HR5356119th CongressWALLET

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.

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

Roll Call Votes

No roll call votes available for this bill.

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