CHEYENNE – Wyoming U.S. Senate candidate Yana Ludwig has released a five-page position paper advocating that the state Legislature take up a study of a public bank for Wyoming.
Ludwig’s analysis is based in part on the successful, 101-year-old Bank of North Dakota, which offers low-interest loans to a variety of projects, including municipal infrastructure projects, and feeds its profits back into the North Dakota state budget.
“A public bank in Wyoming would do all the things for us that it has done for North Dakota: stabilize the economy in times of economic stress, make infrastructure projects significantly less expensive, and reduce the burden on taxpayers to fund those projects,” Ludwig said in a statement. “It would also feed much-needed money into the state budget and create a pathway for a green energy transition in the state.”
Ludwig is the former executive director of Commonomics USA, which advocates for sensible and economically just financial structures. She helped facilitate grassroots activism in California in 2017 that led to that state’s passage of a new public banking law last year, and says that there is no reason to not pursue something similar here. She also notes that North Dakota is an even better analog to Wyoming than California for a host of reasons.
“North Dakotans across the political spectrum love their public bank because it supports local communities and small businesses, offers low-cost student loans and insulates the whole state economy from financial downturns,” she said.
The full position paper has been sent by Ludwig’s campaign to every member of the Legislature, all county commissioners, and the offices of the governor and state treasurer. Individuals can request a PDF from the campaign of the full paper. The Yana for Wyo campaign will hold a zoom session on this topic at 12:30 p.m. Thursday, June 4. Contact the campaign for more information and to join that conversation.