Issue Position: Sustainable Economic Development

Issue Position

Every state, county and city in the US holds its rainy day funds in a too-big-to-fail bank and those taxpayer funds are invested on Wall Street for the good of the banks' shareholders. The only exception in the US is the state of North Dakota, which established a public bank during the first American Progressive Era in 1919. Through a community bank/public bank partnership loans can be made in the public interest to grow new businesses, expand existing businesses, and create good-paying jobs. The modest interest earned by these loans can be used to fund debt-free infrastructure, public education, and community services like libraries, community centers, and pools.

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