Congressman Brendan Boyle Introduces Legislation Preventing the Federal Pension System from Supporting Companies that Boycott Israel
Washington, DC- Today, Congressman Brendan Boyle (D-PA-13) introduced a bill that would prevent the federal pension system from investing in companies that boycott Israel.
“This is an important statement of principle and act of fiscal responsibility,” said Congressman Boyle. “It’s time we take a stand and say we will not invest taxpayer dollars, the hard-earned pension dollars of our dedicated federal workforce, in companies that disinvest in our close ally and trusted friend, Israel. This is a simple but important, overdue step toward addressing this issue.”
Congressman Boyle’s legislation would prohibit investments by the federal retirement system in companies that boycott Israel. The language of the bill is listed below:
To prevent the federal pension fund from investing in companies that boycott Israel.
Transactions prohibited by federal retirement systems; companies that boycott Israel.
(a) As used in this Section:
“Boycott Israel” means engaging in actions that are politically motivated and are intended to penalize, inflict economic harm on, or otherwise limit commercial relations with the State of Israel or companies based in the State of Israel or in territories controlled by the State of Israel”
“Company” means any sole proprietorship, organization, association, corporation, partnership, joint venture, limited partnership, limited liability partnership, limited liability company, or other entity or business association, including all wholly owned subsidiaries, majority-owned subsidiaries, parent countries or affiliates of those entities or business associations, that exist for the purpose of making profit.