Oregon Introduces Glass-Steagall Joint Memorial
July 7, 2013 • 4:41AM

A Senate Joint Memorial has been introduced into the Oregon State legislature and already has the support of 26 members between both branches of the legislature. Oregon is the 23 state to introduce a resolution urging "Congress to support efforts to reinstate separation of commercial and investment banking functions in effect under Banking Act of 1933". The text of the resolution is below.

On July 3rd, Senate Joint Memorial 11 was filed into the Oregon statehouse calling for the Federal Congress to reinstate the Glass-Steagall Act. Sen. Chip Shields (D-Portland) is the lead sponsor in the Oregon Senate. In the Oregon House of Representatives the lead sponsors are Rep. Alissa Keny-Guyer (D-Portland), Rep. Jessica Vega Pederson (D-Portland), and Rep. Greg Smith (R-Heppner).

In total, 26 out of 90 legislators from both legislative chambers added their names as sponsors of Senate Joint Memorial 11 (4 of 30 Senators and 22 of 60 Representatives). 20 are Democrats and 6 are Republicans. Among the signers are the Senate Republican Deputy Leader, and Assistant Leader, the Senate Majority Assistant Leader, and the House Majority Assistant Leader.

The introduction makes Oregon the 23rd state to introduce a resolution urging Congress to reinstate Glass-Steagall banking separation.