As Introduced
135th General Assembly
Regular Session S. R. No. 358
2023-2024
Senator Ingram
A RESOLUTION
To urge Congress to pass H.R. 4052, the National 1
Infrastructure Bank Act of 2023. 2
BE IT RESOLVED BY THE SENATE OF THE STATE OF OHIO:
WHEREAS, Throughout our Nation's history, national banks 3
have played a crucial role in financing most of our Nation's 4
public infrastructure; and 5
WHEREAS, These national banks were created with broad 6
bipartisan support and financed the construction of roads, 7
turnpikes, bridges, and canals; the Transcontinental Railroad; 8
the Hoover Dam; rural electrification; manufacturing start-ups; 9
and rail, school, and farm improvements in every corner of our 10
country; and 11
WHEREAS, Investments created the conditions for improved 12
productivity, economic growth, and job creation; helped lift us 13
out of the Great Depression; and contributed to our victory in 14
World War II; and 15
WHEREAS, The American Society of Civil Engineers (ASCE), in 16
its 2021 Report Card and Failure to Act Series, estimated that 17
$6,109,000,000,000 is needed in this decade to meet all of our 18
country's infrastructure needs; and 19
WHEREAS, $3,483,000,000,000 is expected to be financed by 20
the federal government through its normal budget appropriations 21
S. R. No. 358 Page 2
As Introduced
process and by states, counties, cities, utilities, and port and 22
airport authorities through their general revenues, special 23
taxes, user fees, and borrowing. Even with this spending, a 24
financing gap of $2,626,000,000,000 remains. To close this gap, 25
our nation will need to increase investment, by all levels of 26
government, by 2025; and 27
WHEREAS, Investment is needed in roads, bridges, transit, 28
drinking water, wastewater and storm-water systems, schools, 29
electricity generation, transmission and distribution, aviation, 30
dams, levees, inland waterways, ports, passenger rail, public 31
parks and recreation, new affordable housing, a high-speed rail 32
network, affordable and complete broadband, and a new grid 33
overlay to transport renewable energy; and 34
WHEREAS, The investments are needed to drive science and 35
technology, to accommodate population growth, to establish long- 36
term energy savings, and to improve rural, urban, and low-income 37
areas; and 38
WHEREAS, H.R. 4052, the National Infrastructure Bank Act of 39
2023, has been introduced in the 118th Congress of the United 40
States, and is awaiting action in several committees of 41
Congress; now therefore be it 42
RESOLVED, That we, the members of the Senate of the 135th 43
General Assembly of the State of Ohio, in adopting this 44
Resolution, urge Congress to pass the National Infrastructure 45
Bank Act of 2023; and be it further 46
RESOLVED, That the Clerk of the Senate transmit a duly 47
authenticated copy of this Resolution to the President Pro 48
Tempore and Secretary of the United States Senate, the Speaker 49
and Clerk of the United States House of Representatives, the 50
members of the Ohio Congressional delegation, and the news media 51
of Ohio. 52