Resolution to Create a Public Bank in Washington State

Versions of this resolution have been passed by numerous organizations including the Washington State Labor Council, the Washington State Democratic Party and the Washington State Progressive Caucus. We hope you will consider taking this resolution to your organization and then let us know when and who passed this resolution!
David Spring M. Ed. & Elizabeth Hanson M. Ed.
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Washington Public Bank

WHEREAS the voters approved Initiative 1351 in 2014 to hire thousands of teachers to lower class sizes in Washington state; and

WHEREAS one excuse used by members of the State legislature to avoid hiring thousands of teachers was the lack of classrooms; and

WHEREAS over half of the schools in Washington state are more than 50 years old and do not comply with current earth quake code or health code standards: and

WHEREAS lack of compliance with earthquake & health code standards places the safety of one million students & their teachers at risk in the event of a mega quake; and

WHEREAS replacing these schools and building enough new schools to hire 10,000 additional teachers is estimated to cost between $30 to $50 billion; and

WHEREAS creating a public bank to finance building schools would greatly lower the cost of building schools – saving tax payers billions of dollars; and

WHEREAS the public bank and building schools would be paid for by repealing a tax break used by billionaires to avoid paying their fair share of state taxes; and

WHEREAS building one thousand new urgently needed public schools would also create more than 100,000 living wage jobs; and

WHEREAS the state-owned public Bank of North Dakota has for more than 90 years served to stabilize the economy and build schools for the people of North Dakota; and

WHEREAS thanks to its public bank, North Dakota has a $1 billion budget surplus and has the nation’s lowest unemployment rate at 3.4%; and

WHEREAS over the last decade, the Bank of North Dakota, in a state of 600,000 population, has provided a third of a billion dollars to the state’s general fund; and

WHEREAS having our own state bank would allow us to keep our money working here creating jobs in Washington State instead of being shipped out of state; and

WHEREAS having our own public bank would also produce revenue to improve funding for public schools and other essential state services; and

THEREFORE BE IT RESOLVED that we call on the Washington State legislature to pass legislation to create a public bank here in Washington State.

Resolution passed by ___________________ on _______________________.