Great Roads... If We Can Keep Them.
Infrastructure impacts all of us everyday and it is the one area that we have allowed to deteriorate everyday for decades. Honesty and transparency are called for and it’s critically important we increase the public’s awareness and oversight over the caretakers of our public works. If citizens are being asked to pay more at the pump and see their monthly utility bills rise, then the taxpayer should expect improvements in their everyday lives when they travel, use water or want to go online.
A Bank Owned by The People
Wouldn’t it be great to be able to go to a bank that you own and be able to help finance your small business, buy your first home, or start a college fund for your kids? The Bank of North Dakota started as an agriculturally-focused bank but over the decades became engaged in economic development in major ways that helped People.
Heated and lighted highways using carbon fiber materials to house data and power transmission lines. Public banks could also invest in new mass transit for our communities across the country.
Public banks provide bond financing for municipalities to upgrade their wastewater treatment facilities, investment opportunities for industries designing the next generation of road surfaces and other mass transit for our communities across the country.
All we need is honest leadership to make it happen. The federal government can match start-up funds by the states and would be a way for the government to give back to the local communities in need of financial assistance with their infrastructure problems.
The Nation’s Roads
The recently enacted $1.7 Trillion Infrastructure Program will go some way to restoring our Nation’s roadways and bridges and expand our digital grid, particularly in rural areas. However, much more needs to be done and that is why Build Back Better must be passed by Congress because America must not be the country of broken roads and collapsing bridges.
Clean Water for All
Clean and accessible water is as important as healthcare. Build Back Better helps by replacing old pipes made from lead and rebuilding water works in rural small areas to ensure People are drinking safe water and aren’t paying an arm and a leg every month to have it. Upgrading these facilities will also help clean up our public waterways, specifically the Lake Erie and the Ohio River watersheds.
The Bank of Ohio
Ohio continues to struggle spending on infrastructure, and only recently raised the state excise fuel tax in an attempt to shore up the highway funds. However, the state is greatly dependent on federal monies to just keep up with current projects, like Intel, and has no additional means to solve the backlog of state projects. That means many of our communities don't have the ability to fix their roads, bridges and water infrastructure just to name a few. As our climate changes with more flooding, heat waves and severe weather our electrical grids will need investment in addition to our local economic needs. More People are working from home, kids are learning from home and our communities need for connectivity is growing. That growth means we need reliable and widespread access to internet services like broadband. All of these need support, which is where the Bank of Ohio comes in.
What Are The Costs?
Zero New Debt and Zero New Taxes. That's right, the Bank of Ohio won't require a single dime in new debt or taxes. This is done through a variety of ways.
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The Bank of Ohio will earn fees for loan origination and for other services so it will pay for its own overhead
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Loan rate: Treasury Bond rate or lower. Loan maturity over the investment’s lifetime.
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Capitalized with $500 Million from Ohio's Rainy Day Fund
How Does It Benefit Us?
A bank that is owned by the People works for People. The benefits behind the Bank of Ohio range from large statewide projects like high speed rail to small business loans in every community at reasonable rates. Because the Bank of Ohio would be owned by you, it would work for you.
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Rebuilds Crumbling Infrastructure Across Ohio: Less traffic congestion and CO2 pollution; Lead-free water; New schools, Affordable housing , Mass transit/high speed rail, broadband, electricity grids; with enough funding for every single state.
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Creates new jobs paying Davis Bacon wages. Buy America; Provides training in permanent, new occupations.
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Increased business from all the new construction and “Made in America” Industrial expansion. Promotes Disadvantaged Business Enterprises and minority hiring in our communities.
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Complements existing Federal and State spending on infrastructure, including the Infrastructure Investment and Jobs Act; Vastly improves revenues from new growth