“Who wants to make the East Bay resilient to federal chaos?”
“Who wants something hopeful to fight for rather than against Trump?”
These were the questions asked by Youth Action Caucus (YAC) organizer, Nic, at the All Members Meeting on January 26.
On Sunday, members of the Youth Action Caucus presented a campaign to start a public bank in the East Bay. Currently, private banks hold our tax dollars and they in turn, invest our money in private detention centers, fossil fuels, and needless wars abroad. A public bank would allow the City of Berkeley’s tax dollars to be invested in affordable housing, sustainable infrastructure, and local businesses. The YAC organizers expressed their desire to fight for something hopeful that will help create the post-MAGA future they envision.
A public bank is owned by the city, county, or region instead of private shareholders. There is proof that public banks work and reinvest funds into the community instead of lining billionaires pockets. A 100 year old Public Bank in North Dakota (BND) had an 15.8% return on investment last year and distributed the most PPP loans out of any state during the pandemic. Public banks make our taxes resilient to federal chaos by reinvesting funds into the community instead of using our money to pay for CEO salaries. A public bank in the East Bay already has support from local unions, elected officials, and our very own Indivisible East Bay.
The YAC is excited to lead this effort toward establishing a sustainable future, but needs support and leadership from everybody. Last week, one of our members submitted the ballot initiative to fund a public bank to the City of Berkeley. Our next step is to gather 4,000 signatures by mid May to make sure that the measure makes it on to the ballot in November.
If you are interested in volunteering to gather signatures, host a house party, help organize signature gathering teams, or are curious to learn more sign up HERE. A YAC organizer will reach out to you with more info.
