HB 2601: Enviro-politicizes state investments (as pension debt is $24B)

By Taxpayers Association of Oregon

HB 2601 is up for a hearing this week on Thursday Feb. 16th. This bill would politicize state investments decisions by directing State investors to choose politically favored environmental stocks over traditional, reliable, historically money-generating energy sector stocks.    Look at the recent returns in the chart above. This comes as State investments in the State Government Pension system (PERS) is $24 billion in the red. That’s right!   While Oregon is suffering from a pension crisis (among the worst in the nation), liberal politicians want to make it worse by blocking safe stock picks.   This bill could lead to the State being pressured to pick failing environmentally favored stocks that are losing money.

HB 2601 reads, “Requires State Treasurer to exit from certain carbon-intensive investments, subject to fiduciary duties. Requires State Treasurer to develop plan to protect state investments from risks related to climate change. Requires State Treasurer to issue periodic reports on actual and planned progress towards completion of duties imposed under Act.”

Please testify on this bill.  You can even email the Committee your thoughts.

P.S. It doesn’t end with the environment, as liberal activists across the nation push laws to de-invest in companies related to Israel or firearm/hunting companies.  Do you remember Portland tried to boycott Texas?

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