National Infrastructure Bank Act of 2025
Sponsored By: Representative Davis (IL)
Introduced
Summary
Creates a National Infrastructure Bank to mobilize public and private capital for long‑term projects across transportation, energy, water, broadband, and affordable housing. The bank would use loans, preferred stock, and bonds with a Treasury backstop to finance multiregion projects and subsidize work in disadvantaged communities.
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Bill Overview
Analyzed Economic Effects
14 provisions identified: 9 benefits, 0 costs, 5 mixed.
Charitable tax break for Bank donations
If enacted, donations to the Bank would count as charitable gifts. Taxpayers who itemize could deduct them under normal limits. This would apply to tax years ending after enactment.
Bank capital up to $500 billion
If enacted, the Bank could raise up to $500 billion in capital stock. People could exchange long‑term Treasuries or municipal bonds, or use cash, to buy shares. The Treasury could subscribe up to $100 billion in 30‑year bonds if needed. Capital would phase in: up to $150 billion by year 1, $300 billion by year 3, and $500 billion by year 5.
$5 trillion for infrastructure loans
If enacted, the Bank could lend up to $5 trillion for projects. Interest would be at least the similar Treasury rate or 1.6% a year. Disadvantaged communities could get interest subsidies if funds are available. The Bank would charge fees and could extend or renew loans only after audits and Board review. Losses beyond the Bank’s own reserves would be covered by the Treasury as a contingent obligation.
10% for disadvantaged small businesses
If enacted, at least 10% of the Bank’s yearly assistance would go through disadvantaged or HUBZone small firms. The minimum would be 10% of the Bank’s total assistance each year.
Strong oversight and public reporting
If enacted, a Special Inspector General would be appointed to audit and investigate the Bank and report each year. Agencies would need to assist the Inspector General. The Bank would post funded projects and amounts online and allow at least 30 days for public comment before final financing. The Bank would get yearly independent audits, and GAO would issue a review within five years.
How projects apply and get picked
If enacted, states, local governments, tribes, public utilities, private entities, and public‑private partnerships could apply online. The Bank would rate projects on jobs, growth, training programs, environmental and health benefits, domestic materials, and fit with regional plans. At least seven regional planning groups would help build project pipelines with public input. The Bank would also work with federal and state agencies to avoid duplicate efforts.
Startup funding to launch the Bank
If enacted, the bill would authorize $50 million for 2025 and $50 million for 2026. The funds would organize the Bank, set up the Board, and hire staff.
U.S.-backed bonds for the Bank
If enacted, the Bank could issue 5- to 10‑year registered bonds backed by the full faith and credit of the United States. It could keep a discount line with the Federal Reserve and borrow in markets. This would give the Bank steady funding options for projects.
Bank would be tax‑exempt
If enacted, the Bank would be added to the list of tax‑exempt Government corporations. It would not pay federal income tax for tax years ending after enactment.
Tax‑free dividends on Bank shares
If enacted, the Bank would issue preferred stock that pays semiannual dividends. Those dividends would be excluded from gross income for tax years ending after enactment. Shares would be non‑voting and callable for 20 years at current market value, with a redemption guarantee. Dividend rates would follow rules based on how shares are acquired.
Worker pay, hiring, and Buy America
If enacted, workers on Bank‑funded projects would be paid local prevailing wages. Covered States would require project labor agreements; other States must allow voluntary bargaining. Projects would use local and priority hiring and work with apprenticeship or workforce boards. Civil‑rights rules would apply to funding, hiring, and contracting. Buy America rules would apply, which could boost U.S. suppliers and affect project costs.
Bank deposits, not consumer loans
If enacted, the Bank could take deposits, pay interest, and handle clearing and payments. It would open offices and work with local banks, and avoid competing where locals offer the service. Its reserves could not exceed 14% of transaction accounts over $25 million. It would be barred from consumer lending and from investment banking.
Special budget and debt rules
If enacted, loans under this Act would not follow a key federal credit‑reform rule. For PAYGO, budget effects would follow the House Budget Committee’s printed statement before the vote. Bank debt would not be treated as a priority federal claim under a specific law.
