimated to be $1,500,000,000; and

WHEREAS the Port of Anchorage, which receives 85 percent of all consumer goods entering the state, lacks funding needed for an essential modernization project; and

WHEREAS the inability of the state to finance a deep-water port in the Arctic will deprive the state's economy of the coming benefits of expanded northern trade routes and development in the region; and

WHEREAS the state lacks sufficient infrastructure to house its residents, with the official estimate by the United States Department of Housing and Urban Development of persons experiencing housing insecurity in the state reaching 1,949 in 2020, including 1,725 persons living in shelters and 224 living outdoors at that time; and

WHEREAS, according to the Anchorage Coalition to End Homelessness, in January 2020, the official number of persons experiencing homelessness in Anchorage was 1,058, including 1,003 persons living in shelters and 55 living outdoors at that time; and

WHEREAS Anchorage is currently in need of 1,695 more housing units for rapid rehousing and 700 housing units for permanent supportive housing; and

WHEREAS, in 2019, approximately 7,900 people in Anchorage sought some form of assistance because of homelessness, up from 7,763 in the previous year; and

WHEREAS a new national infrastructure bank, working in partnership with state and local governments, could finance many of the projects needed in the state, including infrastructure for broadband transmission, affordable housing units, railroad facilities, and..."

Media Coverage of NIB Picking Up Steam

websitebuilder@1and1.de — Tue, 13 Apr 2021 17:03:16 GMT

MEDIA COVERAGE OF NIB PICKING UP STEAM

Media interest in the National Infrastructure Bank is starting to pick up steam. Just in the last week, The Providence Journal and India America Today published an Op-Ed penned by Rhode Island Senator Louis DiPalma. The Op-Ed is based on an “Open Letter to Congress,” released by the Coalition for a National Infrastructure Bank, and has been endorsed by almost a hundred prominent elected officials, labor leaders, and other substantive businesses and organizations. The Coalition ran a high-profile ad of the Letter in the Scranton Times-Tribune, Biden’s hometown newspaper, on April 1, the day after the President rolled out his American Jobs Plan. In addition, The Majority Report highlighted the National Infrastructure Bank in a 2-minute clip that has already gotten thousands of views. Help us spread the word. Take the Open Letter below, circulate it or get it published in your local newspaper, or turn it into your own Op-Ed. Interest is high and time is short.

"The Majority Report" Highlights National Infrastructure Bank in Recent Video

websitebuilder@1and1.de — Sun, 11 Apr 2021 20:29:51 GMT

"The Majority Report" hosted by Sam Seder posted a new video "What A National Infrastructure Bank Could Do For America" on April 10, 2021. The report is broadcast daily, both on YouTube and by live audio, and has more than one million subscribers. The video can be viewed here.

Opinion/DiPalma: Infrastructure bank will benefit RI and the nation

Fri, 09 Apr 2021 17:11:48 GMT

Sen. Lou DiPalma, D-Middletown, is chairman of the Senate Committee on Rules, Government Ethics and Oversight. Ohio State Rep. Lisa Sobecki, North Carolina State Rep. Shelly Willingham, and Pennsylvania State Rep. Mary Jo Daley contributed to this commentary.

Everybody agrees we have to fix our crumbling infrastructure. The problem is nobody knows how to pay for it. As Congress takes up the issue, we are urging them to join the growing legion of supporters of a new National Infrastructure Bank (NIB) and pass the necessary legislation this spring.

The need for such an institution was underscored yet again recently when the Society of Civil Engineers issued their quadrennial report card for the United States and graded the nation C-. The gap between what is currently funded and what is needed grew by another $259 billion. The country needs to spend nearly $5 trillion to bring our infrastructure to a state of good repair. Highlights of the report card include:

Read Full Op-Ed...

Cleveland City Council Emergency Resolution for the National Infrastructure Bank

websitebuilder@1and1.de — Thu, 08 Apr 2021 21:47:10 GMT

On April 5 2021, an Emergency Resolution was adopted by the City Council of Cleveland, Ohio endorsing HR 6422 and calling for the creation of a National Infrastructure Bank.

Some of the Resolution 218-2021 read as follows:

"WHEREAS, the infrastructure crisis in Ohio and Cleveland mirrors that of the country: on February 20, 2021, the Ohio chapter of the ASCE released its report card for 2021 and graded the state C-: roads, transit and levees were graded D and bridges C+; 17% of the public roads were graded in poor condition, and 1,457 bridges were graded structurally deficient; traffic congestion costs Ohio motorists an estimated $4.7 billion each year in lost time and wasted fuel; and

WHEREAS, in 2019, the ASCE report card gave Northeast Ohio (NEO) a D+: wastewater was graded D+ because much of the region’s wastewater infrastructure is aging and approximately 25 percent of the sewer pipes in NEO are over 80 years old, while 39% of NEO’s septic systems are considered failing; and WHEREAS, NEO energy was graded D in the report card because one-third of energy consumed in the region is generated outside the region and NEO’s aging distribution networks built prior to the 1960s require continuous care and improvement; and

WHEREAS, school buildings were also graded D in the report card: the Cleveland Section of the ASCE reported nearly half of the schools in the region have not undergone significant renovations over the past 40 years and, although 91 % of school buildings are designated to serve as emergency shelters, most do not have backup power systems and are not constructed to withstand natural disasters common to Ohio; and..."

National Infrastructure Bank Fills the Gap of the Biden Plan

websitebuilder@1and1.de — Sun, 04 Apr 2021 17:49:51 GMT

April 4, 2021- The Coalition for a National Infrastructure Bank released today an analysis of the President Biden's "American Jobs Plan", written by the Coalition's macroeconomist Alphecca Muttardy.

The article compares proposals of the American Society of Civil Engineers, the American Jobs Plan, and the National Infrastructure Bank.

Muttardy states : "The American Jobs Plan (AJP) makes a great start at rebuilding crumbling infrastructure, and re-authorizing infrastructure spending through the Federal Budget. However, even larger sums will be needed to cover ALL of our nation’s needs, which the American Society of Civil Engineers (ASCE) estimates will cost $6.1 trillion over ten years in seventeen infrastructure categories. After $3.5 trillion in committed Federal spending through the AJP, and state and local financing become available, a funding gap of $2.6 trillion will still remain...An adequately sized National Infrastructure Bank (NIB), meanwhile, could provide the $5 trillion to top up financing for public infrastructure without new Federal taxes or deficits. "

View the entire analysis here.

West Philadelphia Association Endorses National Infrastructure Bank

websitebuilder@1and1.de — Wed, 31 Mar 2021 22:50:20 GMT

WHEREAS; The West Philadelphia Corridor Collaborative is an independent partnership providing support to twelve commercial corridors through fourteen participating member business associations having a combined membership of over 2,000 independent small businesses and non-profit organizations.

WHEREAS, The President of the West Philadelphia Corridor Collaborative is empowered from time to time to endorse and support legislation that advances the shared goals of the business community of West Philadelphia.

WHEREAS; The Office of the President and the Government Committee of the West Philadelphia Corridor Collaborative have reviewed H.R. 6422 The National Infrastructure Bank and have recommended a favorable endorsement based on the following:

A. The 2018 Pennsylvania Infrastructure Report Card of the American Society of Civil Engineers (ASCE) gave the state of Pennsylvania a C- grade. Pennsylvania roads were graded D+, with a congestion costing the state $3.7 Billion annually in lost time and wasted fuel. Drinking water
received a D grade; 50% of Philadelphia’s water mains were installed prior to 1930 and 30% prior to 1900. Drinking water in the State of Pennsylvania had a funding gap of $10 Billion. Wastewater treatment was graded D-, and transit was graded D.

B. The Southeastern Pennsylvania Transport Authority (SEPTA) needs at least $5 Billion in capital

requirements and 20% of Pennsylvania’s bridges are graded structurally deficient. The fifteen most traveled structurally deficient bridges in the State are in Philadelphia....

Add Your Name to the Open Letter to Congress on the NIB

websitebuilder@1and1.de — Sat, 27 Mar 2021 22:53:00 GMT

Add Your Name and Share:

An Open Letter to Congress: A $5 Trillion National Infrastructure Bank to Build Back Best

(edited version)

Everybody agrees we have to fix our crumbling infrastructure. The problem is nobody knows how to pay for it. As Congress takes up the issue of financing infrastructure through the budget, we urge them to also create a new National Infrastructure Bank (NIB). This Bank will cover projects that the federal budget, and state and local governments, are not able to cover.

Congress will fund a certain amount of this through the budget. We support that. A new National Infrastructure Bank will finance the rest, approximately $5 trillion. This will include all the new 21st century projects such as: universal broadband, $1 trillion into High Speed Rail, the Hudson River Tunnels, and replacing the Brent-Spence Bridge.

As embodied in HR 6422, the National Infrastructure Bank will be capitalized with existing Treasury debt so it will require no new federal spending, and no new federal taxes. It will be capitalized at $500 billion and authorized to invest $5 trillion to fix all our infrastructure.

This bank is modeled on four previous institutions which built much of the infrastructure of the nation. The last one helped end the Great Depression and win WWII.

The National Infrastructure Bank will create 25 million new jobs, pay Davis-Bacon wages, and mandate Buy American provisions.

It will ensure the robust hiring of minority populations and disadvantaged business enterprises. It will supercharge our industry and small business.

It is appealing to both Republicans and Democrats because it requires no new Federal taxes or debt, creates millions of jobs and fixes what’s broken.

In summary, this legislation would address roads, bridges, and transit; electric grid, including cybersecurity; schools; dams, levees, waterways and ports; airports; rail; drinking water and wastewater systems; public parks and recreation facilities; and hazard and solid waste.

As stated in the legislation, “. . . expanded investment is needed in new manufacturing centers, affordable housing, broadband access, science and technology drivers, to accommodate population growth and migration, and for other improvements in rural, urban, and low-income areas that the private sector is not currently serving … “

The time to act is now. Delaying any longer will result in increased costs, as many projects will be beyond repair and require a full replacement.

Read the full letter with prominent signers here, and please add your name .

(released by the Coalition for a National Infrastructure Bank)

For more information please contact, info@nibcoalition.com

American Sustainable Business Council Supports Reintroduction of HR 6422

websitebuilder@1and1.de — Sun, 21 Mar 2021 16:09:05 GMT

From the ASBC website: "..the American Sustainable Business Council, representing more than 250,000 responsible businesses committed to the triple bottom line – People, Planet & Profits – is pleased to support the National Infrastructure Bank Coalition on reintroduction of H.R.6422, to improve our infrastructure while creating new well-paying jobs."

Open Letter to Congress: A $5 Trillion National Infrastructure Bank to Build Back Best

websitebuilder@1and1.de — Sat, 20 Mar 2021 21:48:02 GMT

For circulation and publication:

(released by the Coalition for a National Infrastructure Bank)

Open Letter to Congress: A $5 Trillion National Infrastructure Bank to Build Back Best

The need for such a bank was underscored yet again this month when the American Society of Civil Engineers issued their quadrennial Report Card for the United States and graded the nation C-. ASCE estimated that the gap between what is currently funded and what is needed over the next ten years has grown to $2.6 trillion. The country needs to spend nearly $6 trillion to bring our infrastructure to a state of good repair. Highlights of the Report Card include:

*There is a water main break every two minutes, and an estimated 6 billion gallons of treated water lost each day in the U.S., enough to fill over 9,000 swimming pools.

*Growing wear and tear on our nation's roads have left 43% of our public roadways in poor or mediocre condition, a number that has remained stagnant over the past several years.

*Currently, 42% of all bridges are at least 50 years old, and 46,154 are considered structurally deficient, meaning they are in “poor” condition, but still in use and waiting to collapse.

This bank is modeled on four previous institutions which built much of the infrastructure of the nation. The last one helped end the Great Depression and win WWII.

The National Infrastructure Bank will create 25 million new jobs, pay Davis-Bacon wages, and mandate Buy American provisions.

It will ensure the robust hiring of minority populations and disadvantaged business enterprises. It will supercharge our industry and small business.

It is appealing to both Republicans and Democrats because it requires no new Federal taxes or debt, creates millions of jobs and fixes what’s broken.

The time to act is now. Delaying any longer will result in increased costs, as many projects will be beyond repair and require a full replacement. Please join our campaign. Ask your member of Congress to help create a $5 trillion National Infrastructure Bank.

Signers:

Sen. Louis DiPalma, Chairman, Senate Committee on Rules, Government Ethics and Oversight; Middletown, RI

Rep. Lisa Sobecki, Ranking Democrat House Ways and Means Committee, Toledo, OH

Rep. Amy Perruso, Vice-Chair House Agriculture Committee, Wahiawa, HI

Rep. Shelly Willingham, Vice-Chairman, House Insurance Committee, Rocky Mount, NC

Asm. Robert Karabinchak, Chair, Special Committee on Infrastructure and Natural Resources, Edison, NJ

Rep. Joe Ciresi, Commerce Committee, Limerick, PA

Rep. Tavia Galonski, Ranking Democrat, Civil Justice Committee, Akron, OH

Asm. Felix Ortiz, former Assistant Speaker of the House (retired), Albany, NY

Mary Jane Shimsky, Majority Leader, Westchester Co. NY Board of Legislators

Patricia Riley, Peekskill City Councilwoman, Peekskill, NY

Catherine Borgia, District 9 Westchester Co. NY Board of Legislators

Anita Prizio, Allegheny County Councilwoman, O’Hara Township, PA

Rudy Arredondo, President, National Latino Farmers and Ranchers Trade Association, Washington, DC

Thomas Carey, President Westchester-Putnam Counties Central Labor Body, AFL-CIO, White Plains, NY

Mark Strand, President, Central New Mexico Central Labor Council, Albuquerque, NM

Steven Fenberg, Award-winning author, “Unprecedented Power: Jesse Jones: Capitalism, and the Common Good,” Houston, TX

Leonidas Murembya, PhD., Assistant Professor of Economics, Michigan State University, Lansing, MI

Ellen Brown, Founder, and Chair, Public Banking Institute, Los Angeles, CA

Jack Hanna, former Treasurer and Interim Chairman Pennsylvania Democratic Party, Portland OR

Alphecca Muttardy, Macroeconomist, former Senior Economist, International Monetary Fund, Fairfax, VA

Stanley Forczek, Infrastructure consultant, former executive Amtrak, Williamstown, NJ

Julie Olsen, Executive Committee, Alaska Democratic Party, Anchorage AK

Sandra J. Klassen, Virginia Democratic Party State Central Committee, Fairfax, VA

Robert Lynn, Organizer, and Political Director, United Association of Plumbers and Steamfitters (ret.), Toledo, OH

For more information please contact, info@nibcoalition.com

Support Grows in Georgia for National Infrastructure Bank

websitebuilder@1and1.de — Fri, 19 Mar 2021 01:56:38 GMT

In Georgia, action has been taken on two resolutions endorsing HR 6422 and supporting the creation of a National Infrastructure Bank. On March 3, the Executive Board of the Central Georgia Trades and Labor Council adopted a resolution endorsing the NIB, while in the past few days Senate Resolution 267 supporting the NIB was introduced into the Georgia Senate.

