PENNSYLVANIA, July 8 - WHEREAS, The last Federal bank with the similar objective of

funding infrastructure in the United States helped bring the

country out of the Great Depression and achieve our victory in

World War II; and

WHEREAS, The proposed $5 trillion bank would have

authorization to invest only in infrastructure projects, be

capitalized by existing Treasury debt and require no new Federal

spending or the imposition of new taxes; and

WHEREAS, The NIB would create an estimated 25 million new

jobs, pay prevailing wages and include "Buy America" provisions

and award a significant number of contracts to disadvantaged

business enterprises; and

WHEREAS, As its predecessors did, and according to experts,

the NIB is projected to grow the Federal economy by 5% per year;

and

WHEREAS, Thirty state legislatures have introduced or passed

resolutions of support, as have county and city councils; and

WHEREAS, National endorsements of the NIB include the:

(1) National Black Caucus of State Legislators;

(2) National Asian-Pacific American Caucus of State

Legislators;

(3) Council of State Governments-East Region;

(4) National Association of Development Organizations -

all 541 Regional Planning Commissions;

(5) National Association of Counties; and

(6) United Association of Plumbers and Steamfitters;

and

WHEREAS, Pennsylvania endorsements of the NIB include:

(1) The City of Pittsburgh;

(2) The City of Philadelphia;

20250SR0132PN1034 - 3 -

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

26

27

28

29

30