California is currently being squeezed from every direction, from budget deficits to a statewide housing crisis, and nowhere near enough financing to repair infrastructure or build the affordable homes our communities urgently need. Meanwhile, billions of public dollars sit in and enrich Wall Street banks that have no obligation to serve California’s priorities.
The California State Public Bank (AB 2243), authored by Assemblymembers Matt Haney and Ash Kalra, begins planning for a state public bank by establishing a State Bank Commission and directing development of an independent State Bank Plan. The plan will lay out how California could establish a state public bank, including the option of building on existing public financing infrastructure like IBank.
This wholesale model would cut borrowing costs and expand financing by partnering with community lenders, CDFIs, credit unions, and community banks — and future local public banks. Every $1 of public capital can support up to $10 in lending for affordable housing, climate resilience, infrastructure, and small-business growth.
That’s how we reroute billions of dollars away from Wall Street profits and back into California communities.
For too long, public dollars have flowed through private institutions that profit off our needs. California can lead the country by building public banks designed for the public interest, people, communities, and the planet.
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Contact: Ganesh Balamitran, ADEM, Assembly District 24
ganesh4fusd@gmail.com
Current CA State Public Bank (AB 2243) California Democratic Party Delegate Endorsers:
AD 1 – Alice Rogers. California Democratic Party Delegate
AD 1 – Karen Zeigler, California Democratic Party Delegate
AD 2 – Christina Huff, California Democratic Party Delegate
AD 2 – G Mario Fernandez, California Democratic Party Delegate
AD 2 – Sarah Brooks, California Democratic Party Delegate
AD 2 – Steve Shamblin, California Democratic Party Delegate
AD 2 – Stuart Altschuler, California Democratic Party Delegate
AD 4 – Jim Garrett, California Democratic Party Delegate
AD 6 – David Mandel, California Democratic Party Delegate
AD 6 – Shirley Toy, California Democratic Party Delegate
AD 6 – Tamiko Heim, California Democratic Party Delegate
AD 8 – Elaine Hagen, California Democratic Party Delegate
AD 10 – Amar Shergill, California Democratic Party Delegate
AD 14 – Alfred Twu, California Democratic Party Delegate
AD 16 – Dan Torres, California Democratic Party Delegate
AD 17 – Michael Nguyen, California Democratic Party Delegate
AD 18 – Rowena Brown, California Democratic Party Delegate
AD 20 – Dylan Boldt, California Democratic Party Delegate
AD 21 – Talavou (Vou) Aumavae, California Democratic Party Delegate
AD 24 – Amaya Wooding, California Democratic Party Delegate - ADEM
AD 24 – Aziz Akbari, California Democratic Party Delegate - ADEM, Co-Founder and Former President of Muslim Democrats and Friends
AD 24 – Ganesh Balamitran, California Democratic Party Delegate - ADEM
AD 24 – Lucy Shen, California Democratic Party Delegate - ADEM
AD 25 – Jeffrey Levin, California Democratic Party Delegate
AD 25 – Monica Kitchiner, California Democratic Party Delegate
AD 26 – Eduardo Advinaila, California Democratic Party Delegate
AD 26 – Neil McClintick, California Democratic Party Delegate
AD 27 – Areej Latif, California Democratic Party Delegate
AD 28 – Glenn Glazer, California Democratic Party Delegate
AD 29 – John Freeman, California Democratic Party Delegate
AD 30 – John Mothershead, California Democratic Party Delegate
AD 30 – Patricia Collen Ingram, California Democratic Party Delegate
AD 32 – Amanda Ridgout, California Democratic Party Delegate
AD 32 – Andrea Alvarez, California Democratic Party Delegate
AD 32 – Charlotte O'Brien, California Democratic Party Delegate
AD 33 – Pedro Nambre, California Democratic Party Delegate
AD 35 – Noe Garcia, California Democratic Party Delegate
AD 36 – Diane Chapman, California Democratic Party Delegate
AD 36 – Steven Brooks, California Democratic Party Delegate
AD 36 – Tarilyn Jean Beer, California Democratic Party Delegate
AD 39 – Debra Maxie, California Democratic Party Delegate
AD 39 – Laura Martinez, California Democratic Party Delegate
AD 42 – Catherine Willott, Ventura County Dem Central Committee Elected Delegate
AD 45 – James Albert, CADEM DSCC Delegate
AD 47 – James J. Mercado, California Democratic Party Delegate
AD 47 – Lanny Swerdlon, California Democratic Party Delegate
AD 49 – Jeff Schwart, California Democratic Party Delegate
AD 51 – Darryn Harris, California Democratic Party Delegate
AD 52 – Nicholas Gardnev, California Democratic Party Delegate
AD 55 – Kevin Liao, California Democratic Party Delegate
AD 55 – Sara Roos, Elected AD55 LA/CDP; Chair, CADEM Children's Caucus
AD 56 – Christine Salazar, California Democratic Party Delegate
AD 58 – Nathan Kempe, Member, DSCC, DCCC
AD 59 – Arnel Dino, California Democratic Party Delegate
AD 60 – Jasson Ruiz, California Democratic Party Delegate
AD 60 – Judy Rice, California Democratic Party Delegate
AD 66 – Adam Schwartz, California Democratic Party Delegate
AD 66 – Jane Affonso, DCCC Los Angeles
AD 67 – Dan Rocha, California Democratic Party Delegate
AD 68 – Andrew Linares, California Democratic Party Delegate
AD 74 – John Paculdo Koenigshofer, California Democratic Party Delegate
AD 76 – Lauren Bier, Public Ballot Member, SDCDP; SD County representative to CADEM, Parliamentarian of the CADEM Progressive Caucus
AD 76 – Smith Sirisakorn, California Democratic Party Delegate
AD 78 – Richard Barer, California Democratic Party Delegate
AD 78 – Ryan Darsey, California Democratic Party Delegate
AD 78 – Teannae Owens, California Democratic Party Delegate
