If North Dakota can do it…
The pros and cons of establishing a “state investment trust” – a state bank – in Washington State will be the topic of a Seattle forum hosted by PSARA at 1:30 p.m. Thursday, September 27.
The forum will be held at the Filipino Community Center, 5740 Martin Luther King Jr. Way South, in Seattle.
We are giving our readers early notice because the forum is of unusual importance. It features a panel of State Treasurer Jim McIntire, community banker Darel Grothaus, and Representative Bob Hasegawa, the prime sponsor of the state investment trust bill.
With the economic future of the state riding to an important extent on the legislation, this forum deserves an overflow crowd. Please mark your calendar.
The panelists will discuss the benefits and risks of creating a state investment trust in our state similar to the state bank of North Dakota. That institution has greatly cushioned the impact of the current recession in North Dakota.
During the 2012 Washington State legislative session, PSARA made support for tthe bill one of its top three priorities. It drew the support of other labor and community organizations as well, but because it was strongly opposed by McIntire. it failed to clear the House Business and Financial Services Committee.
The bill will be reintroduced in the 2013 session. The September 27 forum will help us to lobby knowledgeably on the bill’s behalf.