Urges Congress to establish national infrastructure bank.

AR138

ASSEMBLY RESOLUTION No. 138

STATE OF NEW JERSEY

222nd LEGISLATURE

�

INTRODUCED MAY 14, 2026

Sponsored by:

Assemblywoman� CAROL A. MURPHY

District 7 (Burlington)

SYNOPSIS

���� Urges Congress to establish national infrastructure
bank.

CURRENT VERSION OF TEXT

���� As introduced.

��

An Assembly
Resolution
urging Congress to pass
legislation establishing a national infrastructure bank.

Whereas,

The development and maintenance of physical infrastructure including ports,
transit, levees, energy, telecommunications, utilities, and broadband
contribute significantly to the economy of the United States since an efficient
and reliable supply chain and other economic activity are dependent upon that
infrastructure; and

Whereas,

In addition to the overall positive impact on the nation�s economy and
America�s economic competitiveness and influence, infrastructure modernization
also benefits the national security of the United States, and Americans�
quality of life; and

Whereas,

In 2024, the American Society of Civil Engineers (ASCE) estimated a need of
nearly $6 trillion over a 10-year period for infrastructure improvements and
development in order for the United States to meet its infrastructure needs;
and

Whereas,

The National Academies of Sciences, Engineering and Medicine assert that a
significant portion of American transportation infrastructure is at the end of
its useful life and is further strained by the increasing frequency of extreme
weather events; and

Whereas,

In New Jersey, the replacement or repair of aging infrastructure is
particularly important because the State is a major thoroughfare for national
and international trade but, in some instances is reliant on century old
infrastructure to move millions of people and goods, particularly along the
northeast corridor which serves as a significant bottleneck for rail-based
commerce; and

Whereas,

The 2025 ASCE report card for New Jersey indicates that 22 percent of roads in
the State are in poor or fair condition, approximately six percent of the
bridges in the State were structurally deficient in 2024; and that there are 231
high-hazard dams; and

Whereas,

Current funding mechanisms for large scale, long-term, innovative
infrastructure projects are limited as project-based federal grants and siloed
transportation banks have proven to be insufficient to fill the gaps of our
expanding definition of infrastructure; and

Whereas,

Legislation currently pending in Congress as House Resolution 5356 (H.R.5356)
would charter a government-owned national bank that will create capital by
trading U.S. Treasury Bonds from private investors for preferred stock with a
guaranteed rate of return higher than the U.S. Treasury rate; and

Whereas,

The new bank would otherwise work in the same manner as a commercial bank,
generating wealth from interest on loan repayment by state and local
governments and interstate authorities; and

Whereas,

A government sponsored infrastructure bank is currently the primary funding
apparatus for many nations, including our direct economic competitors; and

Whereas,

The United States has previously relied on national banks at times of great
need to spur intrepid production, including the first and second national
banks, President Lincoln�s national banking system, and the Reconstruction
Finance Corporation established during the �New Deal� era by President Franklin
Roosevelt, and it must do so again to remain competitive in the global economy;
and

Whereas,

Failure to establish a dedicated, regenerative, nonpartisan funding mechanism
for grand infrastructure endeavors would stifle economic growth, public safety,
and American quality of life and would limit the ability of New Jersey and
other states to move forward on vital infrastructure projects; now, therefore,

����
Be It
Resolved
by the General Assembly of the State
of New Jersey:

���� 1.��� This House urges the
United States Congress to pass H.R.5356, establishing a national infrastructure
bank.

���� 2.��� Copies of this
resolution, as filed with the Secretary of State, shall be transmitted by the
Clerk of the General Assembly to the Majority and Minority Leaders of the
United States Senate, the Speaker and Minority Leaders of the United States
House of Representatives, and every member of Congress elected from New Jersey.

STATEMENT

���� This resolution respectfully
urges Congress to pass H.R.5356, establishing a national infrastructure bank.

���� American infrastructure is in
dire need of investment, as outlined by the American Society of Civil Engineers
and the National Academies of Sciences, Engineering, and Medicine.� Increasing
frequency of extreme weather events further strains infrastructure approaching
the end of its useful life.� In New Jersey alone, 22 percent of roads are in
poor or fair condition.� As host to a large portion of the northeast corridor,
New Jersey moves national and international trade, and millions of people each
day along deteriorating structures.

���� Nationally, broadband access,
modernization of the energy grid, and remediation of the water supply systems
are of paramount importance. �Economic vitality, national security, public
safety and quality of life, are dependent on sound infrastructure.� Current
funding mechanisms do not address the scope of the need.� Direct competitors of
the United States rely on an infrastructure funding method invented and
previously used by America.

���� H.R.5356 addresses funding
shortfalls for large, innovative infrastructure projects by establishing a
national infrastructure bank, perpetually generating funds in a manner similar
to a commercial bank. �A dedicated, regenerative, nonpartisan funding mechanism
is required to remedy inadequacies in our energy grid, transportation and other
systems, in addition to preparing us for a future of increasing extreme weather
conditions.