Ellen Brown, Esq., Author and Founder Public Banking Institute, Illinois Senator David Koehler, and Massachusetts Representative Danillo Sena were joined by other elected officials for a national Zoom Town Hall: “National Infrastructure Bank: Addressing the Federal Budget Crisis! 

On March 14, Congress must pass a new budget or a new Continuing Resolution (CR) to maintain government funding at 2024 levels. If they fail, the government will shut down for an undetermined period! Passage of even a CR is up in the air, given the divisions in both parties and the crisis-stricken atmosphere engulfing Washington and the Nation. 

Fast-moving budget cuts, layoffs, lawsuits, budget reconciliation plans, and demonstrations are impacting Congress, shaking it in ways not seen in decades. This is not Business as Usual! 

In crises like this throughout American history, courageous leaders returned to the tenets of the American System, as outlined by Alexander Hamilton and others. At the center of Hamilton’s design was the creation of a National Bank, to direct credit into building infrastructure and manufacturing, and “growing the economy.” These entities have been “off the budget,” requiring little infusion from Congress!

Great presidents have embraced National Banking, including Presidents George Washington, John Quincy Adams, Abraham Lincoln, Herbert Hoover, and Franklin D. Roosevelt. The Reconstruction Finance Corporation (RFC), created by Herbert Hoover to attack the Great Depression, was upgraded by FDR to end the Depression and win WWII. 

Support for a new National Infrastructure Bank (NIB) is growing. In the last Congress, H.R.4052, the National Infrastructure Bank Act, ended with 48 sponsors, over double the previous Congress. A new bill has been drafted. Support resolutions demanding its adoption have been introduced or passed by elected bodies including state legislatures Maryland, Georgia, Massachusetts, New Jersey, and Illinois. More are in the works. City and county councils are doing the same. Resolutions recently passed include Kansas City, MO, New York City, Bellingham, WA, and Ravenna, OH. 

Bipartisan support is also growing. As cities and states contemplate severe cuts to infrastructure spending and government agencies, elected officials are looking “outside the box” for answers. The “off-budget” NIB is gaining traction. 

Please watch this inspiring discussion and invite your friends to watch. 

Speakers:

Alphecca Muttardy, former Senior Economist, International Monetary Fund, Fairfax, VA

Ellen Brown, Esq., Author and Founder Public Banking Institute, Los Angeles, CA

Rep. Danillo Sena, Massachusetts House, Middlesex, MA

Rep. Jed Davis, Illinois House, Yorkville, IL

Sen. David Koehler, Illinois Senate, Peoria, IL

Asm. Christian Barranco, New Jersey Assembly, Oak Ridge, NJ

Sen. Josh Newman, California Senate (former), Los Angeles, CA

Dr. Monica Taylor, Chair Delaware County Council, Upper Darby, PA

Moderator: Hon. Randy Voller, former Mayor Pittsboro, NC; President-Elect Orange /Chatham Association of Realtors, Pittsboro, NC