H 3543 gets its first State House hearing


Public Bank bill panel at Thursday’s State House hearing, with Charles Grigsby, Barbara Clancy, Rep. Mike Connolly, Richard Krushnic, Steve Snyder, Mel King and Rep. Byron Rushing.

H 3543, An Act Establishing the Massachusetts Infrastructure Bank, had a hearing Thursday before the Joint Committee on Community Development and Small Businesses. Hub Public Banking volunteers joined with the bill’s sponsors, Rep. Byron Rushing and Rep. Mike Connolly, legendary community activist and former Representative Mel King, and Charles Grigsby, formerly of the Massachusetts Growth Capital Corporation and a member of the 2011 study commission that first looked into the viability of a public bank for Massachusetts. The panel’s testimony was supported by statements from Tom Sgouros, a Rhode Island policy analyst and consultant, and author of Checking the Banks: The Nuts and Bolts of Banking for People Who Want to Fix It, and Walt McCree, president and chair of the Public Banking Institute.

We’ll be posting some of the testimony given at the hearing in the next few weeks. If you are interested in learning what you can do locally to help move the bill, please contact us.

One thought on “H 3543 gets its first State House hearing

  1. An infrastructure bank is not going far enough in the struggle our nation faces with government funding issues or American income inequality problems. Including individual deposits and limiting the size of the commercial deposits will supply the state run bank with a steady capital system. This infrastructure only bank is doomed to fail but of course that’s what the corporate bought lawmakers of MA want to happen so they can say to their constituents, “We tried a public bank and it flopped. Don’t ask for another one…”

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