Update on McGuire and AB 857

[Shelly]

Dear Friends of Public Banking,

I am sending out a brief update to the email below that was sent out this past week by the California Public Banking Alliance. The voter referendum amendment that was referred to in this email was passed onto the Senate Governance and Finance Committee that Senator McGuire chairs, by the previous Senate Banking and Financial Institutions Committee. This referendum amendment was punted to Senator McGuire’s desk without his say.

The California Public Banking Alliance and our AB 857 bill authors Asm. Miguel Santiago and Asm. David Chiu are in active negotiations with Senator McGuire and we trust that we will be able to reach a solution that will not add an unnecessary barrier for cities and counties looking to create public banks. 

We thank Senator McGuire for working with the California Public Banking Alliance and very much value his on-going support for the progressive values of the people of Senate District 2."

The California Public Banking Alliance will provide updates soon. We ask supporters to please hold on calling McGuire’s office while negotiations are taking place. 

 

To our collective best always,

 

Shelly Browning

Friends of Public Banking Santa Rosa

"Given the magnitude of the task, everyone has to step up their game." ~ Bill McKibben

-------- Original Message --------
Subject: [OSC Earth Action] Fwd: Extremely Urgent! NO Referendum on
Public Banking!!
From: Hoai-An <katy...@gmail.com>
Date: Wed, June 26, 2019 7:50 pm
To: divestment-california <divestment...@googlegroups.com>,
ClimateActivists-SC <ClimateAc...@googlegroups.com>, OSC Earth
Action <osc_eart...@googlegroups.com>, May 1st Coalition
<may1st-c...@googlegroups.com>, "AJR (Alliance for a Just
Recovery)" <alliance4j...@googlegroups.com>, Peace and Justice
Center of Sonoma County <peac...@sonic.net>

A public referendum on public banking would allow Wall Street to pour MILLIONS into opposing public banks which we cannot afford. For your community's sake, please take one or more of the following actions now!

---------- Forwarded message ---------
From: California Public Banking Alliance <cal...@gmail.com>
Date: Wed, Jun 26, 2019 at 6:59 AM
Subject: AB 857 Passes the First Senate Committee! Urgent Action Needed!

View this email in your browser AB 857 Advances in the Senate!   Last Wednesday, the Public Banking Act, AB 857, passed the Senate Banking & Financial Institutions committee! Our grassroots-initiated bill has now made it through three Assembly committees, the Assembly floor and now our first Senate committee. Our next challenge is the Senate Governance & Finance committee hearing next Wednesday (July 3). We need your help on an emergency action. Senator Mike McGuire wants to add a voter referendum amendment that will make it difficult for cities and counties to create public banks. If you are a constituent in Senator McGuire's district, we need you to call (916) 651-4002 immediately and simply tell the staffer: "As a constituent, I urge the Senator to vote YES on AB 857, WITHOUT the referendum amendment."  Optional talking points: Remove the amendment requiring local governments to do a referendum on the viability study. Voters do not have the expertise to evaluate a business plan/viability study and cannot be expected to vote on it. A viability study should be voted on by our elected representation in city council, not the general public.  Requiring a public vote will allow Wall Street to outspend grassroots campaigns in elections. Public bank supporters don’t have the deep pockets Wall Street does. This is an unfair hurdle. Senator McGuire's District 2: If you live in one of the other Senators' districts, please make a quick call to their Capitol office. It takes just 2 minutes to tell the staffer your name, zip code, and “As a constituent, I’m urging the Senator to support AB 857, the Public Banking Act.” If your Senator isn't on the Governance & Finance committee, you can still help by calling your Senator and urging their support on the Senate floor. Find your Senator here, find their Capitol phone here. Thanks to grassroots people power from across the state, we’re nearly there. We have the momentum on our side to win the fight against Wall Street! #PublicBanksNow Copyright ©  2019 California Public Banking Alliance, All rights reserved. Our mailing address is: Social Good Fund for California Public Banking Alliance PO Box 5473 Richmond, CA 94805

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