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WASHINGTON STATE BANK DEAD YET ANOTHER YEAR DURING THIS TIME OF BUDGETARY CRISIS

Posted by nowisthetimeus on February 15, 2012

Deliberate denial of remedy, showing a pattern of criminal intent.

From: Hasegawa, Rep. Bob <Bob.Hasegawa@leg.wa.gov>
Subject: WIT Update – February 14
Date: Tuesday, February 14, 2012, 7:55 PM

Dear Stakeholders,

As many of you have already heard, the bill that would establish the Washington Investment Trust (WIT) has not made it out of committee in either the House (HB 2434) or the Senate (SB 6310). Today, February 14th, is the House of Origin cutoff date and that means that any bill that has not been moved out of either the House or the Senate is considered dead. However, as a wise person once said, “there are always options.” I’m continuing to work the bill, and looking for the legislature to take some steps to move the WIT forward.

I believe the WIT is one of those tools that will help us create a sound financial future for Washington State. Our taskforce worked diligently over the interim to find the ways we can safely invest our money to help it work in an innovative way for the citizens of our state. I realize there are some doubts, opposition, and possibly some misunderstanding of what exactly the WIT is trying to do. So we still have quite a bit of work ahead of us to help make the case as to why this can be a good thing for our State.

At the same time, I believe this challenge will help us refine our message about the very clear and tangible benefits the WIT can provide, such as savings on interest for infrastructure projects, expanded borrowing power for more capital projects, more jobs and lower interest rates on student loans. These are the messages that I will be working to convey. I’m committed to continuing the fight to move the issue forward this session. Over the next few weeks I’ll be looking for opportunities to help me do that. In the meantime, I think it will be important for folks to continue to spread the message within their communities about the specific benefits and opportunities the WIT can produce. If we can do a good job relaying our message, hopefully we will be building a strong foundation of support within each of the legislative districts.

Thanks for your continued efforts!

-Bob

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