Both resolutions cite the infrastructure crisis in Georgia and nationwide: "Whereas, the state of Georgia received a C+ from the ASCE in 2019.

Transit was graded D+, Roads C+, Storm water C-, and Wastewater D+. Georgia's population is growing rapidly, and it needs new facilities. Half of all Georgians do not have access (to) public sewer service, and waste water needs total $2.7 billion; Georgia needs to increase rail and mass transit to move people and freight; Atlanta ranks #6 nationally in congestion (average cost per driver $1510 per year); new rail transportation--passenger and high speed—could be partially built in-state, retooling airplane factories to build rail parts and cars, as was done by Franklin Roosevelt in the retooling during WWII..."

Maine, North Carolina Take Action on NIB Endorsements

websitebuilder@1and1.de — Tue, 16 Mar 2021 19:03:39 GMT

Maine and North Carolina Legislatures Take Action for National Infrastructure Bank

On March 11 in Augusta, Maine the Legislature unanimously approved a joint resolution from Sen. David Miramant, D-Camden,

calling on the U.S. Congress to develop and fund a National Infrastructure Bank. SP 297, "Joint Resolution Memorializing The President Of The United States And The United States Congress To Establish A National Infrastructure Bank," was presented by Miramant in front of the full Senate Chamber. Local news coverage can be read here.

In North Carolina, Rep. Shelly Willingham introduced HR 266, which includes the following language: "Whereas, North Carolina has the 18th highest share of interstate bridges rated in poor or structurally deficient condition in the nation, and 21% of the State's interstate bridges are in need of repair or replacement. Over the next decade, the North Carolina Department of Transportation has funds available for 17% of the needed projects and new funds are projected to decline; the State needs $17-26 billion over the next 20 years to fund drinking water and wastewater systems; and North Carolina needs to build over 900,000 new affordable housing units. A new high-speed rail system from Atlanta to Washington, D.C., would transform travel in North Carolina".

Alabama House Resolution Supporting National Infrastructure Bank

websitebuilder@1and1.de — Tue, 09 Mar 2021 17:48:42 GMT

Alabama State Representative Tom Jackson, has introduced, with one co-sponsor, a resolution into the Alabama State House of Representatives, HJR 67 endorsing the creation of a National Infrastructure Bank.

Westchester County Board of Legislators Endorses NIB

websitebuilder@1and1.de — Mon, 08 Mar 2021 00:57:49 GMT

Pictured above are first sections of a resolution adopted on February 9, 2021 in White Plains, NY, by the local county council of Westchester County.

The full resolution can be downloaded from the endorsements page of our website.

IBEW Local 245 Resolution Urging Congress to Endorse and Adopt a National Infrastructure Bank

websitebuilder@1and1.de — Fri, 05 Mar 2021 19:14:12 GMT

Local 245 of the International Brotherhood of Electrical Workers, based in Toledo, Ohio, has adopted a resolution calling on the U.S. Congress to create a National Infrastructure Bank.

The resolution includes the following language: "Whereas, the impact of the coronavirus pandemic on peoples' lives and the economy has been devastating. At least 40 million people are unemployed and large numbers of businesses face bankruptcy or closing. This ongoing catastrophe has thrown the economy into recession or worse; and, ".

FirstRail International Supports National Infrastructure Bank

websitebuilder@1and1.de — Tue, 02 Mar 2021 16:52:38 GMT

FirstRail International, Ilc is pleased to support the establishment and development of the National Infrastructure Bank (NIB). This NIB is outlined within the Bill before the Congress — HR 6422. The timing is right, and the need is now to establish the National Infrastructure Bank. The bank will give the States and Local governments yet another tool to help us rebuild our transportation, communication and utility infrastructure. The uniqueness of the NIB Bill is that it creates no new debt but rather repurposes existing debt. Therefore, it requires no new federal spending and no new taxes.

Few will argue the need for infrastructure improvements. The question then becomes the best way to pay for these improvements? The NIB will bring private banking processes to the client, eliminating the bureaucratic time-consuming expensive grant processes now in place.

FirstRaiI International, llc strongly supports the NIB which I believe will improve the funding flow allowing the clients to improve and rebuild our infrastructure in a quicker more efficient manner.

Public Banking Institute Supports National Infrastructure Bank, HR 6422

websitebuilder@1and1.de — Mon, 01 Mar 2021 19:43:28 GMT

Listing HR 6422 (the National Banking Act of 2020) as supported federal legislation, the Public Banking Institute has publicly supported the drive for a National Infrastructure Bank.

Ellen Brown founded the Public Banking Institute in 2011, following her study of the Bank of North Dakota. She spoke to a recent webinar hosted by the Coalition for a National Infrastructure Bank, held on Presidents' Day, February 15, 2021.

The original article endorsing HR 6422 appeared in December 2020, on the blog Sheerpost.com. That was reprinted on Ellen Brown's blog, the Web of Debt.

From the post: "A self-funding national infrastructure bank modeled on the “American System” of Alexander Hamilton, Abraham Lincoln, and Franklin D. Roosevelt would help solve not one but two of the country’s biggest problems."

Peekskill Council (NY), Akron Bricklayers Support National Infrastructure Bank

websitebuilder@1and1.de — Fri, 26 Feb 2021 15:37:44 GMT

The City Council of Peeksill, located by the Hudson River in Westchester County has joined the growing number of cities endorsing the creation of a National Infrastructure Bank. Here is some of the language from that resolution, all of which can be downloaded from the Endorsements page on the NIB website.

"WHEREAS, repairing, replacing, and updating New York State's wastewater infrastructure would cost

$36.2 billion over 20 years; nearly half NY State's pipes were built prior to 1941. New York roads were

graded D- by ASCE and the combination of rough roads and congestion costs motorists a total of $6.3

billion statewide, over $500 per driver annually; and

WHEREAS, the aging Hudson River tunnels must be repaired and replaced and new tunnels built to

alleviate the rail congestion. 20% of the nation's Gross Domestic Product goes through the existing

tunnels on a daily basis and any shutdown would be catastrophic. The expected cost of this project is

$30 billion. The New York City subway system needs to be repaired and modernized. The cost of that

will be $50-$60 billion; and,

WHEREAS, the City of Peekskill, like all other urban areas in the Hudson Valley Region, faces

extraordinary costs for the replacement of aging infrastructure, including pipes for water, wastewater

and storm water, reservoir dams, recreation facilities, building roofs and HVAC units, pavement and

drainage systems, streetscape improvements and other capital projects to be funded in part through

debt; and..."

Bricklayers Local 7, which represents that local in the Akron, Ohio area, also joined the ranks of local unions endorsing the NIB. Their resolution highlights the Davis-Bacon wages and jobs provisions of the proposed banks.

Philadelphia Resolution Supporting National Infrastructure Bank Cites American Historical Precedents

websitebuilder@1and1.de — Tue, 23 Feb 2021 00:54:46 GMT

The City Council of Philadelphia has now adopted a resolution calling on the US Congress and the President to adopt HR 6422 and create a National Infrastructure Bank.

Resolution 210011, adopted by the full city council on February 4, 2021 points out the crisis of infrastructure, and also the " ..historic precedents for the National Infrastructure Bank ...in Philadelphia, including the First and Second Banks of the United States, which still reside in Independence National Historic Park.... Lincoln’s National Banking program turned Philadelphia into the 'Workshop of the World' , and Franklin Roosevelt’s Reconstruction Finance Corporation, his infrastructure bank, helped end the Great Depression and win WWII. The RFC built the landmark Pennsylvania Turnpike, among many other projects in Pennsylvania; and...'

Ohio: Bi-Partisan Support for National Infrastructure Bank Resolution

websitebuilder@1and1.de — Sat, 20 Feb 2021 19:07:43 GMT

Fourteen Ohio State Representatives have introduced H.R. 19 with the following purpose: "To urge the United States Congress to create a

National Infrastructure Bank to finance urgently needed infrastructure projects."

Furthermore, the resolution states: "...WHEREAS, The ASCE report card also gave the state of Ohio a low grade, and in 2019 it gave Northeast Ohio a D+. The state will need to invest at least thirteen billion dollars to upgrade the drinking water systems and fourteen billion dollars to upgrade waste water systems, more than six per cent of the state's bridges are rated structurally deficient, and driving on roads in poor repair costs each driver more than five hundred dollars per year; and WHEREAS, The impact of the coronavirus pandemic on the economy has been massive, with millions of people either temporarily or permanently out of work and shortages of hospital beds and equipment and machinery across all areas of the

economy..."

Longietti: National Infrastructure Bank a Good Investment

websitebuilder@1and1.de — Thu, 18 Feb 2021 19:23:17 GMT

Pa. state Rep. Mark Longietti participated in a Policy Committee Hearing on establishing a National Infrastructure Bank (NIB). A new NIB would create millions of family-sustaining jobs, use American products and return between $3 and $7 to our economy for every $1 invested.

Presidents’ Day Webinar Released

websitebuilder@1and1.de — Wed, 17 Feb 2021 22:38:51 GMT

Presidents’ Day Webinar

“National Infrastructure Bank:

Standing on the Shoulders of Giants”

February 15, 2021

Presidents George Washington, Abraham Lincoln and Franklin Roosevelt established national banks to confront the crises of their times. This President’s Day webinar explores their national banking programs and how President Joe Biden’s administration can stand on their shoulders to create a new national infrastructure bank to revitalize our nation and create 25 million jobs without increasing taxes or the federal debt.

Speakers:

Alphecca Muttardy, former Senior Economist IMF

Jack Hanna, Oregon Democratic Party state central committee; former treasurer and interim chairman of the Pennsylvania Democratic Party

Ellen Brown, J.D., Founder and Chair of the Public Banking Institute; author of twelve books, including Web of Debt and The Public Bank Solution; co-host of radio show program on PRN.FM, “It’s Our Money”

Carl Holland, South Carolina regional field director of the Bernie Sanders 2016 presidential campaign; U.S. Representative Barbara Lee staff member, 2013-15

Governor Roy Barnes, Esq., 80th Governor of State of Georgia; Awarded the Profile in Courage Award by the John F. Kennedy Library for his success while Governor of minimizing the Confederate battle emblem on the Georgia state Flag

Representative Kyle Mullins, Pennsylvania House of Representatives 112th District

Representative Lisa Sobecki, Ohio House of Representatives 45th District

Moderator: Robert Lynn, organizer of the United Association of Plumbers and Pipefitters Local 50, Ohio (ret)

Farm, Labor and Democratic Support for the NIB Grows

websitebuilder@1and1.de — Tue, 16 Feb 2021 22:56:14 GMT

In recent days, resolutions and letters of support have been received from Alaska Democrats, New Mexico Labor, and the National Latino Farmers and Ranchers Trade Association.

On February 6, the Alaska Democratic State Central Committee adopted a resolution in support of HR 6422, which includes the following: “Whereas, Alaska’s over 280 rural communities, many of which have no centralized water or wastewater system, received an ASCE grade of C in 2017. These communities need about $1.5 billion for water and wastewater systems. The Port of Alaska in Anchorage, which receives 85% of all consumer goods entering the state, is unable to adequately fund a needed modernization. The lack of a deep-water Arctic port is a barrier to providing necessary regional safety and security…”

The resolution was transmitted to the President and all members of the Alaska delegation in Washington, as well as other elected officials.

On February 5, the Central New Mexico Labor Council issued a letter to members of Congress, also urging the adoption of HR 6422. That letter stresses the dangerous condition of the power grid and transmission systems, as well as the devastation to the economy from the pandemic as amongst the reasons for adopting the National Infrastructure Bank.

Also relevant to New Mexico, the National Latino Farmers and Ranchers Trade Association, which has considerable support in New Mexico, issued a letter to the New Mexico state legislature, urging the adoption of State Senate Memorial 2. That bill calls upon the US Congress to support the National Infrastructure Bank.

Illinois, New Mexico, and Arizona Legislators Introduce Resolutions Calling on Congress to Adopt the National Infrastructure Bank

websitebuilder@1and1.de — Wed, 03 Feb 2021 17:41:59 GMT

Resolutions urging the US Congress to adopt a National Infrastructure Bank have been introduced in the Illinois House, the New Mexico Senate, and the Arizona Senate.

Representative Mary E. Flowers, whose resolution passed last year, has now introduced HR 20 into the 2021 legislative session. This resolution can be seen and downloaded here .

Senator Bill Tallman has introduced SM2, a memorial bill, into the New Mexico Senate. That bill can be seen and downloaded here .

Finally, State Senator Mendez of Arizona has introduced a resolution, SM1002, which calls for the re-instatement of Glass-Steagall, and the adoption of a National Infrastructure Bank. View that here.

South Carolina Introduces New Resolution on National Infrastructure Bank

websitebuilder@1and1.de — Fri, 22 Jan 2021 16:59:44 GMT

H. 3434 resolution was introduced into the South Carolina State House by Rep. Robert Williams on January 12, 2021 in support of the National Infrastructure Bank (NIB), and is now assigned to a committee. That resolution may be viewed and downloaded from here.

The resolutions that have been introduced and passed over the last couple of years by state legislatures, labor unions, and grassroots organizations have been the lifeblood of the Coalition, and have placed us in the extremely promising position that we are in today. To ensure that we get a new bill introduced into the U.S. Congress this session and that the new administration moves significantly in the first 100 days with this policy is now our primary focus. That means continuing to build the movement for the NIB and resolutions offer the most concrete proof of that process. Check the website for samples, either under endorsements or “ action .” Let’s make sure that the National Infrastructure Bank is created in 2021.

