Bill > HR3

This resolution urges the United States Congress to establish a National Infrastructure Bank (NIB) to fund critical infrastructure projects. The resolution highlights the significant need for infrastructure investment across the nation and specifically in Virginia, citing reports that estimate trillions of dollars are required to repair roads, bridges, water systems, and schools, and to address housing shortages. The proposed NIB, inspired by historical federal credit institutions, would be a $5 trillion bank authorized to invest solely in infrastructure, funded by existing Treasury securities without requiring new federal spending or taxes. Advocates believe this bank would create millions of jobs, adhere to labor and domestic sourcing requirements, and stimulate economic growth, with numerous organizations and several other state legislatures already supporting its creation.

https://lis.virginia.gov/bill-details/20261/HR3