Texas Advances Bill Impacting Wall Streets’ Disapproval of American Gun Ownership
Posted on 05/13/2021
As Northeast states pass executive orders and laws to pressure banks on guns, Southern states are pushing back with their own legislation, putting Wall Street in the middle. The Texas House of Representatives passed a bill that would block state and local governments from contracting with banks and other financial-services companies that have policies that limit their work for the firearms or ammunition industries. Texas is home to a number of public funds including UTIMCO and the Teacher Retirement System of Texas. The State of Texas also taps the municipals markets for debt. The legislation would affect governmental entities, which Texas law defines as state agencies, as well as political subdivisions like counties, municipalities and school districts.