Supes to vote on public bank-and we can start to talk about ways to fund it - 48 hills

"Sup. Jackie Fielder is asking the board to approve a resolution calling on the city treasurer to move forward to create a municipal green bank. The supes have already approved the concept, and Fielder has five cosponsors, so unless one member objects and demands that the proposal be sent to committee, this will pass. That would start the process of figuring out how to pay for what could become the country's first municipal bank."

"Not sure how much federal or state money is going to be available; Donald Trump would never go for this kind of program, and now that Gov. Gavin Newsom is running for president, he's going to be terrified of any connection to anything that could be smeared as "socialist." But there's plenty of money available. Four supervisors have signed onto a proposed measure that would increase taxes on Uber and Lyft"

A resolution would direct the city treasurer to design and establish a municipal green bank in San Francisco. The Board of Supervisors has previously approved the concept and the resolution has five cosponsors, enabling passage without a committee referral unless a member objects. Initial capitalization is estimated at about $20 million to launch operations. The green bank aims to influence municipal finance, affordable housing financing, and local banking practices. Potential funding sources include federal, state, local, and philanthropic dollars, though federal and state political dynamics could limit availability. Local revenue proposals include taxes on ride-hailing services and measures targeting high CEO pay and billionaire wealth.

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