CITY OF SEATTLE
RESOLUTION __________________
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A RESOLUTION requesting the United States Congress and the President pass and sign legislation creating a National Infrastructure Bank.
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WHEREAS, the American Society of Civil Engineers in its 2021 infrastructure report card rated the current state of infrastructure in the United States at C-minus and indicated that $6.1 trillion would be needed to restore the nation's infrastructure to a state of good repair; and
WHEREAS, the American Society of Civil Engineers stated that newer projects and over $2.6 trillion worth of corrective projects are currently unfunded, and the remaining projects are not adequately funded; and
WHEREAS, Congress took a step forward in 2021 passing the Infrastructure Improvement and Jobs Act, providing $1.2 trillion in transportation investments, but it does not come close to meeting the current need reported by the American Society of Civil Engineers; and
WHEREAS, the American Society of Civil Engineers' Seattle, Tacoma-Olympia, and Inland Empire sections in 2019 rated the current state of infrastructure in Washington at C, with drinking water, roads, transit, stormwater, and wastewater receiving a rating of C-minus or worse; and
WHEREAS, Washington's cities, counties, ports, and business associations in a 2019 report identified more than $222 billion in infrastructure needs throughout Washington including highways, bridges, freight rail, ports, airports, rural broadband, and energy; and
WHEREAS, Washington needs financing capacity to build 21st-century infrastructure, including high-speed rail, renewable energy conversion, public housing, and other projects, but many new and visionary projects will not be able to secure funding through traditional commercial investment banking processes and will remain unfunded; and
WHEREAS, a new national infrastructure bank could directly aid in fostering an economic recovery and build necessary infrastructure projects; and
WHEREAS, U.S. Represe...
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