Illinois Congressman Danny K. Davis led the June 15 Zoom Town Hall with a taped video presentation announcing his introduction of a new National Infrastructure Bank Bill H.R.4052. His new bill is modeled on H.R.3339, calling for a $5 trillion National Infrastructure Bank which will finance all the Nation’s infrastructure needs. The video kicked off a most poignant dialogue by a far-ranging group of elected and other officials on the urgent need for a robust and permanent U.S. industrial expansion.

Ellen Brown, Chair, Public Banking Institute, Washington State Senator Liz Lovelett, and Pennsylvania House Representative Joe Ciresi were joined by other elected officials for the Zoom Town Hall, entitled “National Banking Will Build Infrastructure for All.” This timely event reflected an ever-expanding campaign to implement a National Infrastructure Bank (NIB), along with state public banks, that is now making its presence felt on Capitol Hill. 

There is no better time than now to make this happen. Economic activity is slowing and a recession is in the offing. Cash is being drained from banks by the Federal Reserve’s quantitative tightening, bank deposits are fleeing by the hundreds of billions of dollars into money market mutual funds, and a credit crunch in all financial institutions is occurring courtesy of the Fed’s high-interest rates. 

The only “Plan B” is the National Infrastructure Bank and public banking. Resolutions and Sign-On letters urging Congressional adoption of the $5 trillion National Infrastructure Bank are coming into Washington from around the country.

The Washington State Legislature passed a resolution urging Congress to create the NIB and similar resolutions have recently been filed in the Alabama, Pennsylvania, and Ohio legislatures. Sign-On Letters to Congress are circulating in New York, North Carolina, and Alaska legislatures. More county councils in New York and elsewhere are doing the same. New resolutions were just introduced into the Council of State Governments West and the National Conference of State Legislatures. The impact has not been lost on Congress. 

Please watch the June 15 video and call Congress to co-sponsor H.R.4052. As always, spread the word!!



Speakers:

Congressman Danny Davis, Chicago, IL

Alphecca Muttardy, former Senior Economist, International Monetary Fund, Fairfax, VA

Ellen Brown, Esq., Chair, Public Banking Institute, Los Angeles, CA

Representative Joe Ciresi, Limerick Township, PA

Representative Michele Grim, Toledo, OH

Senator Liz Lovelett, Anacortes, WA

Senator Bill Tallman, Albuquerque, NM 

Senator Evangeline Diaz, Tolleson, AZ

Moderator: Julie Olsen, MBA; Chair Progressive Caucus, Alaska Dems, Anchorage, AK