The Philadelphia City Council Finance Committee unanimously voted to send the Philadelphia Public Financing Authority Bill, Bill 210956, out of Committee after a persuasive hearing on December 13 with many presenters, including several members of the Philly Public Banking Coalition and three from the Public Banking Institute. The Coalition reports:
“Before the hearing, three Council members remained unconvinced that the bill was a necessary addition to the economic environment of the City. But thanks to the dynamic, heartfelt and educational testimonies of our witnesses, the motion carried with full support of all nine Committee members.”
The bill had its first formal reading in Council on Thursday morning, Dec 16. This reading is a formality that will send the bill on for discussion and a full vote after Council resumes sessions in 2022.
See Scott Baker’s slide presentation On Monetizing the Philadelphia Public Bank.
Philadelphia. Photo by Charl Folscher.