COVID-19 and Public Banks
Tell Congress to Use Federal Recovery Funds for Public Banks not Wall Street!
As the federal response to the pandemic unfolds, one thing is clear: we cannot go back to business as usual. The lion’s share of federal relief funds are going to big corporations on Wall Street and not working-class and middle-class households on Main Street. We need to ensure that economic responses put people over profits by directly helping individuals, families, and communities.
State and local governments are on the front line in responding to the COVID-19 pandemic, both in terms of making public health decisions and providing for the delivery and financing of key public services, including critical health services. Yet states and localities have limited fiscal resources, even as the federal government directs trillions in assistance to less essential areas of the financial markets.
Now is the time to contact your representatives in Congress and let them know that public funding for pandemic relief belongs to the public!
Send a letter to your Congressional Rep today and urge them to use federal recovery funds to capitalize public banks. We need public banks to empower Main Street, not Wall Street.
URGENT ACTION ITEM: Send a quick email to Congress NOW via our Action Network campaign.
Spread the word:
We need public banks everywhere.
We need to get the words “public banks” everywhere, and into everyone’s documents and legislation—governors giving daily briefings, representatives at the federal, state, and local levels, candidates working to change the status quo, reporters reaching for hopeful articles, pundits wanting to present solutions: they all need to be including public banks in their thinking, their speaking, and their writing.
We’ve created six brief bullet points below and a more comprehensive document on how to talk to elected officials and opinion makers about the benefits of public banking. We’re working on strategies to get these documents in front of the people who need to see them.
And for that, we need you! Wherever you are, reach out to your elected officials’ town halls, to your local newspapers’ op-ed pages, and to your social media. Post, tweet, and share these documents. Bring up public banking wherever you see the opportunity.
Public Banking in the News!
The Hill: Public banking would help speed the economic recovery from COVID-19 by Rick Girling with the California Public Banking Alliance and Isaiah Poole.
Market Watch: Missing ingredient so far in coronavirus economic recovery plans: public banks by Timothy Knowles and Ameya Pawar.