Divesting in Iran Measure Passes in State House (audio)
By Eryn Clement
A measure that seeks to divest state funds from companies that do business with Iran has won final approval in the State House.
Senate bill 134 requires the state to dump stock in companies that do business in Iran. Supporters say some oil companies help Iran make money that the country then uses to support insurgents who kill U.S. troops. While a majority of lawmakers agree the bill should be signed into law, some feel more work could be done on the bill dealing with other terrorist nations. Representative Dan Lederman is a proponent of this bill. He says by divesting in Iran, it will take a toll on the oil companies.
“Senate bill 134 seeks to take advantage of Iran’s biggest weakness. Although Iran is rich in oil it lacks refining capacity. Iran imports 40 percent of its refined petroleum. By divesting from oil companies that help Iran develop its petroleum we can isolate the Moolah regime and cut off their biggest revenue source,” says Lederman.
The bill was passed with a 62 to 5 vote. The measure has already been approved by the Senate and will become law if signed by Governor Mike Rounds.
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