SACRAMENTO — Three California Democrats have a warning for contractors who sign up for President Donald Trump’s border-wall construction project between the U.S. and Mexico: Build it, and we will divest from your company.
In the latest act of resistance against the Trump administration, the state lawmakers have introduced a bill that would force the state to drop its pension investments in any companies involved in the project.
“This is a wall of shame and we don’t want any part of it,” Assemblyman Phil Ting, D-San Francisco, said in a statement. “Immigrant stories are the history of America and this is a nightmare.”
Assembly Bill 946 would require the California Public Employee Retirement System and the California State Teachers Retirement System — the two largest public pension funds in the nation, with investments of $312 billion and $202 billion, respectively — to liquidate investments in any company involved with the wall’s construction within a year. It would also require the pension-fund management to report a list of those companies to the Legislature