The American Sustainable Business Council calls for constituents to support the National Infrastructure Bank Act of 2020 (HR 6422), introduced March 31, 2020 by Rep. Danny Davis. The proposed bank, similar to Roosevelt’s Reconstruction Finance Corporation, is to be capitalized with existing U.S. Treasury bonds and would accept deposits from individuals, corporations or public entities. The bill has been referred to the Subcommittee on National Parks, Forests, and Public Lands.
The ASBC petition reads:
“We can no longer sit idly by while our nation’s infrastructure crumbles and millions of Americans remain jobless. The National Infrastructure Bank (NIB) Act (HR 6422) is essential to our COVID-19 economic recovery. By leveraging public funds and private dollars to invest in infrastructure – such as transportation, water resources, environmental, energy, telecommunications and SMART Cities infrastructure, and public facilities projects – the NIB would create 25 million high-paying, permanent jobs without incurring additional debt or raising taxes. … ”