Senate Minority Calls On Comptroller DiNapoli To Reject Senate Majority Partisan Pension Politics

In response to Senate Democrats’ eye-rolling attempt to politicize New Yorkers’ retirement funds by demanding divestment from Tesla Inc. from the State’s pension fund, Senate Republican Leader Rob Ortt and members of the Senate Republican Conference penned a letter to Comptroller DiNapoli urging him to reject the Democrats’ purely political request that has nothing to do with pension fund performance.

 

The letter states, “While we recognize that catering to certain political factions may be tempting, as Comptroller, your fiduciary responsibility is to act in the best interest of the pension fund’s beneficiaries, not to engage in political posturing. Divesting from Tesla would be a disservice to the millions of New Yorkers who depend on the pension fund.”

 

“Additionally, we find it ironic that some of the same voices calling for divestment also frame climate change as an existential threat to humanity while seeking to divest from the world’s largest electric vehicle maker,” continued the letter.

 

“Calls to divest from Tesla are both short-sighted and blatantly hypocritical. The Comptroller’s primary responsibility is to secure the best financial return for New York’s public employees, not to engage in politically motivated decisions that jeopardize the pension fund. Tesla, as the largest U.S. manufacturer of electric vehicles, represents an innovative and successful company that aligns with the very climate priorities Democrats claim to champion. Demanding divestment from such a company is not only counterproductive but also exposes their fixation on partisan games over actual results,” said Senate Republican Leader Rob Ortt.

 

Democrats' efforts to use government power to go after Tesla sends a dangerous message to businesses everywhere. The coordinated political attacks are encouraging extreme actions, like setting fire to private property and calling for violence against people with different views. That kind of destruction and hate has no place in New York. We can’t allow the state pension fund to be part of such a reckless and undemocratic campaign.

 

A copy of the letter is attached.