Virginia House of Delegates Members Begin Drive for 2021 National Infrastructure Bank Resolutions

websitebuilder@1and1.de — Thu, 14 Jan 2021 01:35:56 GMT

Delegates Elizabeth Guzman and Sam Rasoul have launched the opening salvo in the drive to introduce state legislative resolutions in support of the passage of a National Infrastructure Bank bill by the U.S. Congress. In 2020, the many resolutions that were introduced and passed by state legislatures, played a crucial role in enabling HR 6422 to be considered in the US Congress.

Two separate resolutions, House Resolution 225 and House Joint Resolution 550 are now before the Virginia House of Delegates.

Make 2021 the Year of the National Infrastructure Bank: DONATE TODAY

websitebuilder@1and1.de — Fri, 01 Jan 2021 20:13:10 GMT

The Coalition for the National Infrastructure Bank made great strides in 2020 in building a groundswell of support for the $4 Trillion National Infrastructure Bank. On March 31, 2020, our grassroots mobilization carried over into Washington DC, and we got a bill introduced into the U.S. Congress, H.R. 6422. Since then, activists from around the nation have generated resolutions of support for the legislation from state legislatures, labor unions and grassroots organizations. Simultaneously, we kicked off a series of national webinars beginning at the Democratic Convention. As a result, we are uniquely positioned to have a major impact in the new administration. In the past two weeks, we have had two official meetings with the Biden Transition Team and more behind the scenes. In December, the Coalition received official status as a 501 (c) (4) with the IRS. We are beginning the New Year by sponsoring two webinars and we will have more to follow. This intervention is crucial to ensure that President Joe Biden’s first 100 days moves in a positive direction. We need your support to make all this happen and to make this the best possible New Year ever!

2021: National Infrastructure Bank Resolutions for the New Year

websitebuilder@1and1.de — Wed, 30 Dec 2020 01:48:37 GMT

As the New Year is fast approaching, it’s time to start thinking about resolutions in support of the National Infrastructure Bank (NIB). The resolutions that have been introduced and passed over the last couple of years by state legislatures, labor unions, and grassroots organizations have been the life-blood of the Coalition, and have placed us in the extremely lucrative position that we are today. Ensuring that the new administration moves significantly in the first 100 days with our policy is of utmost concern, and that means continuing to build the movement for the NIB. Resolutions offer the most concrete proof of that process. Check the website for samples, either under endorsements or “ action .” Let’s make sure that these New Year’s resolutions actually succeed, and that the National Infrastructure Bank is created in 2021.

Ellen Brown: Tackling the Infrastructure and Unemployment Crises

Sat, 26 Dec 2020 17:00:15 GMT

Photo by Nick Fewings on Unsplash

The “American System” Solution

Millions of Americans have joined the ranks of the unemployed, and government relief checks and savings are running out; meanwhile, the country still needs trillions of dollars in infrastructure. Putting the unemployed to work on those infrastructure projects seems an obvious solution, especially given that the $600 or $700 stimulus checks Congress is planning on issuing will do little to address the growing crisis.

Various plans for solving the infrastructure crisis involving public-private partnerships have been proposed, but they’ll invariably result in private investors reaping the profits while the public bears the costs and liabilities. We have relied for too long on private, often global, capital, while the Chinese run circles around us building infrastructure with credit simply created on the books of their government-owned banks.

Earlier publicly-owned U.S. national banks and U.S. Treasuries pulled off similar feats, using what Sen. Henry Clay, U.S. statesman from 1806 to 1852, named the “American System-funding national production simply with “sovereign” money and credit. They included the First (1791-1811) and Second (1816-1836) Banks of the United States, President Lincoln’s federal treasury and banking system, and President Franklin Roosevelt’s Reconstruction Finance Corporation (RFC) (1932-1957). Chester Morrill, former Secretary of the Board of Governors of the Federal Reserve, wrote of the RFC :

"[I]t became apparent almost immediately, to many Congressmen and Senators, that here was a device which would enable them to provide for activities that they favored for which government funds would be required, but without any apparent increase in appropriations . . . . [T]here need be no more appropriations and its activities could be enlarged indefinitely, as they were, almost to fantastic proportions. [emphasis added ]"

Even the Federal Reserve with its “quantitative easing” cannot fund infrastructure without driving up federal expenditures or debt, at least without changes to the Federal Reserve Act. The Fed is not allowed to spend money directly into the economy or to lend directly to Congress. It must go through the private banking system and its “primary dealers.” The Fed can create and pay only with “reserves” credited to the reserve accounts of banks. These reserves are a completely separate system from the deposits circulating in the real producer/consumer economy; and those deposits are chiefly created by banks when they make loans. (See the Bank of England’s 2014 quarterly report here .) New liquidity gets into the real economy when banks make loans to local businesses and individuals; and in risky environments like that today, banks are not lending adequately even with massive reserves on their books.

A publicly-owned national infrastructure bank, on the other hand, would be mandated to lend into the real economy; and if the loans were of the “self funding” sort characterizing most infrastructure projects (generating fees to pay off the loans), they would be repaid, canceling out the debt by which the money was created. That is how China built 12,000 miles of high-speed rail in a decade: credit created on the books of government-owned banks was advanced to pay for workers and materials, and the loans were repaid with profits from passenger fees.

Unlike the QE pumped into financial markets, which creates asset bubbles in stocks and housing, this sort of public credit mechanism is not inflationary. Credit money advanced for productive purposes balances the circulating money supply with new goods and services in the real economy. Supply and demand rise together, keeping prices stable. China increased its money supply by nearly 1800% over 24 years (from 1996 to 2020) without driving up price inflation , by increasing GDP in step with the money supply.

HR 6422, The National Infrastructure Bank Act of 2020

A promising new bill for a national infrastructure bank modeled on the RFC and the American System, H.R. 6422 , was filed by Rep. Danny Davis, D-Ill., in March.(1) The National Infrastructure Bank of 2020 (NIB) is projected to create $4 trillion or more in bank credit money to rebuild the nation’s rusting bridges, roads, and power grid; relieve traffic congestion; and provide clean air and water, new schools and affordable housing. It will do this while generating up to 25 million union jobs paying union-level wages. The bill projects a net profit to the government of $80 billion per year, which can be used to cover infrastructure needs that are not self-funding (broken pipes, aging sewers, potholes in roads, etc.). The bill also provides for substantial investment in “disadvantage communities,” those defined by persistent poverty.

The NIB is designed to be a true depository bank, giving it the perks of those institutions for leverage and liquidity, including the ability to borrow at the Fed’s discount window without penalty at 0.25% interest (almost interest-free). According to Alphecca Muttardy , a former macroeconomist for the International Monetary Fund and chief economist on the 2020 NIB team, the NIB will create the $4 trillion it lends simply as deposits on its books, as the Bank of England attests all depository banks do. For liquidity to cover withdrawals, the NIB can either borrow from the Fed at 0.25% or issue and sell bonds.

Modeled on its American System predecessors, the NIB will be capitalized with existing federal government debt. According to the summary on the NIB Coalition website :

"The NIB would be capitalized by purchasing up to $500 billion in existing Treasury bonds held by the private sector (e.g., in pension and other savings funds), in exchange for an equivalent in shares of preferred [non-voting] stock in the NIB. The exchange would take place via a sales contract with the NIB/Federal Government that guarantees a preferred stock dividend of 2% more than private-holders currently earn on their Treasuries. The contract would form a binding obligation to provide the incremental 2%, or about $10billion per year, from the Budget. While temporarily appearing as mandatory spending under the Budget, the $10 billion per year would ultimately be returned as a dividend paid to government, from the NIB’s earnings stream."

Since the federal government will be paying the interest on the bonds, the NIB needs to come up with only the 2% dividend to entice investors. The proposal is to make infrastructure loans at a very modest 2%, substantially lower than the rates now available to the state and local governments that create most of the nation’s infrastructure. At a 10% capital requirement, the bonds can capitalize ten times their value in loans. The return will thus be 20% on a 2% dividend outlay from the NIB, for a net return on investment of 18% less operating costs. The U.S. Treasury will also be asked to deposit Treasury bonds with the bank as an “on-call” subscriber.

The American System: Sovereign Money and Credit

U.S. precedents for funding internal improvements with “sovereign credit” - credit issued by the national government rather than borrowed from the private banking system - go back to the American colonists’ paper scrip , colonial Pennsylvania’s “ land bank ”, and the First U.S. Bank of Alexander Hamilton, the first U.S. Treasury Secretary. Hamilton proposed to achieve the constitutional ideal of “promoting the general welfare” by nurturing the country’s fledgling industries with federal subsidies for roads, canals, and other internal improvements; protective measures such as tariffs; and easy credit provided through a national bank. Production and the money to finance it would all be kept “in house,” without incurring debt to foreign financiers. The national bank would promote a single currency, making trade easier, and would issue loans in the form of “sovereign credit.”

Senator Henry Clay called this model the “American System” to distinguish it from the “British System” that left the market to the “invisible hand” of “free trade,” allowing big monopolies to gobble up small entrepreneurs, and foreign bankers and industrialists to exploit the country’s labor and materials. After the charter for the First US Bank expired in 1811, Congress created the Second Bank of the United States in 1816 on the American System model.

In 1836, Pres. Andrew Jackson shut down the Second U.S. Bank due to perceived corruption, leaving the country with no national currency and precipitating a recession. “Wildcat” banks issued their own banknotes - promissory notes allegedly backed by gold. But the banks often lacked the gold necessary to redeem the notes, and the era was beset with bank runs and banking crises.

Abraham Lincoln’s economic advisor was Henry Carey , the son of Matthew Carey, a well-known printer and publisher who had been tutored by Benjamin Franklin and had tutored Henry Clay. Henry Carey proposed creating an independent national currency that was non-exportable, one that would remain at home to do the country’s own work. He advocated a currency founded on “national credit,” something he de?ned as “a national system based entirely on the credit of the government with the people, not liable to interference from abroad.” It would simply be a paper unit of account that tallied work performed and goods delivered.

On that model, in 1862 Abraham Lincoln issued U.S. Notes or Greenbacks directly from the U.S. Treasury, allowing Lincoln’s government not only to avoid an exorbitant debt to British bankers and win the Civil War, but to fund major economic development, including tying the country together with the transcontinental railroad - an investment that actually turned a profit for the government.

After Lincoln was assassinated in 1865, the Greenback program was discontinued; but Lincoln’s government also passed the National Bank Act of 1863, supplemented by the National Bank Act of 1864. Originally known as the National Currency Act , its stated purpose was to stabilize the banking system by eradicating the problem of notes issued by multiple banks circulating at the same time. A single banker-issued national currency was created 4/6 through chartered national banks, which could issue notes backed by the U.S. Treasury in a quantity proportional to the bank’s level of capital (cash and federal bonds) deposited with the Comptroller of the Currency.

From Roosevelt’s Reconstruction Finance Corporation (1932-57) to HR 6422

The American president dealing with an economic situation most closely resembling that today, however, was Franklin D. Roosevelt. America’s 32nd president resolved massive unemployment and infrastructure problems by greatly expanding the Reconstruction Finance Corporation (RFC) set up by his predecessor Herbert Hoover. The RFC was a remarkable publicly-owned credit machine that allowed the government to finance the New Deal and World War II without turning to Congress or the taxpayers for appropriations. The RFC was not called an infrastructure bank and was not even a bank, but it served the same basic functions. It was continually enlarged and modified by Pres. Roosevelt to meet the crisis of the times until it became America’s largest corporation and the world’s largest financial organization. Its semi-independent status let it work quickly, allowing New Deal agencies to be financed as the need arose. According to Encyclopedia.com:

"[T]he RFC—by far the most influential of New Deal agencies—was an institution designed to save capitalism from the ravages of the Great Depression . Through the RFC, Roosevelt and the New Deal handed over $10 billion to tens of thousands of private businesses, keeping them afloat when they would otherwise have gone under…."

A similar arrangement could save local economies from the ravages of the global shutdowns today.

The Banking Acts of 1932 provided the RFC with capital stock of $500 million and the authority to extend credit up to $1.5 billion (subsequently increased several times). The initial capital came from a stock sale to the U.S. Treasury. With those modest resources, from 1932 to 1957 the RFC loaned or invested more than $40 billion. A small part of this came from its initial capitalization. The rest was financed with bonds sold to the Treasury, some of which were then sold to the public. The RFC ended up borrowing a total of $51.3 billion from the Treasury and $3.1 billion from the public.

Thus the Treasury was the lender, not the borrower, in this arrangement. As the self-funding loans were repaid, so were the bonds that were sold to the Treasury, leaving the RFC with a net profit. The RFC was the lender for thousands of infrastructure and small business projects that revitalized the economy, and these loans produced a total net income of over $690 million on the RFC’s “normal” lending functions (omitting such things as extraordinary grants for wartime). The RFC financed roads, bridges, dams, post offices, universities, electrical power, mortgages, farms, and much more-all while generating income for the government.

HR 6422 proposes to mimic this feat. The National Infrastructure Bank of 2020 can rebuild crumbling infrastructure across America, pushing up long-term growth, not only without driving up taxes or the federal debt, but without hyperinflating the money supply or generating financial asset bubbles. The NIB has growing support across the country from labor leaders, elected officials, and grassroots organizations. It can generate real wealth in the form of upgraded infrastructure and increased employment as well as federal and local taxes and GDP, paying for itself several times over without additional outlays from the federal government.

With official unemployment at nearly double what it was a year ago and an economic crisis unlike the U.S. has seen in nearly a century, the NIB can trigger the sort of “economic miracle” the country desperately needs.

Ellen Brown

Web of Debt

Reprinted with permission. Originally appeared on LA Progressive

(1) (Added with author's permission:)A promising new bill for a national infrastructure bank modeled on the RFC and the American System, H.R. 6422, was filed by Rep. Danny Davis, D-Ill., in March. The National Infrastructure Bank of 2020 (NIB) is projected to create $4 trillion or more in bank credit money to rebuild the nation’s rusting bridges, roads, and power grid; relieve traffic congestion; and provide clean air and water, new schools, high speed rail, and affordable housing. It will do this while generating up to 25 million union jobs paying union-level wages. The bill would provide flexible, lowest-cost financing to states and local governments, which can be used to cover infrastructure needs that are not self-funding (highways, bridges, local roads, and schools, etc.). The bill also provides for substantial investment in “disadvantaged communities,” those defined by persistent poverty.

