To: The Vermont State House, The Vermont State Senate, and Governor Phil Scott
Support Senate Bill S.55
Current financing and investment strategies are conducted in such a manner that MANY of Vermont's state and municipal revenues and financial resources are siphoned off to uses which DO NOT BENEFIT the Vermont Economy. I believe that all of Vermont's financial resources should be used and invested in a way that would build a more vibrant and sustainable economy to benefit all Vermonters.
Senate Bill S.55, which calls for the creation of "a finance and lending efficiency task force to evaluate the costs and benefits of consolidating into one entity state finance and lending operations, investing, grant making and banking” is a necessary and good first step in this process. I urge the legislature to pass this bill.
Senate Bill S.55, which calls for the creation of "a finance and lending efficiency task force to evaluate the costs and benefits of consolidating into one entity state finance and lending operations, investing, grant making and banking” is a necessary and good first step in this process. I urge the legislature to pass this bill.
Why is this important?
The State of Vermont currently hands over much of its funds to big out of state banks and Wall St. for safekeeping. Many of us believe that keeping our money in a publicly owned state bank would be a much less risky way to keep public moneys. A state partnership bank would partner with local community banks to help grow the economy of Vermont in ways that would better benefit all Vermonters. S.55 would set up a task force to examine the most efficient ways of managing state funds which is a necessary step on the path to creating a Vermont Partnership Bank.