; and improvements in rural, urban, and low-income areas that the public and private sectors are not currently serving. (6) Although Federal grant programs, along with matching State and local funding, should continue to play a coordinating role in financing infrastructure in the United States, current and foreseeable demands on existing Federal, State, and local budgets exceed the resources to support these programs by a wide margin. In addition, a sharp bout of inflation in 2021–2022, and postponement of a robust 10-year spending plan to 2024–2033, requires a 40-percent increase above real costs to ensure adequate funding in nominal dollars. (7) The establishment of a United States public deposit money bank would provide direct loans and other financing of up to $5,000,000,000,000 for qualifying infrastructure projects without requiring additional Federal taxes or deficits. Such funding would be adequate to finance all of the United States’ unfunded infrastructure needs, in all parts of the country, according to well-developed strategic plans. At the same time, it would return the United States to its most recent golden age when a National Infrastructure Bank was in place (1933–1957), during which time total factor productivity advanced by 3.5 percent per year, the economy grew on average 5.5 percent per year, income inequality fell by one-third, and Federal and State tax receipts rose dramatically. I Revenue provisions 101. Treatment of National Infrastructure Bank as a Government corporation exempt from tax (a) In general Section 501(l) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph: (5) The National Infrastructure Bank established under title II of the National Infrastructure Bank Act of 2023 . . (b) Effective date The amendment made by this section shall apply to taxable years ending after the date of the enactment of this Act. 102. Treatment of contributions to the National Infrastructure Bank as charitable contributions (a) In general Section 170(c) of the