Tag Archives: public banking

Rio Nuevo Extension to 2035 Moves through #AZLeg

AC Marriott in Tucson

The new AC Marriott in downtown Tucson was built with a Rio Nuevo sales tax deal.

Backers of the Rio Nuevo Tax Increment Financing District have been intensely lobbying the Arizona Legislature for months in hopes of extending the life of Rio Nuevo beyond its current end date of 2025.

Reps. Mark Finchem and Todd Clodfelter have proposed HB2456 which would extend Rio Nuevo to 2035. In its current form, Rio Nuevo and development in the downtown district are controlled by the Arizona Legislature. The Rio Nuevo Board is appointed by the Governor, the Speaker of the House and the President of the Senate, and all Rio Nuevo deals are approved by those three.

What’s wrong with this picture? The people of Tucson created Rio Nuevo with our vote back in 1999, but under the control of the Legislature, the people have no voice in Rio Nuevo and no say in what is built in our city’s core. That’s a problem. Our town does not belong to the Arizona Legislature. Where is our local control?

Last week the Arizona Daily Star published my guest commentary on Rio Nuevo: Is It Time for the Sun to Set on Rio Nuevo? The article gives some historical background on Rio Nuevo and raises questions about the financing behind the deals. At the end are some suggestions.

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Rep. Powers Hannley: 2017 Legislative Report Card (video)

Rep. Pamela Powers HannleyIn 2016, I ran for the Arizona House on a platform of economic reform, equality, and tackling the opioid epidemic. I stood up to big-money politics and ran as a Clean Elections candidate, despite much advice to take the money and run.

I am honored that you elected me on Nov. 8, 2016. This year in the Legislature, I fought for fairness and stood up for your rights with my voice, my votes, and my bills.

I am running for re-election in 2018. As a Clean Elections candidate, I have pledged not to take big-money donations from special interests. This is my report card to you, the voters of Legislative District 9. It has been an honor to serve you.

Economic Reform & Public Banking 

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In Their Own Words: #PowersForThePeople Voters Speak Out (video)

Taundra Copley

Taundra Copley, stay-at-home Mom and my neighbor

Tomorrow is the Democratic Party Primary. August 30, 2016 has been in the back of my mind since I created my Pamela Powers Hannley for House Campaign Committee on August 19, 2016.

The campaign has been a heart-warming, physically-demanding, soul-searching, eye-opening, stress-inducing educational experience. Today’s post is not mine, though. It belongs to my supporters. Nine of my supporters– all LD9 voters, including several LD9 precinct committee people– agreed to make testimonial videos.

What do a world-renowned cardiologist, a stay-at-home Mom, two small business owners, two retirees, a college student, a painter, and a jeweler all have in common? They’re all voting for me in the August 30 Democratic Party Primary. Videos after the jump.

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#PowersForThePeople: Pamela Powers Hannley on Progressive Radio Network

Pamela Powers Hannley

Pamela Powers Hannley, progressive Democrat for Arizona House, LD9

Progressive candidates across the country are challenging the status quo. I was honored to be interviewed for the “It’s Our Money with Ellen Brown” progressive talk radio show this week.

You can hear the hour-long podcast here. During the first segment, public banking guru Ellen Brown interviews Tim Canova, a law professor and Federal Reserve Bank expert, who is running against embattled Congresswoman and DNC Chair Debbie Wasserman-Schultz in Southern Florida.

Canova’s campaign has similarities to my campaign in that he is a progressive running against a Democratic Party establishment candidate, his campaign is financed by small donations, and he supports public banking, postal banking, and relaxing marijuana prohibition.

My interview with Public Banking Institute Chair Walt McCree begins at around the 30 minute mark. McCree and I discussed Arizona’s rising debt (which has risen 94% since the Tea Party took over), the economic consequences of years of Tea-Party-imposed austerity for the 99% (and largesse for the 1%), the promise of public banking to rebuild Arizona’s economy, and the inspiration of the Nonpartisan League, who staged a progressive political revolution in 1916 and took over North Dakota’s state government.

This is my dream: that progressives will once again govern Arizona.

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#PowersForThePeople Team #CyclingForChange in the AZ Legislature at #Cyclovia

#cyclingforchange

Cycling for Change Team at Cyclovia. Many thanks to Andrew Broan and his friends, my husband Jim (far right), and my good friend Michael Gordy (not pictured) who decorated their bikes with my signage for Cyclovia. The guys were so photogenic as they rode together that the national press photographed them. Now if the local press would only take notice.

Congressman Ron Barber and Pamela Powers Hannley

Congressman Ron Barber and Pamela Powers Hannley at Cyclovia

Although Cyclovia got a little soggy this year, the #PowersForThePeople #CyclingForChange team was undeterred. Six of us decorated our bikes with “Cycling for Change in the Arizona Legislature” and “Powers for the People” signage and rode in Cyclovia. While the guys rode the route, I talked with voters at the Himmel Park hub and collected signatures.

My husband Jim and I saw many friends at Cyclovia. What a great community event it is. Itnot only promotes gathering and communication, it also promotes exercise and health.

One of the people I ran into was Congressman Ron Barber. (He and his wife Nancy have two of the coolest bikes in Tucson.) Barber has been very supportive of my campaign, and we talked at length about strategy and progress as we dodged the raindrops. Continue reading

What Wall Street Costs America: Say ‘No’ to Wall Street Fees with Public Banking

Arizona’s total debt service rose 94% between 2007-2014. Why is the state paying $312 million per year in interest on Wall Street debt when we could self-fund projects with public banking?

Arizona’s total debt service rose 94% between 2007-2014. Why is the state paying $312 million per year in interest on Wall Street debt when we could self-fund projects with public banking?

The cornerstone of my economic reform ideas is establishment of public banking at the state, county, and/or municipal levels.

In a nutshell, public banking advocates believe that austerity is a lie and that budget-cutting and layoffs by governments is unnecessary and harmful to citizens. There is plenty of money. The problem is that our taxpayer funds are held in too-big-to-fail banks on Wall Street and invested for the benefit of the banks’ shareholders– instead of being held here in Arizona and invested for the benefit of the citizens of Arizona. Public banks invest on Main Street for the public good — rather than allowing OUR MONEY to be gambled (and potentially lost… again) on Wall Street.

There are many ways a public bank could be constituted. For example, in my speech to the LD9 precinct committee members, I suggested taking 10% of the state’s surplus rainy day funds and using that to establish an infrastructure bank. This state bank could self-fund much needed improvements and new roads to make the state more competitive and easier to traverse. It also could lend money to counties and cities to build their projects. In turn, the state would make a modest interest rate on the loans.

Creation of a state public infrastructure bank would address several economic problems in one fell swoop:

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