Overcast
49°FOvercastFull Forecast

House defeats divestiture of gun companies

Published: Friday, April 19, 2013 5:30 a.m. CDT

SPRINGFIELD – The Illinois House has rejected a plan to force public pension systems to dump investments in gun manufacturers.

The bill sponsored by Chicago Democratic Rep. Christian Mitchell would not have applied to companies that make ceremonial weapons or just components.

It failed 46-69.

After the Connecticut school massacre in December, teacher pension funds in California and Chicago divested their holdings.

Opponents argued pension managers should look for the best investment return regardless of what the company produces.

They said if guns are out-of-bounds, investments should not be made in knife manufacturers or makers of baseball bats.

Get breaking and town-specific news sent to your phone. Sign up for text alerts from the Daily Chronicle.

Watch Now

Player embeded on all DDC instances for analytics purposes.

NIU-Miami postgame

More videos »

Reader Poll

Do you plan to watch the “Dr. Phil” program on the Maria Ridulph case?
Yes
No