Ellen Brown

NIB Coalition Receives 501(c)(4) Status... Just In Time for the Holidays

websitebuilder@1and1.de — Thu, 17 Dec 2020 16:21:12 GMT

We are happy to report that the Coalition for a National Infrastructure Bank is now officially

registered with the IRS as a 501(c)(4), tax-exempt non-profit. Just in time for the holidays!

This gives the Coalition a legal status, and also allows us to raise money to pay for increased activity. Webinars, ongoing zoom calls, promotions, brochures, book mailings, printing, and phone work all come at a price.

The Coalition has made great strides in getting HR 6422 introduced into Congress, and we are now in a direct dialogue with the incoming new administration at many levels. We are already planning more webinars starting in early January. As of now, our legislation is the only program large enough to address the gigantic economic crisis which engulfs the nation.

Please consider donating to our effort. (The Donate tab is a top menu item on the home page of www.nibcoalition.com.)

Thanks for all of your help, political and monetary.

Happy Holidays to all! Looking forward to an ambitious New Year.

NIB's Economist Alphecca Muttardy to Participate in December 7 Water Infrastructure Webinar

websitebuilder@1and1.de — Wed, 02 Dec 2020 16:44:46 GMT

What’s one big issue all Americans agree on? The need to fix our nation’s badly deteriorated infrastructure! In 2021, progress on this vital issue may finally get some long-postponed attention, so learn more on Dec. 7 at 3 p.m. Eastern in a special webinar, “Financing America’s Water Solutions,” hosted by the American Sustainable Business Council (ASBC) and the Coalition for a National Infrastructure Bank (NIB).

What’s a solution? One legislative proposal, the National Infrastructure Bank (NIB), would address the long overdue investment in America’s infrastructure, mitigate the consequences of the current economic crisis and restore basic quality of essential services to vulnerable communities. The NIB would utilize standard banking strategies to finance up to $4 trillion in public infrastructure loans without increasing federal debt or creating new taxes, while creating 25 million well-paying jobs and appropriate training.

Date: December 7, 2020

Time: 3pm (ET)

Registration Information

Lucas County OH Endorses NIB

websitebuilder@1and1.de — Mon, 30 Nov 2020 01:24:23 GMT

Date: November 17, 2020 Resolution No. 20-869

Title: Urging the U. S. Congress to Pass H.R. 6422- National Infrastructure Bank Act of 2020, Creating a National Infrastructure Bank to Finance Urgently Needed Infrastructure Projects

Department/Agency: Commissioners

Contact: Benjamin Pushka, Executive Assistant to Commissioner Tina Skeldon Wozniak

Summary/Background: The American Society of Civil Engineers (ASCE) gave the United States a cumulative grade of D+ across 16 categories in its 2017 Report Card regarding the current state of the country's infrastructure and estimated that more than $4.5 trillion is needed to bring the current infrastructure to a state of good repair. Public spending on infrastructure has dropped by 8 percent over the past 15 years.

The ASCE Report Card also gave Ohio a low grade for the current state of its infrastructure and estimates Ohio will need to invest at least $12 billion dollars to upgrade drinking water systems and $14 billion to upgrade wastewater systems. The ASCE report indicates that nearly 7 percent of the state's bridges are rated structurally deficient. Driving on roads in poor repair costs each driver $545 annually.

The ongoing coronavirus pandemic has severely impacted the economy, causing millions of people to be temporarily or permanently unemployed creating shortages of hospital beds, equipment, and machinery across all sectors of the national economy. A new National Infrastructure Bank (NIB) would provide direct loans and other financing of up to $4 million for qualifying infrastructure projects in all parts of the country, including health care infrastructure needed to address the current public health emergency.

Budget Impact: None

Statutory Authority/ORC: N/A

Commissioner Byers offered the following resolution:

WHEREAS, in consideration of the above, NOW, THEREFORE BE IT RESOLVED by the Board of County Commissioners, Lucas County, Ohio, that:

Section 1. The Board strongly urges the U.S. Congress to Pass H.R. 6422- National Infrastructure Bank Act of 2020, creating a National Infrastructure Bank to finance urgently needed infrastructure projects.

Section 2_ This Board finds and determines that all formal actions of this Board concerning and relating to the adoption of this resolution were taken in an open meeting of this Board and that all deliberations of this Board that resulted in those formal actions were in meeting open to the public in compliance with the law.

November 17, 2020

Urging the U. S. Congress to Pass H.R. 6422- National Infrastructure Bank Act of 2020, Creating a National Infrastructure Bank to Finance Urgently Needed Infrastructure Projects

Section 3. This resolution shall be in full force and effect from and immediately upon its adoption. Action Taken:

Commissioner Byers voted yes

Commissioner Gerken voted yes

Commissioner Skeldon Wozniak voted yes

Jody L. Balogh, Clerk

Councilwoman Prizio Address to the November 19 NIB Coalition Webinar

websitebuilder@1and1.de — Mon, 23 Nov 2020 02:24:56 GMT

Anita Prizio Presentation at Build Back Best, November 19, 2020

Greetings from Pittsburgh, Pennsylvania. I am a member of Allegheny County Council, it is an honor and a privilege to participate on this panel. Western PA, home of the Steelers and steel making, is primed to build back best. Although meds and eds have become an important part of our local economy, steel runs through our veins and the prospect of creating family sustaining jobs as foreshadowed by the Keystone East-West High-Speed Rail Study is exciting.

I’ve been hearing from my constituents and local elected state officials how long it takes to travel from Pittsburgh to Harrisburg and from Pittsburgh to New York. Not only does it take an inordinate of time, but the trips are limited to once a day.

Now, Keystone East offers high speed, electrified passenger rail service from Harrisburg to Philadelphia. Granted the infrastructure is older than the infrastructure between Philadelphia and Harrisburg, but why should we be left behind? If service was enhanced, I’m sure ridership would go up, who does not want to visit our exceptional city.

Just think of the regional economic development that could be spurred by improving the connection between Pittsburgh and other parts of the state and all the jobs improving, aligning and straightening the curves of our challenging topography. Less cars on the turnpike will improve the air quality. We should prioritize moving people in the least environmentally damaging way possible. Increasing services between Harrisburg and Pittsburgh would increase opportunities for employment, expand travel options for students and residents in rural areas, and increase options to explore Pennsylvania tourist destinations. This is a wonderful opportunity for the National Infrastructures Bank to help build back better and increase economic impact for every industry, community and Pennsylvanian resident.

In addition to rail, a 2018 study conducted by 24/7 Wall Street that ranked the country’s infrastructure and identified the most distressed states. In order, the top five are:

1. Rhode Island

2. Hawaii

3. West Virginia

4. Pennsylvania

5. California

The analysis took into consideration the number of bridges, roads and dams that are in a “state of despair or potentially hazardous.” Pennsylvania ranked fourth overall due to a combination of poor roads, deficient bridges and dams at a high hazard risk. The commonwealth was among the top 15 worst states in each infrastructure category.

Here are some specific projects that my district needs:

• High quality affordable broadband is foundational for the growth of the Western Pa. Businesses, schools, health care institutions require broadband. Universal broadband is also necessary for a modernized electric grid, often referred to as a smart grid, thus making our electric system more secure, resilient and less subject to catastrophic failures.

• The global pandemic has laid bare the problems in our supply chain for PPE, medical devices and pharmaceuticals. If we are serious to have these companies reshore their factories here, we have to provide the proper transportation infrastructure (modern rails system) and skilled workers or they will not find the move in their best interest. Reliable broadband is also essential for technologies, AI, Robotics, 3-D printing, IoT and additive manufacturing.

• COVID has wreaked havoc with the Allegheny County Budget including the Port Authority's budget. Ridership revenue is down, so unfortunately, plans for more electric buses and mass transit development has been put on hold. Such projects however could be put back on the table with an infrastructure bank. $750 million extension of the MLK Jr. East Busway to Monroeville and $1.03 billion extension of the West Busway to the airport are existing unfunded projects.

• Our aging housing stock, public buildings, and old water pipelines also threaten our drinking water. Leakage of lead into our drinking water is creating a public health problem in communities across the Commonwealth. Pennsylvania is ranked among those states with some of the highest risk for lead-contaminated water. Lead in the water can have devastating impacts on young children.

• Sewage and Stormwater - Pennsylvania has the most combined sewage overflows in the country. In Southwest Pennsylvania, more than 800 public authorities, municipalities, and private companies make up this fragmented system. The region suffers from numerous water and sewer issues, including severe flooding exacerbated by suburban development, aging infrastructure, and climate change. As a whole, the system has fallen significantly out of compliance with federal laws but lacks the necessary funding to address these concerns. Upgrading it requires billions of dollars in investments, many of which are legally mandated under environmental regulations and consent orders. With tightening budgets, local authorities have been forced to prioritize existing projects and defer much-needed maintenance. Together, these factors have produced one of the most complex infrastructure challenges facing the region today.

Mayor Peduto recently proposed a Marshall Plan for Middle America. Due to the effects of COVID and the downturn of the economy, funding of this ambitious bill is challenging, both the County and the City are experiencing a revenue loss. Thus an infrastructure bank could be one of the funding mechanisms. Middle American communities have shared needs and challenges in facing the crisis of aging infrastructure, economic obsolescence, ineffective public policy and the need for up-skilling and re-skilling of the workforce.

There is an ancient Greek proverb, “A society grows great when old people plant trees whose shade they know they shall never sit in.” It is only through an adequately-sized national infrastructure bank- a bank that could provide direct loans and financing for infrastructure projects to be enjoyed by our children and grandchildren.

Therefore, I strongly endorse HR 6422 to create a $5 trillion National Infrastructure Bank to finance projects in my district, and all of America.

Thank you.

Western Reserve (OH) Building Trades Endorse H.R.6422

websitebuilder@1and1.de — Sun, 15 Nov 2020 21:48:56 GMT

November 12, 2020

US House of Representatives Washington DC 20515

RE: HR6422

Dear Congressional Representatives:

On behalf of the hard-working women and men of the Western Reserve Building and Construction Trades Council, we call upon the members of the Ohio delegation to Congress to support House Resolution 6422, "The National Infrastructure Bank Act of 2020".

We are in an economic and healthcare crisis unlike anything in our lifetimes. Not only is our infrastructure crumbling, but we have thousands of Americans who have lost their jobs. Congress is searching for ways to finance a recovery, and we believe that a new National Infrastructure Bank is one crucial tool in that tool box. That is why we are urging Congress to pass BR 6422. This Bill would help jump-start the economy and job creation, which is much needed especially now due to the impact of the coronavirus.

This Infrastructure Bank would be capitalized without any additional federal debt or new taxes, and would be

authorized to invest at least $4 trillion in infrastructure projects only. It would repair and upgrade roads, bridges, schools, and dams, and construct rail and high-speed rail lines. It would tackle everything from water projects to broadband.

It is estimated that the Bank would create twenty-five million new jobs. The Resolution requires payment of Davis-Bacon wages, Project Labor Agreements, and includes "Buy American" provisions. The economy would grow at an estimated 4-5% per year.

Many organizations have endorsed this policy including the National Association of Counties, the Virginia State AFL-CIO, the Virginia Building and Construction Trades Council, United Association of Plumbers and

Pipefitters Local 50 in Ohio, CWA Local 4319 in Ohio, the Hudson Valley NY Building Trades Council, the Westchester-Putnam Counties, NY AFL CIO, the National Federation of Federal Employees, and the Akron City Council. In addition, the Ohio House of Representatives has introduced HR348 in support of this Congressional Resolution.

The Western Reserve Building and Construction Trades Council also endorses House Resolution 6422, and we urge our members of Congress to support this bill. Thank you.

In Solidarity,

Martin E. Loney, President

Antonio DiTommaso, Jr., Financial Secretary

Toledo, Ohio Endorses National Infrastructure Bank

websitebuilder@1and1.de — Sun, 15 Nov 2020 21:41:22 GMT

Endorsing United States House of Representatives (HR) Bill 6422 entitled National Infrastructure Bank Act of 2020 and urging the United States Senate and House of Representatives to enact the same.

WHEREAS, there is a widely acknowledged shortfall in infrastructure spending in the nation: the

American Society of Civil Engineers (ASCE) gave the country a D+ in its 2017 Report Card and estimates the nation must spend at least $4.6 trillion to bring current infrastructure to a state of good repair. At least $2.1 trillion is unfunded, and the remainder is inadequately funded. Funding for new projects, including broadband, water projects, rail and High Speed rail are unfunded; and

WHEREAS, the impact of the coronavirus pandemic on peoples' lives and the economy has been

devastating. At least 26 million people are unemployed and large numbers of businesses face bankruptcy or closing. This ongoing catastrophe has thrown the economy into recession or worse; and

WHEREAS, a new National Infrastructure Bank (NIB) could directly aid in fostering an economic recovery and build the infrastructure projects we have neglected. Legislation to create such a bank has been introduced into Congress this spring, HR 6422. The new NIB is modeled on four previous institutions created by Presidents George Washington, John Quincy Adams, Abraham Lincoln, and Franklin D. Roosevelt, which helped spur massive economic growth; and

WHEREAS, the new National Infrastructure Bank would be able to lend $4 trillion for urgently needed projects. The NIB would be capitalized by repurposing existing Treasury debt and create no new federal debt. It would create 25 million new jobs, pay Davis-Bacon wages, and help hire those made jobless by the coronavirus pandemic. It would also require Project Labor Agreements and Buy American provisions for all projects; and

WHEREAS, the National Infrastructure Bank would increase growth from 1.8% per year to 5% per

year, require no new taxes, and would increase tax revenues coming into state, local and federal governments, fostering the kind of growth not seen since the Kennedy Space Program; and

WHEREAS, National Infrastructure Bank funding could be used for local critical infrastructure needs such communications systems that support emergency operations, parks, roads and transportation projects including the proposed Toledo-Monroe-Detroit-Ann Arbor High Speed Rail (HSR) and Transit Oriented

Regional Economic Development Project, and schools; and

WHEREAS, many organizations have endorsed the new National Infrastructure Bank. 17 state

legislatures have introduced or passed bi-partisan resolutions in support of the new bank, as have city and

county councils. The National Association of Counties has endorsed the new bank. Other endorsements include the National Latino Farmers and Ranchers, the National Congress of Black Women, the National Federation of Federal Employees, the Democratic Municipal Officials, and many others. HR 6422 has been introduced into Congress to create the new National Infrastructure Bank;

NOW, THEREFORE,

Be it resolved by the Council of the City of Toledo:

SECTION 1. That the Council endorses FIR 6422 - National Infrastructure Bank Act of 2020 and urges the United States Senate and House of Representatives to enact the same.

