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politics1d ago
San Jose officials weigh advocates' calls to divest city funds from companies tied to ICE - Local News Matters
- San Jose officials are weighing a plan to divest city funds from companies that do business with ICE and related regimes.
- Advocates say public funds should reflect local values and push to cut ties with firms tied to ICE and other activities.
- City staff warned divestment could harm financial standing by narrowing the investment portfolio.
- Microsoft was identified as the only company in San Jose’s portfolio with ICE ties.
- City Council member Peter Ortiz pushed staff to study consequences of withdrawing from ICE-tied firms.
- Council debate follows a February committee meeting where divestment was advanced.
- Mayor Matt Mahan cited a $56 million budget shortfall during the discussion.
- Residents supporting divestment argued public dollars should safeguard residents regardless of immigration status.
- The investigation noted Microsoft’s ICE contract and city holdings in Microsoft bonds.
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