School Infrastructure Modernization Act of 2026

Mr. President, today I want to discuss legislation I am introducing, the School Infrastructure Modernization Act, with my colleague Senator Warner.

The Federal tax credit for historic preservation is a critical source of funding for renovating historic and aging buildings across the country. While the credit can often be used for turning an aging school building into a commercial building, such as an office or retail location, it is difficult to use the credit to rehabilitate a school while continuing to use it as a school postrenovations. The intent of this bill is to make it easier for schools to benefit from this funding while continuing to serve as a school.

As a Richmond city council member and later mayor, I faced challenges familiar to many municipalities--overcrowded schools, aging buildings, and limited dollars in the budget. But in one particular case, I and a group of local stakeholders identified a creative solution. On one hand, we had an overcrowded Thomas Jefferson High School with in-zone and magnet students. On the other hand, we had a closed Maggie Walker High School that needed renovations. We put together a financing package that made use of Federal and State historic tax credits to renovate Maggie Walker High School and satisfied the prior use rule by consolidating the magnet program from Thomas Jefferson into a new Maggie Walker Governor's School for Government and International Studies. Today, over 20 years later, this is one of America's highest performing public high schools. Without the Federal historic tax credit, this would have been too expensive to make happen.

This bill will make it easier to do similar projects around the country. More modern school buildings will bolster the quality of public education, and carrying out these projects will generate private sector infrastructure investment and jobs. In Virginia alone, according to a 2021 study, more than 1,000 K through 12 schools are at least 50 years old, representing more than half of all the K through 12 schools in the Commonwealth.

I encourage my colleagues to support this commonsense incentive that is good for education, good for infrastructure, and good for jobs.

Mr. President, today I want to discuss legislation I am introducing, the School Infrastructure Modernization Act, with my colleague Senator Warner.

The Federal tax credit for historic preservation is a critical source of funding for renovating historic and aging buildings across the country. While the credit can often be used for turning an aging school building into a commercial building, such as an office or retail location, it is difficult to use the credit to rehabilitate a school while continuing to use it as a school postrenovations. The intent of this bill is to make it easier for schools to benefit from this funding while continuing to serve as a school.

As a Richmond city council member and later mayor, I faced challenges familiar to many municipalities--overcrowded schools, aging buildings, and limited dollars in the budget. But in one particular case, I and a group of local stakeholders identified a creative solution. On one hand, we had an overcrowded Thomas Jefferson High School with in-zone and magnet students. On the other hand, we had a closed Maggie Walker High School that needed renovations. We put together a financing package that made use of Federal and State historic tax credits to renovate Maggie Walker High School and satisfied the prior use rule by consolidating the magnet program from Thomas Jefferson into a new Maggie Walker Governor's School for Government and International Studies. Today, over 20 years later, this is one of America's highest performing public high schools. Without the Federal historic tax credit, this would have been too expensive to make happen.

This bill will make it easier to do similar projects around the country. More modern school buildings will bolster the quality of public education, and carrying out these projects will generate private sector infrastructure investment and jobs. In Virginia alone, according to a 2021 study, more than 1,000 K through 12 schools are at least 50 years old, representing more than half of all the K through 12 schools in the Commonwealth.

I encourage my colleagues to support this commonsense incentive that is good for education, good for infrastructure, and good for jobs.

Mr. President, on the fertilizing bill, Trump's terrible economy has been anything but fertile ground for American farmers.

Today, along with Senator Klobuchar, I am announcing the Strategic Fertilizer Reserve Act to ensure farmers have access to the resources they

need to feed our Nation's people and our economy.

Our farmers are getting crushed from all sides by this administration. Trump's blunder in Iran has jacked up the price of fertilizer and diesel to record highs, making it harder for farmers to do their jobs, from planting to harvest.

Meanwhile, Trump's costly trade wars and tariffs have raised the cost of farm equipment and, worst of all, closed off markets for our farmers to sell their products. Farm bankruptcies are increasing because of the tariffs and the markets that Trump closed off.

Many farmers were already struggling to get by, and now 70 percent of them say they haven't been able to afford the fertilizer they need, all because of Trump's Iran war. Our bill directs the USDA to explore creating a strategic fertilizer reserve to help American farmers weather supply chain shocks by Trump's Iran war.

Farmers already have to deal with enough uncertainty as it is: unpredictable weather, inconsistent crop yields, unforeseen blights. They shouldn't have to factor in the chaos coming out of Trump's White House, on top of it all.

Soaring fertilizer costs squeeze farmers first, but it doesn't take long for that pain to hit American families at the grocery store.

Every Senator who cares about lowering costs, every Senator who cares about helping farmers in rural communities, every Senator, period, ought to get behind this legislation.

Mr. President, I ask unanimous consent that the text of the bill be printed in the Record.