National Infrastructure Bank Introduced into the House of Representatives
June 7, 2020
On March 31, 2020, Representative Danny Davis (D-IL-7) introduced H.R. 6422 into the United States House of Representatives. The bill is entitled, "The National Infrastructure Bank Act of 2020". It is co-sponsored by Rep. Seth Moulton (D-MA-6).
The bill has the following characteristics:
- It will be capitalized with $500 Billion in U.S. Treasury securities of 3 years or greater maturity
- The lending capacity of the Bank will be $4 Trillion
- Loans for projects will carry a maximum of 2% interest
- Credit will be extended only for infrastructure projects
- No new taxes are needed
- No new federal debt will be incurred
- The Bank will be budget neutral
A conservative estimate of the number of jobs created by these infrastructure projects is 25 Million.
You can access a more complete summary of the bill on this website under Bullet Summary of the Bank.
A copy of the bill along with its current status can be accessed here: H.R. 6422 National Infrastructure Bank Act of 2020 on Congress.gov
Call your Congressman and urge him or her to support H.R. 6422!
Call 202-224-3121
Coalition for a National Infrastructure Bank
P.O. Box 1029
Leesburg, VA 20177
info@nibcoalition.com