Gov. Ron DeSantis met Tuesday with the two other State Board of Administration trustees, Florida’s Chief Financial Officer Jimmy Patronis, and Attorney General Ashley Moody. They voted to construct policy changes on how proceeds of more than 30 funds and the state’s retirement system investment plan are spent to “combat woke corporate ideology and malign foreign influence.”
The state will investigate its holdings in Chinese companies and “retake control of its shareholder proxy voting from ideology-crazed investment funds,” the governor said.
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“If you look at how these major companies behave when faced with Chinese disapproval, they censor what the CCP tells them to censor, and we see groveling apologies,” DeSantis stated. “Go back a generation, and the idea of the American elites was, ‘If we allow China into the WTO and give them the most favored nation status, that will make China more like us.’ This experiment has failed, and it has endangered our nation’s national and economic security.”
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DeSantis requests that the state Legislature make statutory changes to further prevent Florida’s taxpayer dollars from being invested in China and obtain manufacturing jobs for Florida instead of Chinese goods to strengthen the state’s fiscal footing.
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“I also think that our country as a whole, but certainly Florida, would like to see more production and manufacturing reshoring and we would be a great place to do that,” DeSantis said.
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The governor went on to note that the SBA trustees’ vote sends a message “to those in corporate America who prop up a genocidal, authoritarian, imperialist regime that they will not do so with Floridians’ money.”
Tuesday’s action follows steps from DeSantis this summer to protect Florida from foreign influence. In August, the governor listed Ben & Jerry’s parent company Unilever as one of the state’s "Scrutinized Companies that Boycott Israel" following an announcement from Unilever that it would remove its products from Judea and Samaria.
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Additionally, DeSantis signed legislation back in June for better vetting procedures for financial connections that seek to use taxpayer-funded grants or contracts. Just the News reported that under the law, universities and colleges are now forced to disclose foreign donations and grants of $50,000 or more to the state, and state agencies and political subdivisions must report foreign donations and grants of $50,000 or more to the state, according to the law.
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