Morales, Mack introduce bills to promote transparency in state pension investments
(The Center Square) – A pair of Rhode Island legislators have introduced bills in the state House and Senate that seek to promote international peace and fiscal transparency in regards to state pension investments in weapons manufacturers.
House Bill 7482, sponsored by Rep. David Morales, D-Providence, would call for the State Investment Commission to file a report that details how much money is being invested in military weapons manufacturing, while House Resolution 7518 encourages the federal government to pursue measures to reduce the chances of a nuclear war.
Sen. Tiara Mack, D-Providence, has sponsored Senate Bill 2423, which would encourage the federal government to pursue nuclear disarmament around the world.
Morales said that “nuclear weapons are a threat to life and peace everywhere.”
“As we continue to perpetuate the one-upmanship of nuclear arms between countries, while significantly increasing our annual military budget, we are multiplying the danger to innocent people across the world,” Morales said in the news release. “While every nation will claim that they want to avoid nuclear war, as long as some nations have that capability, there will be others clamoring to join them in defense.”
The proposed legislation comes as Russia builds up its military presence on the Ukraine border, and sent troops into Russian-friendly regions of the independent country and as the U.S. and Europe build up defenses in the region.
Morales said the way to peace “is not through more weapons,” and the United States needs to lead the way “toward a safer world.”
According to the release, HB 7482, which has drawn support from state Treasurer Seth Magaziner, the state’s investment commissioner, if the bill is enacted, the state would have six months to identify all military weapons manufacturers the pension fund invests in. A report would be filed with the state’s attorney general, the House of Representatives and the Senate.
House Resolution 7518 urges the federal government to undertake a global effort to prevent nuclear war. The resolution asks for the abandonment of using a nuclear weapon as a first strike and seeks to end the president’s authority to launch a nuclear attack. The resolution also calls for the abolishment of replacing the current nuclear arsenal with enhanced nuclear weapons.
Mack’s legislation is designed to shift federal spending away from war and focus on the needs of the people.
“The way to improve the lives of working people is not through the continuation of massive military spending and leaving the potential of nuclear war on the table,” Mack said in the release. “We should be directing this money toward the war on poverty, toward education and desperately needed housing and health care. Can we really say this military spending is making us safer when nearly 1 in 7 children in America are living in poverty? That’s the real danger to America, and where we should be directing our resources.”
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