Yesterday I posted a cap of a ghost bill that was run through the Ways & Means Committee of the WA legislature and asked for speculation as to what the state Dems could be using it for.
I personally think they’re going to use it to ram their “modifications” of an anti-tax initiative through.
But I saw this and am now back on the fence
HB 3162 Authorization of a state bank
From Bob Wasegawa (D-11th) prime sponsor and Vice Chair of the House Finance Committee
Imagine controlling our money and investing to stimulate the economy. Imagine financing student aid, infrastructure, industry and community development. Imagine providing access to capital for small businesses, or otherwise leveraging our resources instead of having to do it with tax incentives. Imagine keeping our resources local instead of exporting them as profits, never to be seen again—that’s what this bank could do.
With what money, I haven’t a clue. Washington State is currently running tens of millions of dollars in the hole.
What I see is more political power in the hands of whatever party runs the state. You want a loan. Grease a few palms and you’ll get it. If you’re a Republican, you’ll never see a dime.
There’s a hearing next Tuesday. Write your reps before this weekend.