HB 151 floor silence: major compromise for Iran divestment

Acccording to the Columbus Dispatch:

Instead of approving a bill that would have required the state’s five public pension systems to divest all of their nearly $1.1 billion in investments tied to Iran and Sudan, House leaders decided to ask fund executives to voluntarily give up half of those investments by year’s end.

They were given 48 hours to decide whether to agree to the deal brokered by House Speaker Jon A. Husted, R-Kettering, after several hours of private meetings. The compromise came after weeks of sometimes emotional debate over whether the money of retired state employees should be used as bargaining chips in national-security policy.

The original bill would have forced the pensions to withdraw investments in all companies that do business with Iran. Reps. Josh Mandel, R-Lyndhurst, and Shannon Jones, R-Springboro, later agreed to strip the bill down to energy companies, but it was expanded to include Sudan.

Nice job. Nice job. Far more realistic and persuasive with an easier way to get buy-in and support for this kind of movement overall.

Thanks. I look forward to looking at it again.

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