AB 857 Public Banking Bill -- PASSED the Assembly!!

[Hoai-An]

The California Public Banking Act #AB857 PASSED THE ASSEMBLY!

On to the Senate!

A short while ago, the California State Assembly voted to pass AB 857, the local public banking bill! It received 41 Yes votes, the bare minimum needed to keep the bill alive. Our work in Sacramento isn't done—now it's on to the Senate. But now we're taking some time to savor this hard-won victory.

Extraordinary work, everyone! Thank you for your work on this! Stay tuned for the next step! The big banks are going to come after us. We are asking for all hands on deck!

Public banks help our municipalities to defund the fossil fuel industry, prison labor, detention centers and more. Public banks can help us put money back into our communities. A lot is at stake here, which is why two years after the camps at Standing Rock burned, the Solidarity with Standing Rock divestment team continues to work on divestment and public banking.

A huge THANK YOU to Assemblymembers Santiago and Chiu, the bill's authors, and to all who worked for this day!