SECTION 2. That the Clerk of the Council is hereby directed to send a copy of this Resolution to

United States Senators Sherrod Brown and Rob Portman, and United States Representatives Marcy Kaptur and Bob Latta.

SECTION 3. That this Resolution shall take effect and be in force from and after the earliest period allowed by law.

Council Members Delaney and Moline

Reconstruction Finance Corporation and World War II Mobilization Presented In NIB Coalition Veterans Day Webinar

websitebuilder@1and1.de — Thu, 12 Nov 2020 20:50:28 GMT

In honor of Veterans Day, November 11, 2020, the Coalition for a National Infrastructure Bank sponsored a webinar on the parallel between the WWII industrial mobilization and the need for an equally robust effort to repair and modernize the infrastructure and industry of the U.S. economy today. It highlighted the crucial role played by the Reconstruction Finance Corporation in helping to finance much of the effort in concert with other government agencies and the U.S. Congress.

Speakers were: Steven Fenberg, Author, "Unprecedented Power: Jesse Jones, Capitalism, and the Common Good,”; Alphecca Muttardy, Macroeconomist; Robert Lynn, Organizer, UA Local 50 (ret), Toledo, Ohio; Jack Hanna, former Treasurer and Interim Chairman, Pennsylvania State Democratic Party. (Moderator)

US High Speed Rail Association Endorses National Infrastructure Bank Act of 2020

websitebuilder@1and1.de — Sun, 01 Nov 2020 19:25:11 GMT

October 1, 2020

The US High Speed Rail Association is proud to endorse HR 6422, the National Infrastructure Bank of 2020, to fund and expedite the modernization of our neglected infrastructure across the nation. With trillions of dollars of urgent needs just to keep the nation operating, and trillions more to modernize with 21st century infrastructure, the Infrastructure Bank is the best way to quickly rebuild America. By pooling public and private funding, and planning comprehensive, multi-disciplinary, multi-sector projects, the bank can be a force for good in efficiently and quickly solving many of the nation’s major problems.

High speed rail is one of the major projects of the National Infrastructure Bank because of its ability to solve multi-sector problems simultaneously and carry America into the 21st century. High speed rail reduces carbon, congestion, costs, accidents, and energy consumption all at the same time.

Building a national HSR network across America will:

• Create millions of jobs across multiple sectors (manufacturing, construction, development, etc.)

• Create more than $100 Billion in real estate opportunities at each station, launching a national boom • Create a whole new high-capacity, fast transportation system free from congestion

• Reduce congestion on our highways and runways

• Better connect the economies of our cities large and small • Stimulate tourism and travel nationwide

• Cut our foreign trade deficit by hundreds of billions (from purchasing foreign oil)

• Create the first business-friendly form of transportation encouraging ease of travel, fast boarding, no

security lines, comfortable and spacious work spaces, and reliable schedules

The support for high speed rail is broad with more than 78% of Americans supporting investment in a national system. It has broad support across the investment community, the real estate development industry, the business community, the travel industry, the construction industry, and the environmental community.

We advocate for building high speed rail in metro regions across America as quickly as possible and support the launch of the National Infrastructure Bank to help expedite this along with the other infrastructure needs of the country - to make America prosperous, modern, and sustainable.

Sincerely,

Andy Kunz

President & CEO

US High Speed Rail Association

US High Speed Rail Association, 10 G St. NE, Suite 600, Washington, DC 20002 www.ushsr.com

Westchester and Putnam Counties (NY) Building Trades Council Endorse NIB

websitebuilder@1and1.de — Sun, 01 Nov 2020 18:56:34 GMT

BUILDING AND CONSTRUCTION TRADES COUNCIL

OF WESTCHESTER AND PUTNAM COUNTIES, NEW YORK

Affiliated with the AFL-CIO

1360 Pleasantville Road

Briarcliff Manor, New York 10510

Phone 914-762-2492 Fax 914-762-2542

Edward Doyle - President

Jeff Loughlin - Vice President

Dario Boccarossa - Secretary and Financial Secretary

RESOLUTION

BY COUNCIL PRESIDENT EDWARD DOYLE AND THE BUILDING AND CONSTRUCTION TRADES COUNCIL OF WESTCHESTER AND PUTNAM COUNTIES, NY:

WHEREAS, the United States Congress has introduced HR 6422, The National Infrastructure Act of 2020, which creates a $4 trillion National Infrastructure Bank. This bank will create 25 million new jobs in infrastructure only, pay Davis-Bacon wages, mandate Project Labor Agreements and Buy American programs; and,

WHEREAS, at a recent General Membership Meeting of the Building and Construction Trades Council on October 22, 2020, the matter of the work of the Coalition for the National Infrastructure Bank was discussed and it was voted to endorse the National Infrastructure Bank Act of 2020, HR 6422.

BUILDING AND CONSTRUCTION TRADES COUNCIL OF WESTCHESTER

AND PUTNAM COUNTIES, NY

BY:______________________________

EDWARD DOYLE, PRESIDENT

Georgia Machinists Endorse National Infrastructure Bank

websitebuilder@1and1.de — Wed, 21 Oct 2020 20:29:03 GMT

Resolution in Support of National Infrastructure Bank

Whereas , The American Society of Civil Engineers (ASCE) stated in its 2017 report card that the United States received a grade of D+ regarding the current state of infrastructure and that more than four and a half 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 and the remainder is inadequately funded. New, 21st Century projects are unfunded; and,

Whereas , the state of Georgia received a C+ from the ASCE in 2019. Transit was graded D+, Roads C+, Storm water C-, and Wastewater D+. Georgia’s population is growing rapidly, and it needs new facilities. Half of all Georgians do not have access public sewer service, and waste water needs total $2.7 billion; Georgia needs to increase rail and mass transit to move people and freight; Atlanta ranks #6 nationally in congestion (average cost per driver $1510 per year); new rail transportation---passenger and high speed—could be partially built in-state, retooling airplane factories to build rail parts and cars, as was done by Franklin Roosevelt in the retooling during WWII; and,

Whereas , a new National Infrastructure Bank (NIB) could directly finance much of the infrastructure of the nation, including the health care infrastructure needed to address the pandemic, and hire millions of people who have lost their jobs; and,

Whereas , the NIB 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 , Congress introduced HR 6422 to create the new National Infrastructure Bank; it will function like its predecessors. It will be capitalized by existing Treasury debt and require no new federal appropriations. It will invest four trillion dollars into infrastructure only and create twenty-five million new high-paying jobs. The NIB will pay Davis-Bacon wages, ensure Project Labor Agreements and include Buy American provisions. Disadvantaged business enterprises will be enlisted as will large-scale minority hiring. The Bank will grow the economy by 4-5% per year as did its predecessors; and,

Whereas , Many organizations have issued statements of support. Seventeen state legislatures filed support resolutions, including South Carolina (passed the House), Alabama (passed the House), North Carolina, as did county and city councils. The Virginia State AFL-CIO; Hudson Valley NY Building and Construction Trades Council; Plumbers and Pipefitters Local 50 Ohio; Westchester-Putnam Counties NY AFL-CIO Labor Council; CWA Local 4319 Ohio, The National Congress of Black Women, the National Association of Counties, the National Latino Farmers and Ranchers, The American Sustainable Business Council, the National Association of Minority Contractors, the National Federation of Federal Employees (IAMAW) and many more are on record in support; now, therefore be it

Resolved , That we The Georgia State Council of Machinists & Aerospace Workers, call upon the United States Congress to pass H.R. 6422 to create a National Infrastructure Bank to finance urgently needed infrastructure projects; and be it further

Resolved , That copies of this resolution be transmitted to the entire Georgia delegation to Congress, the Governor, and to the President of the United States.

Respectfully Submitted, E-Board and Members, Oct. 13, 2020.

The Georgia State Council of Machinists & Aerospace Workers

Hudson Valley Building Trades Back H.R. 6422

websitebuilder@1and1.de — Fri, 09 Oct 2020 19:07:23 GMT

Memorandum of Support from the Hudson Valley Building and Construction

Trades Council to Create a New National Infrastructure Bank

Whereas, on March 31, 2020, U.S. Congress introduced HR6422 known as the National Infrastructure Bank Act of 2020

Whereas, HR6422 would create a government-owned bank that would lend up to $4 trillion to state and local government to repair and upgrade public infrastructure in the United States.

Whereas, HR6422 would create over 25 million new jobs and includes labor protections including most importantly Davis-Bacon Wages.

Whereas, HR6422 would help jump start the economy and job creation which is much needed due to the coronavirus impact.

Whereas, the American Society of Civil Engineers (ASCE) stated in its 2017 report card that the United States received a D+ regarding the current state of infrastructure and estimates that more than 4.5 trillion dollars would be needed to restore the nation's infrastructure to the state of good repair.

Whereas, the Hudson Valley Building and Constructing Trades Council covers the Counties of Orange, Ulster, Sullivan and Dutchess in New York, represents 28 local unions and 8000 plus members.

Therefore, be it resolved, that the Hudson Valley Building and Constructing Trades Council supports HR6422 and calls upon the Congress of the United States to pass House Resolution 6422 to create a National Infrastructure Bank to finance urgently needed projects in New York and the United States.

Therefore, be it resolved, the Hudson Valley Building and Construction Trades Council shall copy every congressional member within the jurisdiction of Council and the New York State Governor.

City of Providence Endorses H.R. 6422

websitebuilder@1and1.de — Thu, 24 Sep 2020 14:41:10 GMT

City of Providence

STATE OF RHODE ISLAND

RESOLUTION OF THE CITY COUNCIL

NO. 285

Approved September 14, 2020

WHEREAS, There is widely acknowledged a shortfall in infrastructure spending in the United States, which was further highlighted by the Army Corps of Engineers 2017 Report Card grade of D+ and a call for $4.6 trillion in infrastructure spending to repair the nation’s existing infrastructure. At least $2.1 trillion is unfunded, and the remainder is inadequately funded; and

WHEREAS, The United States Chamber of Commerce reports that there is a current shortfall in infrastructure spending of approximately $3.7 trillion; and

WHEREAS, According to the American Society of Civil Engineers (ASCE), Rhode Island’s 2020 grade for infrastructure was C-; Bridges were graded D-, Drinking water C+, Energy C+, Ports C, Roads, D and Wastewater C; and

WHEREAS, Citing a state by state analysis conducted by First Street Foundation and Columbia University, Senator Jeanne Shaheen (D-NH) and Senator Sheldon Whitehouse (D-RI) recently published and Op-Ed stating that Maine, New Hampshire, Massachusetts, and Rhode Island have lost $403 million in coastal property value due to sea level rise; and

WHEREAS, Governor Raimondo has prioritized investment in roads and bridges to improve safety and reliability; and

WHEREAS, A new National Infrastructure Bank (NIB) could partner with the Rhode Island Infrastructure Bank and work in conjunction with the Rhode Island Department of Transportation RhodeWorks program to provide necessary funding for the state’s roads, bridges, water systems and other major infrastructure projects throughout our local communities; and

WHEREAS, A new National Infrastructure Bank could directly aid in fostering an economic recovery and build the infrastructure projects our city, state and nation have neglected, while spurring massive economic growth; and

WHEREAS, H.R. 6422-National Infrastructure Bank Act of 2020 has been introduced in the United States House of Representatives, which proposes the creation of a National Infrastructure Bank, which would be capitalized at $500 billion and invest $3-4 trillion with no new federal appropriation.

NOW, THEREFORE, BE IT RESOLVED, That the Members of the Providence City Council hereby endorse and urge Congress to pass House Bill H.R.6422 the National Infrastructure Bank Act of 2020.

BE IT FURTHER RE.SOLVED, That, upon passage, copies of this resolution be sent to each member of Rhode Island’s congressional delegation. the Rhode Island Building and Construction Trades Ccuncil, the Rhode Island Department of Transportation, and to the President of the United States.

Pittsburgh Endorses National Infrastructure Bank

websitebuilder@1and1.de — Sat, 19 Sep 2020 16:57:21 GMT

WHEREAS, public infrastructure impacts United States residents throughout their daily life and includes roads, railroads, bridges, water supply and treatment, sewage treatment, dams, stormwater collection, and public parks, and;

WHEREAS, our nation’s spending on infrastructure has fallen to its lowest level in 70 years, down to 2.5% of our nation’s GDP, which is half the comparable level in Europe and one-third the level in China, and;

WHEREAS, infrastructure development needs careful planning and a reliable source of long-term funding in order for it to succeed, and;

WHEREAS, The American Society of Civil Engineers estimates in its 2017 report that $4.6 trillion is needed just to repair the nation’s existing infrastructure, and;

WHEREAS, the COVID-19 pandemic has created a recession leading to more budget shortfalls, making it unlikely that adequate infrastructure financing will come from the federal budget, and;

WHEREAS, expanded investment is needed in new manufacturing centers, affordable housing, broadband access, science and technology drivers, to accommodate population growth and migration, and for other improvements in urban, and low-income areas that the private sector does not currently serve, and;

WHEREAS, the creation of national banks have resulted in the availability of funds for critical infrastructure projects, and led to increased productivity, economic and job growth in at various points in our nation’s history, and;

WHEREAS, legislation has been introduced into the United States Congress to create a $4 trillion National Infrastructure Bank through House Bill HR 6422 introduced by Representative Danny Davis (D-IL) on March 31, 2020, and;

WHEREAS, The purpose of a National Infrastructure Bank shall be to facilitate efficient, long-term financing of infrastructure projects, business and economic growth, and new job creation in the United States, and;

WHEREAS, The establishment of a United States public deposit money bank would provide direct loans and other financing of up to $4 trillion for qualifying infrastructure projects. Such funding would return the United States to its most recent “golden age” when a National Infrastructure Bank was in place (1933-1957), during which time total factor productivity advanced by 3.5 percent per year, the economy grew by 5.5 percent per year, income inequality fell by one-third, and Federal and State tax receipts rose dramatically, and;

WHEREAS, The National Infrastructure Bank, through its branch offices, shall facilitate the organization of at least 7 Regional Economic Accelerator Planning Groups, to be defined by common economic, demographic, and infrastructure linkages, and;

WHEREAS a new National Infrastructure Bank can be financed the same way as previous national infrastructure banks, by monetizing existing Treasury debt rather than creating new debt, and except for a small appropriation from Congress to get started, it will pay for itself, and;

WHEREAS, it is expected that borrowers from the National Infrastructure Bank will be state and local governments and will not allow privatization of public infrastructure, beyond what has already taken place, and infrastructure projects will be vetted according to their cost-benefit analysis and criteria set out in the draft bill, and;

WHEREAS, for every $1 spent on a public infrastructure project, $3-7 is returned back to the economy and the National Infrastructure Bank will create 25 million new jobs for United States citizens, and;

WHEREAS, the National Infrastructure Bank could be positioned to play a significant role in fighting the economic effects of the current COVID-19 recession, with currently 22 million people unemployed. The National Infrastructure Bank jobs will be long-lasting and well-paying bolstering economic recovery, and;

NOW, THEREFORE BE IT RESOLVED, that the Council of the City of Pittsburgh does hereby call on the United States Congress to create a new National Infrastructure Bank by passing HR6422.

