South Central PA News

HARRISBURG – State Sen. Doug Mastriano has introduced a bill aimed at divesting Pennsylvania from companies controlled by the Chinese Communist Party (CCP). Treasurer Stacy Garrity expressed her support for the plan, citing concerns about China's geopolitical risk and human rights abuses.

Garrity stated, "Due to serious concerns about geopolitical risk involving China, as well as the country’s record of serious human rights abuses, I directed my investment team to divest all of Treasury’s holdings in China in the first half of 2022." She added, "I believe it would be smart to do the same across all Commonwealth funds, and I applaud Senator Mastriano for introducing this legislation."

Mastriano highlighted the CCP's actions, stating, "The CCP has used force and aggression to commit genocide against Uyghur Muslims, methodically erode self-rule in Hong Kong, weaken democracy in Taiwan, and abuse basic human rights in Tibet." He also pointed out the connection between Chinese-made fentanyl and the opioid epidemic in Pennsylvania, emphasizing the need to separate state funds from CCP-controlled companies.

Mastriano's Senate Bill 1141 aims to gradually divest Pennsylvania's holdings in CCP-controlled companies, including the state's public pension systems. He emphasized, "We want our two public pension systems – SERS and PSERS – to enhance their earnings, but not by investing in companies that benefit a regime that routinely commits human rights violations."

The bill has been sent to the Senate Finance Committee for consideration. Constituents can find more information about Mastriano on his website or Facebook page.

For media inquiries, please contact Josh Herman at 717-787-9603.