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Creating a Washington Investment Trust

Earlier today I sent  a letter to members of the the state House and Senate in support of House Bill 2434 and Senate Bill 6310 to create a Washington Investment Trust. HB 2434 is sponsored by Representative Bob Hasegawa and 43 other Representatives, and and SB 6310 is sponsored by State Senator Karen Keiser and ten other Senators.

The Washington Public Bank Coalition website has background information and details.

February 3, 2012

Honorable Representatives:

I am writing in support of House Bill 2434, to establish the Washington Investment Trust. A Washington Investment Trust would have clear benefits for the people of Washington State.

A Washington Investment Trust could greatly reduce the financing costs for state infrastructure spending by reducing the interest paid on bonds. This is especially timely given the consideration of transportation funding in the state legislation, and large transportation construction projects on the horizon.

Providing student loans could contribute to the long-term economic health of Washington State, and the preparedness of our work force and human capital.

A Washington Investment Trust provides an opportunity to improve the efficiency of government spending, generate benefits for the people and the economy of the state, and serve the public interest.

Thank you for your consideration.

Sincerely,

Nick Licata

Seattle City Councilmember

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