BE IT FURTHER RESOLVED, that a copy of this Will of Council shall be sent to the Allegheny County delegation of the Pennsylvania State House and Senate, the chairs and minority chairs of the State House and Senate Transportation Committees, Governor Tom Wolf, and Pennsylvania Secretary of Transportation Yassmin Gramian

Sponsored by Councilperson Erika Strassburger

Co-Sponsored by Councilmembers Rev. Ricky Burgess, Deb Gross, Bruce Kraus, R. Daniel Lavelle, Corey O’Connor, Anthony Coghill, Bobby Wilson and Theresa Kail-Smith

Executive Council of TMACOG (Northwest Ohio, Toledo area) Supports National Infrastructure Bank

websitebuilder@1and1.de — Sat, 19 Sep 2020 16:57:10 GMT

A RESOLUTION OF THE

TOLEDO METROPOLITAN AREA COUNCIL OF GOVERNMENTS

SUPPORTING THE CREATION OF A NATIONAL INFRASTRUCTURE BANK

WHEREAS, the Toledo Metropolitan Area Council of Governments (TMACOG) is a voluntary association of local governments and non-governmental partners in northwest Ohio and southeast Michigan, organized on May 31, 1968, and established under Chapter 167 of the Ohio Revised Code and the Michigan Public Act No. 7 (EX-SESS), and has carried out comprehensive metropolitan and regional planning since that date; and

WHEREAS, the Toledo Metropolitan Area Council of Governments (TMACOG) is designated as the Metropolitan Planning Organization (MPO) by the Governor through the Ohio Department of Transportation in cooperation with local elected officials and is authorized to carry out the continuing, cooperative, and comprehensive transportation planning process (Process) for the Toledo Metropolitan Planning Area that results in plans and programs that consider all transportation modes and supports community development and social goals; and

WHEREAS, the MPO has been designated by the United States Department of Transportation (U.S.DOT) and the Ohio Department of Transportation (ODOT) to direct, coordinate, and administer the Process in the Toledo Metropolitan Planning Area as mandated by the Congress in Titles 23 and 49 U.S.C.; and

WHEREAS, the United States faces a widely acknowledged infrastructure crisis that is exacerbated by a substantial shortfall in infrastructure spending; and

WHEREAS, the 2017 Infrastructure Report Card from the American Society of Civil Engineers (ASCE) gave the United States a cumulative grade of “D+” across 16 categories and estimated that the nation needs a $4.59 trillion investment in infrastructure by 2025 just to bring this grade up to a “B”; and

WHEREAS, ASCE found that continuing this trajectory and failing to invest in improvements by 2025 will have serious economic consequences, including $3.9 trillion in losses to the national gross domestic product and job losses of more than 2.5 million; and

WHEREAS, ASCE found that Ohio infrastructure in need of repair costs driver’s and average of $545 per year, and 6% of bridges are rated structurally deficient, drinking water infrastructure needs in Ohio are estimated at $13.41 billion, and wastewater infrastructure needs total $14.58 billion; and WHEREAS, a new National Infrastructure Bank could have a spending authority of $4 trillion and be capitalized with no new federal appropriations beyond start-up costs, could be modeled on the previous successful National Bank models, and would monetize existing debt rather than create new debt, thus causing no deficit increase; and

WHEREAS, a National Infrastructure Bank that partners with state and local governments can supply the needed financing to bring infrastructure to a state of good repair, and this investment would restart various industries in the State of Ohio, creating millions of new high-paying jobs; and

WHEREAS, the federal proposal for a National Infrastructure Bank sets aside $800 billion for passenger rail related projects; and

WHEREAS, National Congress of Black Women, National Federation of Federal Employees, National Latino Farmers & Ranchers Trade Association, and the National Associations of Counties, as well as numerous other organizations have endorsed the establishment of a National Infrastructure Bank; and

WHEREAS, various state and local governments have passed resolutions supporting the establishment of a National Infrastructure Bank; and

WHEREAS, various state legislatures have introduced resolutions supporting the establishment of a National Infrastructure Bank including H.R. 348 in the State of Ohio.

NOW, THEREFORE, BE IT RESOLVED BY THE TOLEDO METROPOLITAN AREA COUNCIL OF GOVERNMENTS:

Section 1

THAT, the Toledo Metropolitan Area Council of Governments urges the members the Ohio’s 133rd General Assembly to pass House Resolution H.R. 348 which urges the Congress of the United States to establish a National Infrastructure Bank; and

Section 2:

THAT, the Toledo Metropolitan Area Council of Governments urges the 116th Congress of the United States to pass H.R. 6422 which establishes a National Infrastructure Bank; and

Section 3:

THAT, copies of this resolution be forwarded to sponsors and cosponsors of HR 348, as well as members of the Northwest Ohio delegation to the Ohio General Assembly.

Adopted by the Executive Committee on September 16, 2020.

Yea _-11-_, Nay _-0-_, Abstain _-0-_

_______________________________________ __________________________________

Mark W. Stahl, Chair Tim W. Brown, President

Toledo Metropolitan Area Toledo Metropolitan Area

Council of Governments (TMACOG) Council of Governments (TMACOG)

Fulton County Democrats (Ohio) Endorse H.R. 6422

websitebuilder@1and1.de — Mon, 31 Aug 2020 00:16:49 GMT

Fulton County Democratic Party

Fulton County, Ohio

Officers:

Chair: Frank Michalkiewicz

Vice Chair: Tasha Grieser

Secretary: Mary Garman

Treasurer: Elizabeth Stuart

Resolution in Support of a National Infrastructure Bank

WHEREAS, the United States faces a widely acknowledged infrastructure crisis that is exacerbated by a substantial shortfall in infrastructure spending; and

WHEREAS, the 2017 Infrastructure Report Card from the American Society of Civil Engineers(ASCE) gave the United States a cumulative grade of “D+” across 16 categories and estimated that the nation needs a $4.59 trillion investment in infrastructure by 2025 just to bring this grade up to a “B”; and

WHEREAS, ASCE found that continuing on this trajectory and failing to invest in improvements by2025 will have serious economic consequences, including $3.9 trillion in losses to the national gross domestic product and job losses of more than 2.5 million; and

WHEREAS, ASCE in the 2017 Infrastructure Report Card, Ohio faces infrastructure challenges of its own. For example, driving on roads in need of repair in Ohio costs each driver $545 per year, and 6% of bridges are rated structurally deficient. Drinking water needs in Ohio are an estimated $13.41 billion, and wastewater needs total $14.58 billion. 412 dams are considered to be high-hazard potential. The state’s schools have an estimated capital expenditure gap of $683 million. This deteriorating infrastructure impedes Ohio’s ability to compete in an increasingly global marketplace. Success in a 21st century economy requires serious, sustained leadership on infrastructure investment at all levels of government. Delaying these investments only escalates the cost and risks of an aging infrastructure system, an option that the country, Ohio, and families can no longer afford.; and

WHEREAS, ASCE noted that traffic congestion results in more than $3.7 billion annually in lost time and wasted fuel,; and

WHEREAS, a new National Infrastructure Bank could have a spending authority of $4 trillion, and be capitalized with no new federal appropriations. This bank would be modeled on the previous successful National Bank models. It would monetize existing debt rather than create new debt thus causing no deficit increase; and

WHEREAS, the First and Second Bank of the United States, created on this model were located in Philadelphia and built much of the infrastructure of the first half of the 19th century; and

WHEREAS, a national infrastructure bank that partners with the state and local governments can supply the needed financing to bring infrastructure to a state of good repair; and

WHEREAS, this investment would restart various industries in the State of Ohio, creating millions of new high-paying jobs; and

WHEREAS, National Congress of Black Women, National Federation of Federal Employees, National Latino Farmers & Ranchers Trade Association and the National Associations of Counties, as well as numerous other organizations have endorsed the establishment of a national infrastructure bank; and

WHEREAS, various state and local governments have passed resolutions supporting the establishment of a national infrastructure bank; and

WHEREAS, various state legislatures have introduced resolutions including the Ohio State General Assembly as HR 348 ; therefore be it

RESOLVED, that the Fulton County Democratic Party Executive Committee urge the Democrats in the Ohio General Assembly to pass House Resolution HR 348 which urges the Congress of the United States to establish a National Infrastructure Bank; and be it further

RESOLVED, that the Fulton County Democratic Committee urge the Democrats in the Ohio General Assembly to pass House Resolution 348 (2020) which urges the Congress of the United States to establish a National Infrastructure Bank; and be it further

RESOLVED that the Fulton County Democratic Committee urge the Ohio Democratic members of the Congress of the United States to pass HR 6422 which establishes a National Infrastructure Bank.

Submitted by: Frank Michalkiewicz, Delta

Virginia AFL-CIO Endorses National Infrastructure Bank

websitebuilder@1and1.de — Tue, 25 Aug 2020 21:36:07 GMT

Call for a National Infrastructure Bank

WHEREAS, there is a widely acknowledged shortfall in infrastructure spending in the United States of America, resulting in the failure of bridges, dams, utilities, and levies, resulting in the loss of aquifers and coastline, and failing in the much needed improvement of highways, railways, and broadband connectivity.

WHEREAS, the American Society of Civil Engineers (ASCE) has given an overall D+ rating on its 2017 Report Card, and a need for over four (4) trillion dollars in spending to bring our nation’s infrastructure to state of good repair.

WHEREAS, a National Infrastructure Bank would be able to lend four (4) trillion dollars to urgently needed projects, be budget neutral, and repurpose the national debt as was done after the revolutionary war.

WHEREAS, our trade competitor China uses an infrastructure bank modeled after Alexander Hamilton’s bank, and triples their Gross Domestic Product (GDP) infrastructure spending in comparison with the United States of America.

WHEREAS, our national debt is ever increasing while not resolving the nation’s infrastructure needs.

WHEREAS, a large population of our nation faces unemployment, and many of our businesses face bankruptcy due to the novel Corona virus (COVID-19).

WHEREAS, Infrastructure is a major concern for businesses seeking to locate to a community in a century where the United States of America has lost sixty thousand (60,000) manufacturers.

WHEREAS, bringing back manufacturers from overseas locations creates good union middle class jobs.

WHEREAS, many Americans face economic uncertainty and injustice which will result in social unrest, loss of hope, and disruptions in our national identity.

WHEREAS, a National Infrastructure Bank (NIB) has, in our nation’s past, created economic recovery and modernized our nation, as was done by President Franklin D. Roosevelt’s Reconstruction Finance Corporation which helped lift our struggling nation out of the Great Depression.

BE IT RESOLVED, The Virginia AFL-CIO hereby endorses HR 6422 and urges congress to pass this legislation; and, be it further

RESOLVED, that copies of this resolution be sent to the National AFL-CIO, the National Building Trades, the congressional delegation of Virginia, and the President of the United States of America.

Submitted by:

The Virginia State Building Trades & Construction Council

Trailer for NIB Coalition Videos at Democratic Convention Released

websitebuilder@1and1.de — Sun, 23 Aug 2020 23:26:45 GMT

The Coalition for the National Infrastructure Bank (NIB) has just posted a trailer which contains highlights of two videos played in connection to the recently concluded Democratic National Convention.

The videos present an in depth case for adopting H.R. 6422 which establishes the the NIB. One video includes multiple panels on the NIB with prominent experts and supporters on the proposed bank, while the second video is the recording of a live Q & A session.

The trailer can be viewed by clicking here .

Important Dialogue on Infrastructure and Jobs Held During Democratic Convention

websitebuilder@1and1.de — Sat, 22 Aug 2020 21:31:34 GMT

Looking for some meaningful policy discussion at the recent National Democratic Convention which addresses the current economic catastrophe?

Listen to the Question and Answer discussion, which was an official convention event, sponsored by the Coalition for the National Infrastructure Bank. The event was streamed live at 1pm Wednesday, August 19, 2020.

The video can be found here .

Farm Leader Arredondo Releases New Video on NIB Coalition Website

websitebuilder@1and1.de — Thu, 06 Aug 2020 00:03:27 GMT

August 4, 2020- A new video was released today on the NIBCoalition.com home page, featuring NIB Coalition Advisory Board member Rudy Arredondo. President of the National Latino Framers and Ranchers Trade Association, Arredondo discusses the impact of collapsing infrastructure on the agricultural sector. The video cam be viewed here .

