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Delegate Caitlin Young and allied unions urge Maryland to divest $65.5 million in Israeli sovereign bonds
Summary
At a lengthy Appropriations Committee hearing, sponsor Delegate Caitlin Young and dozens of supporters urged a favorable report on HB 14-55, arguing Maryland should divest roughly $65.5 million in Israeli government bonds on moral and fiscal grounds; opponents warned of legal and financial risks.
Delegate Caitlin Young asked the House Appropriations Committee to give a favorable report to HB 14-55, telling lawmakers the bill would require the Maryland State Retirement and Pension System to divest direct investments in Israeli sovereign debt and government-backed securities.
"Investing in the bonds of a foreign government actively engaged in conflicts is a significant and volatile risk to our investment portfolios," Delegate Young said, arguing the roughly $65.5 million currently invested in Israeli sovereign bonds could be reinvested in Maryland. She framed the bill as both a fiduciary and moral obligation and pointed to prior state divestments — South Africa, Sudan, Iran and more recently…
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