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Panel sends resolution urging Congress to create $5 trillion National Infrastructure Bank after close 14–12 vote
Summary
The committee reported House Resolution 173, which urges Congress to establish a National Infrastructure Bank capitalized at $5 trillion; the measure passed the committee by a 14–12 roll call after members debated the size of national debt and the merits of large‑scale borrowing for infrastructure.
The House Local Government Committee reported House Resolution 173 by a roll‑call vote of 14–12. The resolution urges the U.S. Congress to establish a National Infrastructure Bank to finance major infrastructure projects nationwide, modeled on prior national banks.
Representative Joe Cerisi, the resolution’s sponsor, told the committee that the measure asks Congress to create a bank capitalized at $5,000,000,000,000 to support bridges and other infrastructure projects. "We're asking them to establish a $5,000,000,000,000 bank that would be used for bridges and infrastructure across The United States," Cerisi said.
Supporters argued such a bank would finance long‑needed projects and produce economic returns. Representative Probst said the federal government has successfully established similar institutions in the past and that the resolution merely asks Congress to consider the idea. Opponents focused on the nation’s existing debt and the implications of adding large borrowing. Chairman Miller noted, "our current, national debt is about $36,800,000,000,000," and urged a no vote given the proposed bank’s size.
Representative Fleming moved to report the resolution. After debate, the committee recorded a 14–12 vote in favor and sent the resolution to the floor.
