NIB December 14, 2023 Zoom Town Hall

Public Banking Institute Chair Ellen Brown, Rhode Island Representative Arthur Handy, and Economist Dr. Andrew Winnick were joined by other elected officials on December 14, 2023 for a Zoom Town Hall “Congress Fiddles While the Budget Burns.” 

• Despite rosy pronouncements emanating from various quarters touting the strength of the US economy, underlying, deep problems remain. The most distressing signs are in the budget, or lack thereof. Since May, Congress has continually “kicked the can down the road” and resolved nothing. On January 19, 2024, Congress will again battle over the budget, with the likelihood that nothing will be done. Urgently needed spending goes unmet. 
• On November 30, the Environmental Protection Agency (EPA) issued a mandate that all lead service water lines (LWSL) must be replaced in ten years. There are at least 9 million lines needing replacement which will cost over $100 billion. The Bipartisan Infrastructure Law (BIL) allocates $15 billion.
• One in three bridges needs to be repaired or replaced, according to ARTBA, and 7 percent are structurally deficient which will require over $250 billion. 
• EPA estimates that drinking water and wastewater systems will require at least $744 billion in additional investment over the next decade
• A national shortage of 7.3 million affordable and available rental homes for extremely low-income renters will cost at least $700 billion. 
• A full US High-Speed Rail System will cost over $1 trillion. The BIL recently awarded $6 billion to partially fund two projects. 

All the participants detailed how HR4052, the National Infrastructure Bank Act of 2023, would create a $5 trillion infrastructure-only bank to address all these needs and more. It will complement the BIL but be permanent and ten times larger. Best of all, the National Infrastructure Bank (NIB) will require no new federal spending or federal taxes. Watch here or below.

HR4052 currently has twenty-one sponsors, with an active campaign to seek many more. The NIB arrives just in time for Christmas. Give the gift that will never stop giving. And, spread the good word!!

Speakers: 

Ellen Brown, Esq., Author and Chair Public Banking Institute, Los Angeles, CA

Representative Arthur Handy, Deputy Majority Leader, Rhode Island House, Cranston, RI

Dr. Andrew Winnick, former Professor of Economics and Monetary Policy, Cal State; former staff Presidents’ Council of Economic Advisors, Los Angeles, CA

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

Representative James Beverly, Georgia House, Macon, GA

Keith Sokolowski, Legislative Staff. Alderman Debra Silverstein, Chicago, IL

Conor Berdy, Legislative Staff, Rep. Kimberly Edwards, Michigan House, Warren, MI

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

Moderator: Robert Lynn, Jr, Secretary, Jobs with Justice, Toledo; former Organizer, United Association of Plumbers and Steamfitters Local 50; Toledo, OH