Dear Speaker Pelosi, Leader Hoyer, and Leader McCarthy:
We urge the House to consider H.R. 3779, the “Resilience Revolving Loan Fund Act of 2019,” under suspension of the rules. Promoting modern, smart, and resilient infrastructure is a key policy priority for our members representing the business community; conservation, engineering, and parks professionals; and mayors along the Mississippi Basin.
We believe that investments in predisaster mitigation for a host of challenges (e.g., droughts, floods, wildfire, and other natural and manmade disasters and extreme weather) facing communities and companies across the United States would save taxpayer dollars and are good public policy.
Resilience and mitigation spending pays back to the taxpayer more than $6.00 for every $1.00 invested. The ongoing effects from disasters will multiply the existing infrastructure investment gap and economic risks we face from failing to support critical infrastructure, the potential of nearly $4 trillion in lost GDP and 2.5 million jobs. H.R. 3779 would offer needed flexibility and another tool for states to provide low interest loans for projects that have the greatest effect and reduce future risks. The Mississippi River Valley alone sustained over $2 billion in actual losses in 2019 due to just one disaster. We must act now on sustainable solutions.
There is broad bipartisan and public-private stakeholder support for this legislation. Therefore, we ask that it be brought to House floor for immediate consideration under suspension of the rules.
Thank you for your leadership.
American Council of Engineering Companies
The American Institute of Architects
American Society of Civil Engineers
American Society of Landscape Architects
City Parks Alliance
Ecological Restoration Business Association
Interstate Council on Water Policy
Mississippi Rivers Cities and Towns Initiative
National Recreation and Park Association
The Nature Conservancy
U.S. Chamber of Commerce