Arizona's debt to Wall Street

SB1301: State-Owned Bank Task Force Bill Passes Committee

For the second year in a row, Southern Arizona Senator Andrea Dalessandro’s task force bill to study creation of a state-owned passed the Arizona Senate’s Financial Institutions Committee. This year’s bipartisan vote was 6-1 with only Senator Gail Griffin, also from Southern Arizona, voting no. In the highly polarized Legislature where many bills sponsored by…

What Wall Street Costs America (and Arizona)

The Public Banking Institute (PBI) has initiated an educational project entitled¬†“What Wall Street Costs America.” PBI and advocates around the country are learning to read Comprehensive Annual Financial Reports (CAFRs). All governmental bodies must issue annual CAFRs– including the State of Arizona (here), the State Retirement System (here), Pima County (here), Tucson (here), and Tucson…

Rising Debt Service Costs: Public Banks for Tax Relief

Here is a great article by Mike Kraus, one of the founding members of the Public Banking Institute and Chair of Pennsylvania’s Public Banking Project. This was originally published in the Bucks County Courier Times. By Mike Krauss Across the United States, states and municipal governments struggle to provide essential public services, such as schools,…