Smiley Says Council Ordinance "Reeks of Antisemitism," Promises Veto

Smiley Says Council Ordinance "Reeks of Antisemitism," Promises Veto

Providence Mayor Brett Smiley is blasting a proposed City Council ordinance to divest from Israel.

Smiley says the ordinance "reeks of antisemitism."

According to the ordinance sponsored by Council President Rachel Miller, Councilors Justin Roias, and Miguel Sanchez, “City investments are a reflection of our values, and the Providence City Council has an ethical and financial responsibility to ensure taxpayer dollars are not invested in war crimes and human rights violations.”

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"Not a single Providence taxpayer dollar should ever go to funding genocide," said Sanchez. "Our investments are a reflection of our values. Upholding the values of peace, freedom, and justice means not contributing to a war that has taken the lives of 15,000 children."

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Smiley Promises Veto

Smiley ripped the council, “I am deeply concerned and disappointed in the City Council’s proposed divestment ordinance that reeks of antisemitism. The ordinance is divisive and polarizing and will only make members of our Jewish community feel further isolated and targeted. I have worked hard to ensure our local Jewish community feels safe and welcomed and share the RI Jewish Alliance’s strong concerns about the language and misguided purpose of this ordinance.”

“Currently, the City of Providence has no direct investments in State of Israel Bonds. Within the pension portfolio of approximately $430 million, the City holds a passive index fund valued at $7.5 million that holds a wide range of international bonds from a multitude of countries and as of this year only 0.4% of that investment is in State of Israel Bonds, totaling only $29,940. An ordinance requiring the divestment of a bond of this size is unproductive, ineffective and possibly violates state law,” said Smiley.

 

“I am strongly opposed to this ordinance and if passed, intend to veto it,” Smiley added.

The proposed ordinance was referred to the Finance Committee.