State permits and compliance still required
If enacted, Bank funding would not replace State or local permits. States could still regulate investor returns and keep their own project rules. The Bank would require borrowers, contractors, and subcontractors to follow all applicable laws and confirm compliance in writing.
Sponsors & CoSponsors
Sponsor
Davis (IL)
IL • D
Cosponsors
Velazquez
NY • D
Sponsored 9/15/2025
Frost
FL • D
Sponsored 9/15/2025
Landsman
OH • D
Sponsored 9/15/2025
Suozzi
NY • D
Sponsored 9/15/2025
McGovern
MA • D
Sponsored 9/15/2025
Ramirez
IL • D
Sponsored 9/15/2025
Amo
RI • D
Sponsored 9/15/2025
Smith (WA)
WA • D
Sponsored 9/15/2025
Espaillat
NY • D
Sponsored 9/15/2025
Lynch
MA • D
Sponsored 9/15/2025
Tonko
NY • D
Sponsored 9/15/2025
Pingree
ME • D
Sponsored 9/15/2025
Magaziner
RI • D
Sponsored 9/15/2025
Cleaver
MO • D
Sponsored 9/15/2025
Deluzio
PA • D
Sponsored 9/15/2025
Garamendi
CA • D
Sponsored 9/15/2025
Mullin
CA • D
Sponsored 9/15/2025
Tlaib
MI • D
Sponsored 9/15/2025
Khanna
CA • D
Sponsored 9/15/2025
Thanedar
MI • D
Sponsored 9/15/2025
Kaptur
OH • D
Sponsored 9/15/2025
Jackson (IL)
IL • D
Sponsored 9/15/2025
Johnson (GA)
GA • D
Sponsored 9/15/2025
Torres (NY)
NY • D
Sponsored 9/15/2025
Goldman (NY)
NY • D
Sponsored 9/15/2025
Nadler
NY • D
Sponsored 9/15/2025
Latimer
NY • D
Sponsored 9/15/2025
Ryan
NY • D
Sponsored 9/15/2025
Garcia (IL)
IL • D
Sponsored 9/15/2025
Evans (PA)
PA • D
Sponsored 9/15/2025
Carson
IN • D
Sponsored 9/15/2025
Del. Norton, Eleanor Holmes [D-DC-At Large]
DC • D
Sponsored 9/15/2025
Boyle (PA)
PA • D
Sponsored 10/8/2025
Lee (PA)
PA • D
Sponsored 10/8/2025
Kennedy (NY)
NY • D
Sponsored 10/8/2025
Jayapal
WA • D
Sponsored 10/8/2025
Lofgren
CA • D
Sponsored 10/8/2025
Ross
NC • D
Sponsored 10/8/2025
Dingell
MI • D
Sponsored 11/19/2025
Panetta
CA • D
Sponsored 11/19/2025
Foushee
NC • D
Sponsored 11/19/2025
Leger Fernandez
NM • D
Sponsored 11/19/2025
Cherfilus-McCormick
FL • D
Sponsored 11/19/2025
Stansbury
NM • D
Sponsored 11/19/2025
Jacobs
CA • D
Sponsored 11/20/2025
Vasquez
NM • D
Sponsored 11/20/2025
Friedman
CA • D
Sponsored 11/20/2025
Watson Coleman
NJ • D
Sponsored 11/20/2025
Mannion
NY • D
Sponsored 12/4/2025
Ocasio-Cortez
NY • D
Sponsored 1/12/2026
Adams
NC • D
Sponsored 1/12/2026
Bell
MO • D
Sponsored 1/20/2026
McClellan
VA • D
Sponsored 1/20/2026
Swalwell
CA • D
Sponsored 3/3/2026
Thompson (MS)
MS • D
Sponsored 3/3/2026
Simon
CA • D
Sponsored 3/3/2026
Brown
OH • D
Sponsored 3/3/2026
Roll Call Votes
No roll call votes available for this bill.
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