Pennsylvania Democratic Committee Endorses H.R. 6422

websitebuilder@1and1.de — Mon, 03 Aug 2020 21:05:26 GMT

Resolution in Support of a National Infrastructure Bank

WHEREAS, the United States faces a widely acknowledged infrastructure crisis that is exacerbated by a substantial shortfall in infrastructure spending; and

WHEREAS, ASCE found that continuing on this trajectory and failing to invest in improvements by 2025 will have serious economic consequences, including $3.9 trillion in losses to the national gross domestic product and job losses of more than 2.5 million; and

WHEREAS, the infrastructure crisis in the Commonwealth of Pennsylvania mirrors that of the country at large; and

WHEREAS, ASCE 2018 Infrastructure Report Card gave our Commonwealth a cumulative grade of “C -“ across 18 categories, including a “D+” for roads, a “D” for drinking water and a “D -“ for wastewater treatment; and

WHEREAS, ASCE noted that traffic congestion results in more than $3.7 billion annually in lost time and wasted fuel, while deficient roadway conditions caused the average Pennsylvania motorist more than $500 in operating and maintenance outlays; and

WHEREAS, the First and Second Bank of the United States, created on this model were located in Philadelphia and built much of the infrastructure of the first half of the 19th century; and

WHEREAS, Abraham Lincoln's national banking acts financed the railroad industry in Pennsylvania and made Pennsylvania a great industrial state; and

WHEREAS, Franklin Roosevelt's National Bank called the Reconstruction Finance Corporation financed a large amount of the infrastructure of the 20th century, including the landmark Pennsylvania Turnpike; and

WHEREAS, a national infrastructure bank that partners with the state and local governments can supply the needed financing to bring infrastructure to a state of good repair; and

WHEREAS, this investment would restart various industries in the Commonwealth of Pennsylvania, creating millions of new high-paying jobs; and

WHEREAS, National Congress of Black Women, National Federation of Federal Employees, National Latino Farmers & Ranchers Trade Association, the Democratic National Committee, and

Northampton County Democratic Committee (PA) as well as numerous other organizations have endorsed the establishment of a national infrastructure bank; and

WHEREAS, various state and local governments have passed resolutions supporting the establishment of a national infrastructure bank; and

WHEREAS, various state legislatures have introduced resolutions including the New Jersey and Pennsylvania House of Representatives; therefore be it

RESOLVED, that the Pennsylvania Democratic Committee urge the Democrats in the Pennsylvania General Assembly to pass House Resolution 636 (2019) which urges the Congress of the United States to establish a National Infrastructure Bank; and be it further

RESOLVED, that the Pennsylvania Democratic Committee urge the Democrats in the Pennsylvania General Assembly to pass Senate Resolution 338 (2020) which urges the Congress of the United States to establish a National Infrastructure Bank; and be it further

RESOLVED that the Pennsylvania Democratic Committee urge the Pennsylvania Democratic members of the Congress of the United States to pass HR 6422 which establishes a National Infrastructure Bank.

Submitted by:

Laura Quick

Member

Representing Lebanon County

Op-Ed by Alphecca Muttardy: Submit to your Local Newspaper

websitebuilder@1and1.de — Sun, 26 Jul 2020 19:26:31 GMT

Alphecca Muttardy, macro-economist and NIB Coalition Advisory Board member, has written a short opinion piece suitable for submission to newspapers or other publications.

NIBCoalition.com is making this available on the website, in the menu tab "Take Action", with the title " Submit this Op-Ed. "

Supporters and activists are encouraged to circulate this piece. The text can be copied from the site, or the attached PDF can be downloaded.

Note: Please keep the author's name on the article.

Allegheny County Council Endorses National Infrastructure Bank, H.R. 6422

websitebuilder@1and1.de — Thu, 16 Jul 2020 22:49:13 GMT

Bill No. 11565-20

MOTION OF THE COUNCIL OF ALLEGHENY COUNTY

Urging the Congress of the United States to create a new National Infrastructure Bank (NIB) could directly aid in fostering an economic recovery and build fundamental infrastructure projects.

Whereas there is a widely acknowledged shortfall in infrastructure spending in the

nation; the American Society of Civil Engineers (ASCE) gave the country a D+ in its 2017

Report Card and estimates the nation must spend at least $4.6 trillion to bring current

infrastructure to a state of good repair, and noted that at least $2.1 trillion is unfunded, with the remainder inadequately funded; and

Whereas. new projects, including broadband, water projects, rail and high-speed rail are unfunded; and,

Whereas the impact of the coronavirus pandemic on peoples' lives and the economy has been devastating; at least 30 million people are unemployed and large numbers of businesses face bankruptcy or closing, and this ongoing catastrophe has thrown the economy into a deep recession; and,

Whereas, The ASCE grade for Pennsylvania in its 2018 Report Card was C+; Roads were graded D+, Drinking Water D (as over the next ten years the drinking water funding gap statewide will be at least $10 billion); Inland Waterways were graded D (with the Port of

Pittsburgh lock and dam system needing much investment and the potential for major lock and dam failure and loss of navigation for extended time periods); Wastewater D- (with the average age of all sewer systems near seventy years old and many pipes over 100 years old); and

Whereas, construction of a dedicated high-speed rail system from Boston to Washington, DC and from Philadelphia to Pittsburgh and west would provide much needed transportation in the congested northeast and central corridors and is unfunded; and,

Whereas a new National Infrastructure Bank (NIB) could directly aid in fostering an economic recovery and building necessary infrastructure projects we have neglected; and

Whereas, legislation to create such a bank has been introduced into Congress this spring, as HR 6422; and

Whereas, pursuant to the terms of HR 6422, the proposed NIB is modeled on four

previous institutions created by Presidents George Washington, John Quincy Adams, Abraham Lincoln, and Franklin D. Roosevelt, which helped spur massive economic growth; and,

Whereas the new National Infrastructure Bank would be able to invest $4 trillion for urgently needed projects; and

Whereas, the proposed NIB would be capitalized by repurposing existing Treasury debt, would create no new debt in the process, and because it would be budget-neutral, would require no new taxes; and

Whereas, the proposed NIB would create 25 million new jobs paying Davis-Bacon wages, and help hire those made jobless by the coronavirus pandemic while requiring Project Labor Agreements and Buy American provisions for all projects; and

Whereas the National Infrastructure Bank would increase growth from 1.8% per year to 5% per year, and increase tax revenues coming into state, local and federal governments; and,

Whereas many organizations have endorsed the new National Infrastructure Bank. 17 state legislatures, including Pennsylvania (HR 636) have introduced or passed bi-partisan resolutions in support of the new bank. City and County councils have also passed resolutions including Allentown City Council and Northampton County Council. The National Association of Counties has endorsed the policy, and other endorsements include the National Association of Minority Contractors, National Latino Farmers and Ranchers, the National Congress of Black Women, the National Federation of Federal Employees, and many labor unions. HR 6422 has been introduced into Congress to create the new National infrastructure Bank;

The Council of the County of Allegheny therefore hereby moves as follows:

Allegheny County Council hereby endorses HR 6422 and urges Congress to pass this legislation and create a new National Infrastructure Bank. The Chief Clerk of Allegheny County Council is hereby directed to forward copies of this motion to the Pennsylvania Congressional Delegation, to the Governor of Pennsylvania and to the President of the United States.

PRIMARY SPONSOR: COUNCIL MEMBER PRIZIO

CO-SPONSORS: COUNCIL MEMBERS HALLAM, BENNETT, WALTON, FUTULES,

ZAVARELLA, and KLEIN and PRESIDENT CATENA

Bucks County Courier Times Letter: Congress Should Use Infrastructure Bank to Boost Economy

websitebuilder@1and1.de — Thu, 16 Jul 2020 22:31:42 GMT

Opinion

Posted July 14, 2020

LTE: Congress should use infrastructure bank to boost economy

Currently under consideration in Congress is a bill (H.R. 6422) that would do much to help restart the economy. This legislation would provide much needed jobs and build critically needed infrastructure.

This would be enabled, not by tax funds, as a recent bill did, but primarily from existing, privately owned treasuries which would be exchanged for preferred stock, paying an extra 2% above the current rate.

This infrastructure bank would stimulate the economy, not only by providing much-needed well-paying jobs, but support the business economy by the purchase of the resources needed for construction and indirectly through the increased purchasing power of those employed during the construction of the infrastructure.

Four times in our history, an infrastructure bank was used successfully: First by Alexander Hamilton to fund the infrastructure necessary for our young country to grow and lastly by Franklin Roosevelt during the Great Depression, putting people to work building and repairing critical infrastructure thereby helping to restore the economy.

By providing a tax-free way to fund much-needed projects, we can, as the old saying goes, kill several birds with one stone:

1.) Fix our decaying infrastructure

2.) Build new, needed modern infrastructure

3.) Put people back to work

4.) Support local businesses

5.) indirectly restore tax revenue to local, state and federal government.

One can only hope that our legislators will agree and pass this critical legislation.

Peg Dissinger

Newtown

(The posted version can be found here .)

Selections from Pennsylvania Virtual Town Hall Meeting, June 20, 2020

websitebuilder@1and1.de — Wed, 01 Jul 2020 19:06:04 GMT

On Saturday, June 20, 2020, Northampton County (Pa) County Councilwoman Tara Zrinski convened a virtual Town Hall to build support for H.R 6422, and the idea of creating a National Infrastructure Bank. Below is the clip :"Big enough to fix all existing infrastructure, and build new projects", from Rep. Jim Roebuck.

Jim Roebuck is the Democratic Chairman of the Education Committee of the Pennsylvania General Assembly. He's been very active with the Coalition, and has traveled to Washington DC several times to participate in meetings with US Congressional offices. At the Town Hall Meeting, Jim gave an overview of the NIB, how it will function, what it will do, how it will be capitalized. 4 min. 7 sec.one audio clip.

The other clips are available on the Events page.

Hampton Roads Building and Construction Trades Council Letter to Congress in support of H.R. 6422

websitebuilder@1and1.de — Wed, 01 Jul 2020 18:40:24 GMT

Letter to Congress in Support of National Infrastructure Bank Legislation

June 17, 2020

As labor representatives, we are writing to you about a new bill, H.R. 6422; legislation to

create a National Infrastructure Bank. The National Infrastructure Bank (NIB) addresses

the funding required to finance desperately needed infrastructure projects. Our

economy has been devastated by the coronavirus pandemic and many of the job and

business losses during the accompanying recession will be permanent. A renewed

commitment to infrastructure is being discussed at all levels of government. The NIB will

provide the financing.

The new bank would be capitalized without additional federal debt or new taxes. It will

begin operations with at least $500 billion in capital. Privately held Treasury debt would

be exchanged for stock in the bank paying 2% more than the interest on Treasuries

exchanged, federally guaranteed.

The NIB, operating like a Commercial Bank, will lend up to $4 trillion to fund the public

works projects of our nation, including clean water, transportation, broad band, and

power. This could generate upwards of twenty-five million new, high-paying skilled Union jobs. Only this kind of bold initiative can reverse the decades of neglected infrastructure in our country. We strongly urge you to endorse H.R. 6422 to put America back to work.

Respectfully,

Hampton Roads Building and Construction Trades Council

Representing the men and women of Southeast Virginia

New Endorsements of the National Infrastructure Bank, H.R.6422

websitebuilder@1and1.de — Wed, 24 Jun 2020 21:34:42 GMT

On Saturday, June 20, 2020, the State Convention of the Virginia Democratic Party passed a resolution calling for the creation of a 21st Century National Infrastructure Bank.

This followed recent endorsements for H.R.6422 by the following organizations:

Westchester-Putnam Counties AFL-CIO Central Labor Body (New York)

Toledo Area Jobs with Justice and Interfaith Worker Justrice Coalition (Ohio)

UA Local 50 Plumbers, Northwood, Ohio

Copies of these resolutions, and others, can be seen on the Endorsements Page of this site.

H.R. 6422: Not Just Another Stimulus Bill

websitebuilder@1and1.de — Mon, 22 Jun 2020 16:46:14 GMT

Updates for June 22, 2020

Addressing infrastructure as a priority for addressing the unprecedented economic downturn, has now taken center stage in Washington.

This past week. as the Trump Administration began floating a $1 Trillion plan , details of which have yet to emerge, Democrats unveiled their own $1.5 Trillion plan on Thursday.

Speaker of the House Pelosi, quoted in The Hill , hit the nail on the head, with her statement concerning the view of building infrastructure in the country: “As you know, the Grim Reaper said nothing is ever going any place in the Senate,” Pelosi said, referring to McConnell. “But there is tremendous interest in the country in building the infrastructure…”, said the Speaker.

Here are some of the advantages of the National Infrastructure Bank (NIB), as proposed in the Davis-Moulton Bill H.R. 6422:

• The NIB avoids deficit spending, and will also address the bankruptcy of the economy and financial system (and the dollar), giving existing US debt a productive use.

• The NIB could be configured to be far larger than $4 Trillion, given its approach, and still not have an impact on the budget. It is not just another stimulus bill.

• Therefore, the NIB opens an entire new era, like was accomplished by the RFC under Franklin Roosevelt.

• Smaller infrastructure bills, while needed, would complement the NIB which would become the driver for the economic recovery.

National Infrastructure Bank Introduced into the House of Representatives

websitebuilder@1and1.de — Sun, 07 Jun 2020 18:19:09 GMT

On March 31, 2020, Representative Danny Davis (D-IL-7) introduced H.R. 6422 into the United States House of Representatives. The bill is entitled, "The National Infrastructure Bank Act of 2020". It is co-sponsored by Rep. Seth Moulton (D-MA-6).

The bill has the following characteristics:

It will be capitalized with $500 Billion in U.S. Treasury securities of 3 years or greater maturity
The lending capacity of the Bank will be $4 Trillion
Loans for projects will carry a maximum of 2% interest
Credit will be extended only for infrastructure projects

A few crucial features regarding the funding of the bank:

No new taxes are needed
No new federal debt will be incurred
The Bank will be budget neutral

A conservative estimate of the number of jobs created by these infrastructure projects is 25 Million.

You can access a more complete summary of the bill on this website under Bullet Summary of the Bank .

A copy of the bill along with its current status can be accessed here: H.R. 6422 National Infrastructure Bank Act of 2020 on Congress.gov

Call your Congressman and urge him or her to support H.R. 6422!

Call 202-224-3121

A Brief History of the Principle of National Banking in the United States

websitebuilder@1and1.de — Fri, 29 May 2020 19:44:13 GMT

While Central Banks exist in many other countries, the United States is unique in its successful development of national banking. The purpose of National Banks, developed even before the ratification of the U.S. Constitution, was to marshal the financial resources of the young nation and direct them into investment in infrastructure and industry. They were never intended to be instruments of buying and selling government debt, as was done in Europe and elsewhere.

There have been four periods in United States’ history where the principle of national banking was successfully implemented, as this blog outlined in a post April of this year. Here we provide a more substantial review, with the aim of demonstrating how this principle worked then, and building support for a similar approach today.

1790-91—First Bank of the United States

The creation of the First Bank was developed in the administration of George Washington. Under direction of Congress and with the support of Washington, Treasury Secretary Alexander Hamilton was commissioned to write several reports to Congress. These reports became the touchstones of the economic system of the nation. When Washington became president, the United States was drowning in its enormous revolutionary war debt, owed to states, individuals, and foreign governments. It was not being paid. Hamilton reorganized the debt, had the federal government “assume the states’ debts,” and funded the entirety by new excise taxes and import duties.

