Pittsburgh’s Mayor Wants to Divest City Pension Funds from Gun Companies

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posted on June 6, 2019
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Using a financial bullying tactic, Pittsburgh Mayor Bill Peduto renewed his efforts to push his gun-control agenda by targeting firearms manufacturers.

 In a letter dated May 31, Peduto asked the Board Members of the Comprehensive Municipal Pension Trust fund to divest from firearms and ammunitions companies in the city’s investment fund valued at about $463 million.

 America’s First Freedom has documented efforts by politicians and companies to erode Second Amendment rights by exerting financial pressure on pensions and institutional investments. At the same time, city mayors continue to advocate anti-gun political opinions by enforcing ordinances targeting law-abiding gun owners and their businesses. Peduto is a notable figure in the movement.

 A recent study by the Center for Retirement Research at Boston College suggests “social investing” may not be beneficial overall to the health of public pension funds, as Peduto has requested of the pension trust board to consider doing. Pittsburgh carry advocates have protested against the mayor’s political advocacy.

 Meanwhile, two pro-gun U.S. senators submitted a bill this month to counter efforts to prohibit financial discrimination on firearm and ammunitions companies.

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