NJ Democrats look to bar pension funds via investing in gun makers

brand new Jersey legislators on Thursday said they plan to introduce bills to bar state pension funds via investing in gun manufacturers.

A bill which state Sen. Vin Gopal, a Democrat, plans to introduce might prohibit the state via investing assets of any pension or annuity fund in companies which manufacture firearms or ammunition, according to a statement e-mailed by Senate Democrats.

The move can be one of many recent calls for weapons industry restrictions following the deadly mass shooting at a Florida high school on Feb 14.

A spokeswoman for the brand new Jersey Department of the Treasury did not immediately comment on what weapons stocks its pension funds may hold. Filings show the sale of 10,000 shares last month of ammunition maker Olin, as well as the sale of debt in gun maker Remington Outdoor Co.

“With This particular bill we are sending a message which brand new Jersey can be creating a conscious decision about the type of companies the state should invest in,” Gopal said inside statement.

Two members of the state’s assembly also plan to introduce the bill in coming weeks, according to the Discharge.

Democrats hold a majority in both houses, as well as the state’s brand new governor, Phil Murphy, can be also a Democrat.

A spokesman did not immediately say whether Senate President Stephen Sweeney might support the investment ban.

Leave a Reply

Your email address will not be published. Required fields are marked *


eighteen + 8 =