New York City Aims To Divest From Assault Weapons Industry
Yesterday New York City Mayor Bill de Blasio’s office announced it has submitted a resolution to the NYC Police Pension Fund to analyze gun divestment from the assault weapons industry. In a press release the Mayor’s Office described the resolution as “The first step necessary to ensure that no public pension funding flows to gun manufacturers who produce assault weapons and high-capacity ammunition magazines and market these wartime products for civilian purchase.”
The move comes on the heels of President Barack Obama’s historic executive action to close loopholes in the requirements for background checks for gun purchases. The seemingly endless wave of mass shootings and other gun violence across the country have incited a growing demand for increased gun control laws. De Blasio explained:
“After the countless tragedies involving assault weapons, public outcry over mass shootings and legislative proposals to outlaw assault weapons, we should not be investing in companies that manufacture and market assault weapons to civilians–ever. Those weapons belong in the hands of the military and law enforcement only. As President Obama said, urgency needs to return to the gun control debate. Urgency and sanity. Let his bold, smart and sober move on gun control through executive action signal a turning point in the effort to end senseless acts of violence against Americans.”
De Blasio’s resolution, which was submitted on Wednesday, follows his previous call for gun divestment immediately after the tragedy in San Bernardino, California, in December of last year. In that shooting 14 people were killed, many of them by two assault rifles used by the assailants. At that time, de Blasio called on the boards of three of the City’s pension funds, the Police, Fire and Board of Education Retirement Systems, to divest from gun manufacturers.