Posted by Josh Shapiro on Thursday, June 24, 2010
Dear Friend:
Five years of hard work came down to a single vote in the state House last week when representatives gave unanimous approval to pass legislation I originally introduced to prohibit Pennsylvania’s public pension funds and the state Treasurer’s Office from investing in foreign companies doing business in Iran and Sudan — countries designated as terror-sponsoring nations by the U.S. State Department. The bill is now on its way to the governor’s desk to be signed into law.
This bill requires Pennsylvania to divest the nearly $400 million it directly invests in foreign companies doing business in Iran and Sudan. Leveraging the Commonwealth’s economic power together with national and international sanctions will help further isolate our enemies and bolster our allies. It sends a clear message that if you want to do business with Pennsylvania, then don’t do business with the terrorists.
State-sponsored divestment is an important part of our national security and at the same time protects our retirees. Here’s why–exposing retiree pensions to the geopolitical risk in Iran and Sudan undermines their financial security, supports terror and genocide, and puts the Commonwealth’s assets at substantial financial risk. At the end of the day it’s simple — this is just the right thing to do.
I am under no illusions that the acts of Pennsylvania alone will bring Iran to its knees or end the genocide in Sudan. But I do believe that combined with tough sanctions, rigorous diplomacy and the possibility of military action, we will have an impact. We can be proud of that as Pennsylvanians, and I am proud that our hard work paid off.
As always, I welcome your feedback.
All the best,
Rep. Josh Shapiro
Posted by Mark Koenig on Thursday, April 29, 2010
From the PA Dept. of Education:
Students Saved $35.4 Million by Not Having to Retake Courses
Thousands of college transfer students from across Pennsylvania have benefited from a new, statewide system designed to maximize the number of credits they can transfer and count towards a college degree, according to a new report announced today by Education Secretary Gerald L. Zahorchak.
The report on the Pennsylvania College Credit Transfer System revealed that in 2009 alone, students saved nearly $35.4 million by having their transferred credits count towards a degree.
(…)
“The new law has clearly worked to make college more affordable and accessible for Pennsylvania students,” said Rep. Josh Shapiro, the author of the transfer language in Act 114. ” Prior to Act 114, college credits were not fully tranferable and students were often forced to pay to retake and pay for classes when they changed schools.”
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Posted by Website Admin on Wednesday, January 13, 2010
Timothy McNulty from the Pittsburgh Post-Gazette writes:
Architects of a state House bill to divest billions of dollars in pension funds from companies doing business with Iran and Sudan have been looking for support from the Senate and yesterday they got it in a big way — from U.S. Sen. Bob Casey.
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Posted by Website Admin on Thursday, November 19, 2009
As a bill to divest Pennsylvania funds of companies with ties to Iran and Sudan approached a vote in the state House this week, Rep. Doug Reichley saw an opportunity.
Reichley, a Republican from the Lehigh Valley, believes the persecution of religious minorities in China, the movement of American manufacturing to China, and the threats of the North Korea dictatorship poses moral and economic threats to Pennsylvania.
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Posted by Website Admin on Thursday, October 29, 2009
Bryan Schwartzman, Staff Writer for Jewish Exponent reports:
As the Obama administration awaited an official response from Iran as to whether it would abide by a draft plan concerning uranium enrichment, two Pennsylvania lawmakers highlighted efforts on Capitol Hill and in Harrisburg to enact deeper sanctions against the Iranian regime.
U.S. Sen. Bob Casey (D-Pa.) and State Rep. Josh Shapiro (D-District 153) touted those efforts during an Oct. 26 news conference held at the Jewish Community Services Building in Philadelphia. Casey and U.S. Sen. Sam Brownback (R-Kan.) introduced the Iran Sanctions Enabling Act, which would authorize state and local governments — and their pension funds — to divest from companies doing business with Iran’s energy sector.
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