U.S. Chamber Letter on H.R. 132, "North American Development Bank Improvement Act of 2019"

Tuesday, October 15, 2019 - 5:15pm

 

TO THE MEMBERS OF THE U.S. HOUSE OF REPRESENTATIVES:

          The U.S. Chamber of Commerce supports H.R. 132, the “North American Development Bank Improvement Act of 2019,” and we hope this legislation is considered this year.

          Persistent water and wastewater challenges along the U.S.-Mexico border continue to affect our member companies and the communities where they operate. Hundreds of millions of gallons of sewage have reached the U.S., resulting in countless beach closures and public health concerns for residents, businesses, and military bases along the border.

          H.R. 132 is a necessary step in the right direction. This legislation would ensure that key financial tools are in place to drive development, leverage private investment, and implement needed projects.

          The bill would authorize the United States government to purchase 150,000 additional shares of the North American Development Bank’s capital stock, increasing the Bank’s capitalization to $1.5 billion. This legislation would also direct the U.S. government to use its seat on the Bank’s board to prioritize funding infrastructure projects that address water and wastewater pollution. These types of projects are needed to mitigate the pollution affecting U.S. and Mexican border communities alike.

          We stand ready to work with you as Congress considers this important proposal. For additional information, please contact Chuck Chaitovitz, the Chamber’s Vice President for Environmental Affairs and Sustainability, at cchaitovitz@uschamber.com or at (202) 463-5316.  

Sincerely,

Neil L. Bradley