Bernie Sanders Endorses the Public Banking Act!
Democratic presidential candidate Sen. Bernie Sanders announced his support for California’s Public Banking Act (AB 857) this morning, sharing a Twitter post from the California Public Banking Alliance just days ahead of the bill’s final Senate committee vote.
“It makes a lot more sense to me for cities and states to establish banks that invest in local communities instead of handing over taxpayer dollars to Wall Street banks whose business model is fraud,” Sanders wrote on Twitter.
Sanders retweeted a post from the California Public Banking Alliance (CPBA), the sponsor of AB 857, which represents public banking activists across 10 cities and regions in the state.
Sanders’ support comes after a week of endorsements from city governments, labor, environmental groups, and Democratic central committees, including Alameda, Monterey, San Mateo, and Sonoma County Democratic Parties. AB 857 has been endorsed by the California Democratic Party and the Contra Costa, Fresno, Los Angeles, San Francisco, Santa Clara and Santa Cruz County Democratic Parties.