Bill > AJR22

This resolution strongly encourages the United States Congress to establish a Federal Infrastructure Bank (FIB) to address critical infrastructure needs across the country. The resolution highlights the American Society of Civil Engineers' assessment that U.S. infrastructure currently receives a C grade, with a documented $3.7 trillion gap between projected infrastructure needs and likely investment. Specifically focusing on California, the resolution notes significant challenges in infrastructure, including aging bridges, congested urban areas, and deteriorating water and dam systems. The proposed Federal Infrastructure Bank, based on H.R. 4052, would create a mechanism to finance infrastructure projects without requiring new federal spending or taxes, instead being capitalized by repurposing existing Treasury debt. The resolution emphasizes that such an infrastructure bank would create an estimated 25 million new jobs, follow Davis-Bacon wage standards, include "buy American" provisions, prioritize minority hiring, and potentially grow the economy by 5% annually. The measure is modeled on historical infrastructure banks that helped develop the nation's infrastructure during periods like the post-Revolutionary era and the Great Depression, and has garnered support from various state legislatures, city councils, and national organizations. The resolution calls for the Chief Clerk of the Assembly to distribute copies of this resolution to key federal government officials.

Transportation and Infrastructure

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260AJR22