Greetings!
As many of you know, the legislative session has begun. I am working hard on quite a few things and wanted to send you an update.
WASHINGTON INVESTMENT TRUST
I have been working on a bill that would create the Washington investment Trust, a publicly owned financial institution. The WA Investment Trust will help keep our money in Washington, working for Washingtonians instead of ending up in Wall Street. While the trust is modeled after the Bank of North Dakota (the only other state bank in the country) my legislation is much narrower in approach, since it will focus on infrastructure lending to municipal governments and student loans. The WIT will help us:
- Facilitate investment in, and financing of, public infrastructure systems that will increase public health, safety and quality of life, improve environmental conditions, and promote community vitality and economic growth.
- Assist students who are in need of additional low-cost loans in order to finance the cost of higher education.
- Leverage Washington’s financial capital and resources, and work in partnership with financial institutions, community-based organizations, economic development organizations, guaranty agencies, and other stakeholder groups.
The bill has been scheduled for a public hearing this coming Thursday at 8:00 a.m. The Senate companion bill will also be heard this week.
HB 2434 – Thursday, January 26 at 8:00 a.m.
House Committee on Business & Financial Services
House Hearing Room B
John L. O’Brien Building
Olympia, WA
SB 6310 – Wednesday, January 25 at 1:30 p.m.
Senate Committee on Financial Institutions and Housing & Insurance
Senate Hearing Room 2
J.A. Cherberg Building
Olympia, WA
WASHINGTON WORKS PACKAGE ADVANCING
We’re seeing the first signs of Washington’s recovery from the Great Recession. Major employers are announcing new hiring. Small businesses are beginning to see light at the end of the tunnel. Boeing has announced its largest new orders ever. It’s happening because we don’t compete to be the cheapest. We compete to be the best. We know that getting people back to work means more than just increasing the number of jobs in Washington – it means making sure our own people have the skills they need to fill those jobs.
Washington Works is an economic recovery package that focuses on making our state the place where the best companies in the world find the best people in the world – a State of Excellence. Many of the bills in the package have already received public hearings and are advancing through the process, so I thought I would give you some information about them this week.
- The Career Pathways Act (HB 2170) – We know that not every child will go to college, and that not every great job demands a college education. Yet too many of our kids see themselves as failures if they’re not on a college-prep path. This bill will help schools promote career exploration to students, including internships, industry mentors, and stronger partnerships between businesses and education at the local level. We want to make sure that all students leave high school prepared for success in further education and work.
- Regulatory relief for small businesses (HB 2172) – We want state regulators to focus on helping small businesses succeed. This bill will require the Office of Regulatory Assistance to coordinate a team of small business liaisons who can help new businesses through the regulatory process, and to use a small business survey to improve customer service to small businesses.
- Innovation Partnership Zones (HB 2482) – We want to provide an “innovation ecosystem” that encourages and supports research institutions, workforce training organizations, and globally-competitive companies to work cooperatively to create commercially-viable products as well as jobs.
- Opportunity Expansion Account (HB 2532) – This bill will dramatically ramp up science, technology, engineering, and math degree production at colleges and universities. This is an incentive for companies to invest in educating engineers here rather than importing talent from other states and countries.
- Washington Works Incentives (HB 2265) – We want Washington to be the fastest-growing provider of highly-skilled workers for the next wave of industries. Our major employers, including Boeing and Microsoft, are currently importing employees from other states – and other countries – to fill jobs right here in our state. This measure will provide incentives for schools that increase graduation rates, address critical skill shortages, increase student success, and narrow the educational opportunity gap.
- Prioritizing Middle Class Jobs (HB 2171) –This measure requires the state’s main economic goal to be more people with good jobs, living in the middle class or better, and requires state decisions that affect the economy to be driven by that clear goal. Because we all know that economic growth and higher numbers on Wall Street don’t mean a thing if they don’t create jobs for the American people.
EMERGENCY PREPAREDNESS
The winter weather was the big story in our state last week, and your Capitol Campus was in the path of some of the worst of it. Though the Legislature remained open through the storms, we saw snow accumulations of over a foot in many places around Olympia. And on Thursday that snow was coated in a thick layer of ice.
Here in the western part of the state, we don’t see this kind of weather very often. It made for some spectacular pictures, but it also reminds us that we ALL need to be prepared for storms, floods, power outages, and other events that can disrupt our normal routine.
As the Federal Emergency Management Agency says, it’s important for every family to (1) be informed, (2) make a plan, (3) build a kit and (4) work with your neighbors. Learn more at www.ready.gov or https://takewinterbystorm.org/
Here are some tips for making it through storms like this week’s:
- Make sure your outside faucets are turned off and insulated.
- Leave inside faucets dripping to prevent freezing.
- If the power does go out, use flashlights instead of candles, which are a fire hazard.
- Have a kit ready for the house and your car that includes blankets, food, water, a first-aid kit, medicines and other essentials.
- Make a plan and practice it with your family and those who depend on you.
- Stay informed and know the weather approaching so you are prepared for whatever Mother Nature throws our way.
- Don’t drive on snowy and icy roads unless you absolutely have to. If you get stuck or injured, emergency vehicles will have an equally hard time coming to your aid.
- If you have to travel anyway, make sure somebody knows where you’re going and check the Department of Transportation’s website on conditions before you go. www.wsdot.wa.gov