Santa Fe’s effort to establish a publicly owned city bank is in line with other moves around the country. In New Jersey, Phil Murphy, the front-runner in next year’s gubernatorial contest, pledged in September to create a state-owned Bank of New Jersey as a cornerstone of his economic policies. Murphy anticipates that the state bank could fund state infrastructure improvements, offer better terms on student loans and return profits to the state budget. We can do the same at the city level in Santa Fe. We urge the City Council to support Councilor Renee Villarreal’s resolution to move forward with this timely project.
Frederick Sawyer – Santa Fe
