Niagara Leader

In a recent development, Senate Republican Leader Rob Ortt and members of the Senate Republican Conference have urged Comptroller DiNapoli to reject a proposal by Senate Democrats to divest from Tesla Inc. as part of New York's state pension fund management. The Republicans claim this move is politically driven and unrelated to the pension fund's performance.

The letter from the Republicans highlights, "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."

The Republicans also criticized the Democrats' position, stating, "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."

Ortt further expressed, "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."

The Republicans argue that the Democrats' push against Tesla is a dangerous misuse of government power, potentially inciting extreme actions and promoting destruction. They emphasize the need to steer clear of involving the state pension fund in such political maneuvers.