Former IMF, macroeconomist, Alphecca Muttardy, was joined by New Mexico State Senator William Tallman and New York Assemblywoman Jo Anne Simon and others for an organizing Zoom Town Hall “How to Beat the Congressional Budget Crisis: The National Infrastructure Bank Solution,” on October 19, 2023. 

The NIB Town Hall occurred as Congress plunges deeper into political and spending paralysis. On the contrary, support for H.R.4052, the National Infrastructure Bank Act, continues to expand. Introduced in late June, H.R.4052 now has 19 sponsors. Meetings with Congressional and state legislative offices are increasing.

Congress will face a new budget deadline on November 17. With a nearly $2 trillion budget shortfall, navigating this hurdle will be difficult. H.R.4052 could reverse the ongoing budget crisis. It would invest $5 trillion over ten years into the productive sectors of the economy, spearheaded by modernized and upgraded infrastructure. All with no new spending or debt! 

Two years ago, three bills passed Congress injecting new money into energy generation, CHIPS manufacturing and infrastructure. This was all to the good. However, the infrastructure deficit remains at $5-8 trillion of needed new money! Without a 21^st Century infrastructure, the economy will flounder.

Ms. Muttardy emphasized in her opening presentation that there is an alternative. “What we need is a budget work-around that can finance all of our current needs. Legislation in Congress – HR4052 that creates a $5 trillion National Infrastructure Bank – fits that bill. It is large enough to cover all of the financing gap, it will reach into every corner of the country to bolster economies and create great-paying jobs, and it won’t cost the budget a dime. Moreover, it’s a proven concept, invented by Americans, employed four times before in our nation’s past, and copied by other countries around the world.”

The National Infrastructure Bank will lean against the looming catastrophe. Otherwise, the country will limp from crisis to crisis. Please watch this crucial video and spread the word for the only solution on the table, H.R.4052. 

Speakers:

Alphecca Muttardy, former Senior Economist, International Monetary Fund, Fairfax, VA 

Senator William Tallman, New Mexico Senate, Albuquerque NM

Assemblywoman Jo Anne Simon, Esq, New York Assembly, Brooklyn NY 

Dr. Andrew Winnick, retired Professor Emeritus of Macro-Economics and Monetary Theory, Cal State University, Los Angeles, CA

Representative Carrie Rheingans, Michigan House of Representatives, Ann Arbor, MI

Representative Felicia Robinson, Florida House of Representatives, Miami Gardens, FL

Janet Diaz, Lancaster City Council, Chair, Latino Caucus, Pennsylvania Democratic Party, Lancaster PA

Craig Swartz, Chair, Rural Caucus, Ohio Democratic Party, Upper Sandusky, OH

Moderator: Julie Olsen, Chair, Progressive Caucus, Alaska Democratic Party, Anchorage, AK