State Rep. Bob Hasegawa’s legislation (HB 1320) to create the Washington State Investment Trust (WIT) is getting attention at the national level.
The Public Banking Institute (PBI), a non-partisan think-tank and research organization that explores and disseminates information on publicly-owned banks, stated that Hasegawa’s bill is similar to measures currently studied or proposed in other states such as Massachusetts, Vermont, Maryland, Virginia, Illinois, Michigan, Oregon and Hawaii.
Ellen Brown, PBI president, said that the effort in Washington State, which is modeled after the 100-year old public Bank of North Dakota, is part of a growing nation-wide effort to “rescue state and municipal finances from a growing budget disaster.”
Go here to read PBI’s press release: Washington State joins Groundswell for Public Banking
Go here to read an op-ed by Ellen Brown: Washington State joins movement for public banking
Public hearings for Hasegawa’s measure, as well as its companion Senate bill, are scheduled for tomorrow, Tuesday, January 25:
Senate Financial Institutions, Housing & Insurance Committee
Tuesday, January 25th, 10:00 a.m. – 12:00 p.m.
Senate Hearing Room 2
House Business & Financial Services Committee
Tuesday, January 25th, 1:30 p.m. – 3:30 p.m.
House Hearing Room B
