Initiative for a public bank in Washington State

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A bill that has yet to make it out of the Washington State Senate would establish a public bank with a narrow scope, giving municipalities an alternative option to the bond market for financing a variety of infrastructure projects. Unlike some other bids for public banks, the proposed bank wouldn't serve individual consumers or businesses.

But the bill "leaves the door open to provide more robust services later on," said Marco Rosaire Rossi, the executive director of Washingtonians for Public Banking, a nonprofit created in 2022 with the goal of establishing a public bank in the state. Those services could include accepting deposits from municipalities, he said.
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How advocates are building support for a public bank in Washington State

A bill before the state legislature would create a public infrastructure bank, where municipalities could go to finance projects from affordable housing to bridges.

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