Good morning Westside Democrats,
Kenny
Westside Legislators Present Aggressive Agenda to Voters in a Celebratory Victory Lap with West Side Democrats
CLICK HERE to watch the webinar
In an inspiring evening, 7 newly elected and re-elected state legislators representing Southwest and Northwest Albuquerque and Sandoval Counties laid out an impressive list of bills and reforms they want passed in the upcoming 2021 Legislative Session which starts on January 19. They also accurately predicted a special session to be called by Governor Michelle Lujan Grisham announced for November 24 to help with COVID-19 relief for unemployed residents and small businesses.
The panelists were featured on November 18 at the monthly meeting of the West Side Democrats, and had the opportunity to thank their volunteers and donors for helping them win their seats. West Side Democrat Harold Pope, Jr., who will be the state’s first African American state senator, joined his colleagues in supporting small business development opportunities to increase jobs on the Westside. Pope, a retired U.S. Army veteran, also plans to support legislation to make it easier for military families who are professionally licensed to find employment when then move to NM by reducing the barriers around reciprocity. Pope flipped the seat held by Republican Sander Rue since 2009.
Is Now the Time for a Public Bank in New Mexico?
A Conversation with Public Bank Supporters Sarah Manning and Melissa Pickett of the Alliance for Local Economic Prosperity
A New Mexico-owned public bank is the goal of AFLEP, the Alliance for Local Economic Prosperity. Melissa Pickett and Sarah Manning of AFLEP are confident that the creation of a public bank will spur economic development in the rural areas and small towns of New Mexico, while productively using our tax dollars.
The citizens who live in New Mexico, especially those who live in small towns and rural areas, are desperately in need of financial help. A few years ago, there were approximately 60 local banks operating in New Mexico, today there are only 34. This is the result of an era of bank acquisition and mergers which began in the 1990s. Today, four big commercial banks control 45% of all deposits in the United States. Their goal is to make money for their shareholders, so they are uninterested in the kind of small loans that will foster development on the family farms and in the small towns of New Mexico. Lacking access to capital, small business owners have been forced to turn to payday lenders for the money they need to develop their businesses. Payday lenders can charge very high-interest rates of up to 100-175%, rates which strangle the borrower and consequently economic development in New Mexico.
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