As a concerned citizen, I am contacting you about the severe economic crisis that presently faces our nation. I am referring to both the deadly impact from the coronavirus, but also to the deeper economic conditions that will be made worse by today’s Coronavirus Recession whereby tens of millions of people may their jobs and businesses permanently.

 Today, we are all witnessing the effects of inadequate health care infrastructure to address the coronavirus pandemic. But, the negligence in not building other necessary infrastructure, whether it be in transportation/traffic congestion, water, power, schools, broadband, and more, and impacts every American life is now looming large on the horizon. Infrastructure needs trillions of dollars to re-build it, and that seems to be the last thing ever receives funding.

I was recently informed that there is draft legislation in the U.S. Congress calling for a $4 trillion National Infrastructure Bank. The proposed bank is modeled on Alexander Hamilton’s First Bank of the United States. Just like Hamilton’s bank, the NIB would be capitalized using privately-held Treasuries, thereby creating no new Federal debt. It would make loans primarily to state and local governments to build much-needed infrastructure in their areas, and would create over 25 million permanent jobs paying union-level, Davis-Bacon wages. As I understand, the bill is written to address infrastructure needs in every single state, urban, and rural area of the country as well as to addresses income disparities and discrimination in contract agreements.   

The bank has a great track record, as it was successfully used by four great U.S. presidents, George Washington, John Quincy Adams, Abraham Lincoln and Franklin Roosevelt. In circumstances similar to those of today, previous banks brought the country together at a time of disunity and economic strife. I believe that this bank could fulfill the same function now. 

People are tired of living in fear, not knowing whether a bridge they are driving on will collapse, or whether they will be contaminated by lead or other contaminants in their drinking water, or whether their children will die from a drug overdose. And soon, on account of the Coronavirus recession, folks may not even have a job to return to.

The need to build infrastructure, and create great-paying jobs, has been bandied about for too long. This is a concern for us all, and this is the right time to move, before some other crisis erupts.   

I urge you to support this proposed legislation and make our country one to be proud of again.

Thanks so much for your help and consideration. 

Regards,