Town Meeting Campaign
The public sector - especially local governments - are key beneficiaries of a public bank, because the bank makes it possible to use locally generated tax dollars as leverage for economic development and investment in critical infrastructure like transportation, communication, energy, education, and agriculture. A public bank could lower local taxes in two ways:
1) A public bank would not pay shareholders dividends and profits, and so the interest rates earned on deposits can be higher.
2) Loans and bonds for infrastructure construction could come from the public bank, so the cost of borrowing could be lower.
As people gather around Vermont on March 4th next year to vote for their town budgets, the Town Meeting Campaign for a public bank will help them understand that taking control of the tax revenues for public benefit is an important way to reduce the costs in cities and towns.
The documents a local organizer would need to petition for the resolution supporting a public bank to be on the warrant for Town Meeting are below. To get on the warning, you need 5% of the registered voters in the community to sign the petition. It then needs to be presented to the local Selectboard or City Council before the deadline for warning Town Meeting - usually sometime in mid-January, but check with your Town Clerk to find the exact deadline. We are launching the campaign as part of New Economy Week, so if you're interested in hosting an information session in your community to kick off the campaign sometime between October 12 - 20, please contact email@example.com and let us know so we can put it on our program and help you publicize it. We'd love to have you involved!