According to an official press release from the office of California Assemblyman Travis Allen (Huntington Beach, R), Allen will be introducing legislation to encourage California to divest from companies that boycott Israel.
The legislation will ask that CalPERS and CalSTRS specifically divest from any company:
“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”.
According to the release sent by Allen's office:
“The United States and Israel have historically stood together as allies due to our unique bond founded on shared values and our unwavering commitment to freedom and democracy. Any company that is intentionally inflicting economic harm on the state of Israel is not economically aligned with the values of California’s residents and is undeserving of California’s financial investments.
“Israel is recognized around the world as the strongest democratically-elected government in the Middle East, which is one of the many reasons the nation’s relationship with the United States is imperative to the security and strength of California.
“It is unconscionable for our state to invest with companies that play politics and boycott our critical allies. California has developed long standing social, political, and economic partnerships with the State of Israel that should not be cast aside by politicians.”
