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A State Bank for Washington – Invest in WA or Wall Street?

Politics

Bellingham City Club invites the community to hear Washington State Senator Bob Hasegawa’s vision of how to save taxpayers money through the implementation of a state bank. The presentation follows lunch at the May 22 meeting at Northwood Hall Event Center, 3240 Northwest Ave, Bellingham. Doors open at 11:30 a.m. Tickets and more information are available on the website at bellinghamcityclub.org. A little understood conundrum of financing government is how much of our tax dollars go towards paying interest to Wall Street banks. Senator Hasegawa visualizes a state bank that handles all state and local tax revenues and uses the earned interest for the benefit of Washingtonians. Since 2009, the senator has introduced nine state bank bills, as well as numerous budget provisos to study or implement a state bank. His current proposal creates the Washington Investment Trust (a state bank) to recapture control of what happens to state taxes and increase personal finance capacity.