Friday, November 25, 2016

DON'T PROFIT FROM THE WALL. Illinois House Representative Will Guzzardi is sponsoring a bill to prevent state pension funds from investing in any companies with federal contracts involved in building a wall along the U.S.-Mexican border: 
Under the legislation, the Illinois Investment Policy Board would conduct a review every four months to ensure the state is not investing in companies that receive federal contracts to work on the border wall. Last year, lawmakers approved legislation that required the state pension systems to stop investments in companies that boycott Israel.

Critics argue the focus should be on beefing up the state’s investment returns, noting the state’s $130 billion unfunded pension liability. Guzzardi counters there are plenty of companies to invest in that will help the state’s bottom line. He plans to call the bill for a vote in the House next week, but faces a tough deadline to get it through the Senate before a new crop of lawmakers is sworn in Jan. 11.

Republican Gov. Bruce Rauner declined to weigh in on the legislation, saying he needed to review it further. But he said it was time to move past the "appalling" rhetoric of the campaign, saying "the people of Illinois value inclusion and tolerance and diversity."

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