Proposed Legislation Sets Timeline for San Francisco Public Bank
One task force down, two to go in San Francisco’s quest for a public bank.
Armed with permission from the state, San Francisco may soon establish it’s second task force on the topic thanks to legislation introduced by Supervisor Sandra Lee Fewer on Tuesday. A previous task force met for nearly a year simply to discuss the feasibility.
Moving San Francisco’s money from Wall Street banks into its own bank would allow the city to choose how taxpayer funds are invested, advocates say. Instead of private prisons and oil pipelines, the city could pick something more in line with its priorities, like affordable housing and renewable energy.
“A public bank in San Francisco would allow the city to have more local control, transparency, self-determination, and deepen critical community investments in affordable housing, small business development, loans to low-income households, public infrastructure, renewable energy, and addressing the student debt crisis,” Fewer said in a statement. “San Francisco should lead the pack in this effort, and today’s legislation moves us one step closer to realizing the creation of a public bank.”
Read more: https://www.sfweekly.com/news/proposed-legislation-sets-timeline-for-s-f-public-bank/
= new reply since forum marked as read
