A team from the Coalition for a National Infrastructure Bank (NIB) attended the National Conference of State Legislatures (NCSL), Indianapolis Summit August 15-16. In the spirit of the American Revolution, Alexander Hamilton’s National Banking concept was brought to thousands of state representatives in attendance. There was a resolution introduced into the conference in support of a current bill in the U.S. Congress, H.R.4052. This landmark legislation would create a $5 trillion National Infrastructure Bank. 

There was a debate at the Natural Resources and Infrastructure Committee where the resolution was presented. While the resolution was ultimately defeated, it was the only resolution that precipitated a very spirited debate. The impact of the debate resonated throughout the convention. Dozens of discussions of this unique policy were conducted in the halls of the convention center and was raised from the floor in two other forums. 



Many of the participants were unfamiliar with the legislation so this was a chance to bring it to their attention. While many of the legislators in attendance and the Coalition support the Bipartisan Infrastructure Law (BIL), everyone agreed that the BIL is too small and will expire in a little over three years. Nobody else has a “Plan B”. Additionally, the current infrastructure needs of the states and cities dwarfs the allocation in the BIL. The idea of a permanent, stand-alone, bank was very appealing to many of the legislators. 

At one forum, the bank bill and its potential impact was the subject of a question from the floor by a Coalition representative. Again, this led to another series of public exchanges on the merits of the proposal. There were, of course, several lines of opposition. These ranged from the “let the market decide what infrastructure is built; keep the federal government out of this”, to those committed to spending only through the budget. This latter approach became increasingly hard to defend against the persistent budget deficits plaguing the federal budget. Hence the NIB looked pretty darn good. 

One unexpected opportunity presented itself in a scheduled forum, entitled, “Leadership Lessons from ‘Hamilton.’” This entertaining and politically provocative forum spliced together the most poignant quotes with music from the “Hamilton” play and put them on the screen with the music playing in the background. The audience sang along as many had seen the Broadway musical. The forum encouraged the state legislators to think and act like the courageous young Alexander Hamilton. The repeated musical refrain, “Take your shot . . . One shot . . .Don’t throw away your shot,” set up the perfect moment for our NIB organizer to intervene. 

Right after the moderator asked the question, “How would you define your movement?” the NIB organizer seized the moment. She jumped up and said, “Can I take my shot?” The chair enthusiastically let her address the entire body. She “rose to the occasion” and alerted the attendees to the existence of a bill in Congress modeled explicitly on Alexander Hamilton’s original bill creating a National Bank. The organizer vigorously gave the historical precedent for the bank, and outlined the many benefits of H.R. 4052. She finished on a high note, challenging the audience to join the effort: “This is our chance to put the U.S. back on the map as a great manufacturing and industrial nation, just as Hamilton intended; please join the effort to pass this bill.”

In a split second response, the moderator interrupted, “Alright, there’s your movement.” Following the impromptu remarks, the NIB representative made available literature to all the participants in the room. 

Today, just as in 1776, this is our moment to continue Hamilton’s revolution. Go ahead, take your shot, help us pass H.R.4052.

FORUM BILLBOARD