Tell Congress to Use Federal Recovery Funds for Public Banks not Wall Street!

National_alliance

As the federal response to the pandemic unfolds, one thing is clear: we cannot go back to business as usual. The lion’s share of federal relief funds are going to big corporations on Wall Street and not working-class and middle-class households on Main Street. We need to ensure that economic responses put people over profits by directly helping individuals, families, and communities.

State and local governments are on the front line in responding to the COVID-19 pandemic, both in terms of making public health decisions and providing for the delivery and financing of key public services, including critical health services. Yet states and localities have limited fiscal resources, even as the federal government directs trillions in assistance to less essential areas of the financial markets.

Now is the time to contact your representatives in Congress and let them know that public funding for pandemic relief belongs to the public!

Send an email to your Congressional Rep using our template letter!

I am writing to support the use of federal stimulus funds to capitalize a network of state and municipal public banks.

These public banks will:

  1. Help small businesses through lending, rather than letting Wall Street decide where the money should go.

  2. Partner with community banks and credit unions so they can continue to make much-needed loans in their neighborhoods.

  3. Create a sustainable stream of revenue for emergency funding so we can be better prepared in the future.

You can also call your Representative and Senators using this script:

“This is [Full Name] calling from [Zip Code]. I am calling to support the use of federal recovery funds to create public banks as an engine of economic recovery. These funds need to support our communities, not corporations. As a constituent, I urge you to support public banking using these emergency funds.”

This crisis is unlike anything we have seen before and the just and equitable recovery will take years, not months. We need solutions that empower our localities to help our communities now and down the road.

Support public banking today. Empower Main Street NOT Wall Street.