SB 5029 – Creating the Washington investment trust update


We need a state bank. Not much good will come out of the legislature this year, but we must continue to push the state bank idea forward. We can make our money go further, reduce state debt, and keep investing in our own state economy. It doesn’t hurt that this bill would take our dollars out of the “too big to fail” banks.

Forward, and thanks to Senator Hasegawa for sponsoring the bill,

Begin forwarded message:
From: “Hasegawa, Sen. Bob” <>
Subject: SB 5029 – Creating the Washington investment trust update
Date: February 25, 2013 5:19:47 PM PST


I’d like to update you on my legislation to create the Washington Investment Trust. As you know, Senate Bill 5029 would create a state bank that could leverage state accounts to generate funds to build additional construction projects, such as infrastructure for schools and economic development, and put more Washingtonians to work.

Unfortunately, despite strong testimony by stakeholders in favor of the measure, my bill died in committee last Friday, the last day for policy bills to be moved forward in the legislative process. While I’m disappointed, I’m not discouraged. The end of a legislative session doesn’t mean the end of a bill, and support for this proposal continues to grow. It’s not uncommon for a bill to take several sessions to win passage, and I’m committed to pursuing this concept no matter how long or how much effort it takes to a successful conclusion. It’s obvious we have much more organizing work to do.

In the meantime, I want to thank you for your interest in this legislation and to encourage you to continue to lend your support to the effort to create a state bank. Together, we will get there.

Bob Hasegawa
Senator Bob Hasegawa
11th Legislative District

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