In 1791 the Congress created the Bank of the United States, and capitalized it at $10 million, a sum that was greater than all the banks in the country at the time. And it was capitalized in one day! To summarize: Hamilton offered holders of the newly reorganized debt instruments the opportunity to invest in the bank. They could buy shares with ¼ specie (gold, silver, coin, etc.) and ¾ new government bonds. They would be paid a regular interest higher than the interest on their debt, all federally guaranteed. The interest on the newly minted Government debt was paid to the Bank.

The Bank could issue currency notes up to the amount of capital, $10 million, and that played a crucial role in finally funding commerce and infrastructure (internal improvements) in the country. The value of the currency was regulated by the Bank, and its investment in new productivity cemented its strong value. Also the Bank of the United States was the sole depository of all circulating money and taxes in the nation.

Credit from the Bank became the engine of economic growth of the country. Growth was steady, though not at the pace of later such facilities, simply because the nation was starting at “square one.” Nevertheless the results were impressive.

Production of useful materials expanded at a rapid rate. Merchandise exports had quintupled by 1805, with well over $100 million exported. Gross tonnage moving across the oceans in American built vessels doubled. Imports had grown more rapidly.

From 1803 to 1807, an average of 80 patents per year were issued for new inventions, a rate four times greater than from 1790-94. Twenty thousand miles of post roads were built, a nascent manufacturing base was begun, and dams and early canals were constructed. By 1811, when the charter expired, the main issue holding back the continued expansion of the productive economy was a lack of interconnected transportation.

One important measure of the accelerating growth potential was the increase in population. From 1790 to 1805 the population had grown from 3.9 million to 6.3 million, an annual growth rate of 3.2%. In the 2010s the population growth rate was an anemic .7% by comparison.

Also, the Bank turned a profit.

It was chartered for 20 years, but serious opposition from landed aristocrats and their allies prevented the charter from being renewed.

1816–Second Bank of the United States

Following a serious economic downturn due to lack of credit and investment, and the near disaster of the War of 1812, Congress chartered the Second Bank of the United States in 1816. It was capitalized in the same manner as the First Bank, with the investment of Treasuries into the Bank in exchange for shares. The Bank also was created in a period where the economy was larger, and so investment in the Bank from private capital began to grow. Just like its predecessor, the Bank was chartered to carry out the expansion of the economy, not to bail out the government.

The original capital of the Bank was $35 million, of which $7 million was supplied by the government. This was a large amount, as the total money in circulation was $75 million, and annual revenue into the federal government was $25 million.

The Second Bank got off to a rocky start due to mismanagement, but with the ascension of Nicholas Biddle as a Director in 1819 and then President, the Bank made tremendous progress. Under the guidance of Biddle, in collaboration with President John Quincy Adams, a co-thinker of Washington’s and Hamilton’s policies, and Henry Clay as Speaker of the House, the economy rapidly expanded. Biddle came from the Pennsylvania circle of Benjamin Franklin and Matthew Carey, and had been head of the Society of Internal Improvements. Biddle and Carey founded the Franklin Institute in Philadelphia to promote scientific research in aid of industrialization.

Collaboration between the Congress and the Bank flourished, despite a tremendous push back by speculators and opponents of industrial development.

The Bank was directly involved in the development of canals, railroads, roads, the iron and coal industries, and state and local infrastructure projects. The overall standard of living of the nation grew as a result.

Some examples of the investments of the Bank with either states or private capital include:

Railroads —The Bank helped fund (up to 50%) and create over 20 new rail lines across the nation. They included The Buffalo and Niagara Falls, Franklin, New Orleans and Nashville, Philadelphia-Wilmington and Baltimore, Richmond and Petersburg, etc.

Canals —The Bank directly funded (again up to half) 8 canals, including the Brunswick in Georgia, the Illinois and Michigan, the Morris in New Jersey

Coal —The Bank directly funded much of the new coal industry in Pennsylvania

It also financed turnpikes, roads, bridges, and the like. Currency was controlled, the value of the dollar maintained, and credit was directed into infrastructure and industry.

Its Charter was renewed by Congress in 1832 but vetoed by President Andrew Jackson, who proceeded to take U.S. government monies out of its, and return to “hard money.” His actions eventually led to the Panic of 1837 and the downward spiral of the economy.

The Third Bank of the United States—1841

In 1841 the Congress, under the leadership of Clay, passed new legislation chartering a Third Bank of the United States, on the same exact model of the first two. This bill passed both houses, but was vetoed by President Tyler, who was beholden to the southern slaveholders and northern “Wall Street” financiers.

From 1841 until the presidency of Lincoln, the financial system was “deregulated.” Over 7,000 different currencies were put into circulation, and thousands of banks of all shapes and sizes dotted the landscape creating economic chaos, and a collapse of credit.

1862-64–Abraham Lincoln and the Creation of National Banking

Candidate Lincoln, a protégé of Henry Clay, campaigned on a platform including internal improvements and a National Bank. Lincoln personally added the Transcontinental Railroad to the 1860 platform of the Republican Party. As a state legislator in Illinois, Lincoln had been the leading proponent of infrastructure development. The policy of internal improvements, a tariff, and a National Bank had been dubbed the American System by Clay and was the avowed policy of Lincoln and the new Republican Party.

As president, Lincoln had no time to enact a new national bank; he was immediately confronted by the outbreak of the Civil War. By 1862 under the burden of war and rapidly diminishing finances, Lincoln and his collaborators took the principle of National Banking and applied it to the crisis. He moved to centralize control over the nation’s finances and direct credit to infrastructure and industry, to win the Civil War and build the nation.

Congress passed three Legal Tender Acts in 1862 and 1863, which created a uniform circulating currency, known as Greenbacks (the color of the ink on the back of the bills). Their circulation allowed both for payment of taxes and investment in needed industrial and agricultural projects. Lincoln increased the circulation of Greenbacks by 300% during his administration. (Interestingly, it was under Lincoln that Alexander Hamilton’s picture first appeared on U.S. currency.)

In 1863 and 1864 Congress passed the National Banking Acts based on the Hamiltonian model of the Banks of the United States. This created a national system, ending the chaotic reign of state and local banks running amok. Thousands of banks were re-chartered as part of the National Banking system. They were required to buy long-term Treasury bonds and deposit them with the Treasury as security, and the government then issued Greenbacks, backed by Treasury bills, to them to circulate. The Treasuries were funded with taxes and a tariff just like under George Washington and John Quincy Adams.

The legislation also created the Office of the Comptroller of the Currency to regulate this new national system. These acts by Lincoln are the basis of today’s U.S. banking system.

The results of this policy were impressive. Railroad development drove much of the industrial economy. The U.S. erected a massive railway system, which by 1865 extended to 45,000 miles. As the Lincoln policy continued after his death, railroad construction quadrupled to 167,000 miles by 1890, more than all of Europe combined. Railroad development spurred expansion in all the related areas, i.e. bridge construction, tunnels, and raw materials mining. These included iron ore, coal, limestone, etc. Railroads were used for war time troop transit and peacetime transportation. With the railroads came new cities and expanded agriculture. Under Lincoln the Land Grant and Homestead Acts fostered those developments.

Lincoln also began the Transcontinental Railroad, personally, in 1862. He had met with the proponents of the system before the war and became expert in its development. The Golden Spike in Utah can be directly traced to Lincoln and his national banking policy. The northern spur of the railroad, the Union Pacific, was largely built by Union troops who migrated from rail construction during the war to the new lines opening up the west.

The U.S. also built the first modern telecommunication system during the war, the telegraphs. As the Transcontinental Railroad was building west, telegraph lines were being constructed alongside. When the system was connected at Promontory Point, it was reported instantaneously by the new telegraph system.

As a result of Lincoln’s policies, the United States became an agro-industrial powerhouse, the envy of the world. Productivity expanded, as new inventions and new industrial output led to increasing rates of development and a massively growing economy.

1933-1945—the Franklin Roosevelt Administration

The Franklin Roosevelt Administration went back to the models of National Banking, and infrastructure and industrial development of the 19th Century. FDR’s early relatives were business partners and collaborators of Hamilton and George Washington, and numbers of his advisors were also versed in that tradition. Notable among them were Frances Perkins, Henry Wallace, Harry Hopkins, Harold Ickes, and Sen. Robert Wagner.

The New Deal period of 1933-38 witnessed an outbreak of massive government directed programs to attack the Depression. They went by the various alphabet soup titles of CWA (Civil Works Administration), WPA (Works Progress Administration), PWA (Public Works Administration), NRA (National Recovery Act), TVA (Tennessee Valley Authority), CCC (Civilian Conservation Corps) and more. Their purpose was to get people back to work, with federal intervention. But these were not make-work jobs. They were all vectored into either infrastructure development or ancillary services.

WPA alone built over 125,000 new buildings, including schools, public buildings and libraries; 20,000 miles of water mains; 1,000 new or renovated airports; 600,000 miles of urban and rural roads, etc. CCC built 47,000 bridges, and 200 large dams, in addition to the massive reforestation. CWA built 2,000 new levees, 9,000 miles of drainage and irrigation ditches, and 7,000 bridges. PWA built 11,000 miles of streets, 388 new bridges, 384 airports, 2,000 complete waterworks, power plants, dams, and canals.

However, much of the funding for the New Deal infrastructure came from the Reconstruction Finance Corporation (RFC), which had been created by the Hoover administration. The private banks refused to lend to the productive economy until after the outbreak of WWII. Franklin Roosevelt had a bill for an Infrastructure Bank, like that of Hamilton, Adams, et al, but could not get it through the Congress so he used the RFC as a national bank. It was funded through the Treasury, but functioned as a bank. It had revolving fund lending capabilities, was directed to infrastructure and industrial projects only, and had the independence to intervene directly into the physical economy. It became the largest source of credit in the economy. It also became the largest bank by far, and by 1940 was known as “the fourth branch of government.”

During the New Deal, the RFC deployed between $15 and $20 billion into the recovery effort. It gave WPA $1 billion at its founding to start public works projects and another $2 billion loan over time. RFC took over the municipal bonds held by the PWA and sold them on the markets to raise capital for the Public Works projects. The RFC directly helped fund the Hoover Dam, Grand Coulee Dam, Bonneville Dam, and the Mississippi flood control projects.

From 1933-1939, 70% of the new school buildings and 35% of the hospitals were funded by the RFC. The funding was done on the basis of long term 5-20 year loans at very low interest rates, and ultimately virtually all loans were repaid.

The RFC was crucial to reviving housing. It set up the Home Owners Loan Corporation (HOLC) with $200 million for its capital stock, and the HOLC ultimately refinanced 20% of all mortgages. RFC gave the Federal Housing Administration (FHA) $200 million for its capital, and the RFC created the Federal National Mortgage Association (Fannie Mae) to finance mortgages. Fannie Mae became the main purchaser of FHA mortgages.

The RFC also intervened to aid the farm economy, which at that time was the largest sector of the nation, and mired in deep depression. The key agency that supported decent prices for farm commodities was the Commodity Credit Corporation, which was created in 1933. It was entirely funded by the RFC, and allowed farmers to borrow money based on their crops at a much higher price. In 1933, the Commodity Credit Corporation had a lending capability of $1 billion backstopped by the RFC to save the farm sector.

The RFC was involved in many other farm projects, including the Rural Electric Administration. This agency brought electric power to rural America, created the electric cooperatives, and built the power lines. The Rural Electric Administration was almost entirely funded by the RFC.

During the New Deal period, virtually all RFC loans were repaid.

During WWII , the RFC was invaluable. It created numbers of subsidiaries including the Defense Plant Corporation (DPC), Metals Reserve Corporation, Rubber Reserve Corporation (RRC), and Defense Supplies Corporation (DSC).

The RFC loaned over $27 billion during the war. Between 1939 and 1941, when the United States was not at war, but Roosevelt saw the war approaching, there was little ability to get Congress to fund a military build-up. So FDR turned to the RFC, and it undertook the lion’s share of the industrial ramp-up that allowed the U.S. to enter the war with an already-functioning war economy.

The RFC-generated DPC built the entire machine tool industry during this period, spending nearly $2 billion to create an industry that was state of the art, and deploying tools into newly built factories.

DPC was at the center of building a military airplane industry virtually from scratch. It funded the construction of new, assembly line, war plane factories (including the gigantic Willow Run plant in Detroit). It also built most of the engine companies. Fourteen of the 15 engine plants that supplied the modern engines to the planes were funded by DPC.

The Rubber Reserve gathered in all the rubber available during the interwar period, and the DPC and DSC collaborated to build the synthetic rubber industry de novo. They built 51 new plants to furnish synthetic rubber to all areas of the war and civilian economies.

The list goes on. Suffice it to say, without the crucial role of FDR’s National Bank (i.e. the RFC) the ability to wage and win WWII would have been severely crippled or non -existent.

And again, virtually all of the loans generated by the RFC war industries were repaid or written off, and the agency either broke even or turned a profit. All of this was due to the rapid increase in productivity in the entire economy and the generation of real wealth. From 1940-45 Gross Domestic Product increased at over 10% per year, and productivity grew at 3-5% per year, rates that have not been achieved since.

Rediscovering a Genuine American System

Tue, 12 May 2020 02:42:54 GMT

Rediscovering a Genuine American System

Pictured here: The Second Bank of the United States. The building still stands in Philadelphia. This bank is a precedent for the National Infrastructure Bank proposed by the NIB Coalition.

A new article by Wells King in the "American Compass" website is interesting and important. The article was posted May 4, 2020, and is entitled, "Rediscovering a Genuine American System".

The website has a conservative slant, and the article urges conservatives to learn about the real economic history of the United States, specifically what was called by 19th century economists and political leaders, the "American System". Contrary to what popular opinion and the mainstream media might have you believe, the American System was NOT based on "free trade" - quite the opposite. It was based on a protectionist policy, combined with an Hamiltonian emphasis on supplying credit to industry, manufacturing, and what was called "internal improvements" like canals, roads, and railroads.

Alexander Hamilton, our first Treasury Secretary, was the genius behind the creation of the First Bank of the United States. Mr. King's article begins with U.S. statesman Henry Clay rising to defend the Second Bank of the United States.

The article makes no mention of the current proposal for a National Infrastructure Bank, championed by nibcoalition.com , which represents the modern day revival of the American System. But it does offer a refreshing and competent review of the American System, and as such is well worth the read.

You can read the entire article here: Rediscovering a Genuine American System by Wells King