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