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Trump pushes back on criticism of economy in contentious prime-time speech; 'A gut punch': GA small-business owner on loss of ACA subsidies; Conservationists: CO outdoor economy at risk from development; Report: MO outpaces nation on after-school meals but gaps remain.

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Legal fights over free speech, federal power, and public accountability take center stage as courts, campuses and communities confront the reach of government authority.

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States are waiting to hear how much money they'll get from the Rural Health Transformation Program, the DHS is incentivizing local law enforcement to join the federal immigration crackdown and Texas is creating its own Appalachian Trail.

Report: Limits on 'Sustainable Investing' Hurt KY Taxpayers

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Wednesday, February 8, 2023   

Kentucky lawmakers are clamping down on corporations advocating environmentally and socially responsible investing.

A new report said the decision comes at a cost. The report by EcoConsult Solutions finds limiting investments will likely cost taxpayers at least $26 million, and perhaps as much as $70 million annually.

Senate Bill 205, signed into law by Gov. Andy Beshear last year, restricts companies deemed by legislators to be "energy boycotters" from doing business with the Commonwealth.

Mark Ritter, a Franklin County resident and retiree from the Kentucky Department for Environmental Protection, believes his freedom to invest and make the best financial decisions has been curtailed.

"The fact that was signed into law hijacks my options as an investor," Ritter contended. "Investment
decisions in the marketplace should be made by me, in consultation with my financial adviser."

Last month, more than a dozen Kentucky lawmakers introduced a bill to restrict companies they said boycott firearms. House Bill 123 would block governmental bodies from entering into contracts valued at or above $100,000 with companies legislators claimed "discriminate against" gun manufacturers or firearm trade associations.

Ritter thinks most Kentuckians want state investment funds to consider environmental and social factors, especially as the western and eastern parts of the state continue to rebuild from extreme flooding and tornadoes.

"This law to protect the fossil fuel industry by punishing financial institutions and their customers is an outrageous abuse of power," Ritter argued.

According to the report, more than a dozen states so far have either passed or have bills pending to pull state funds from investments deemed to be adverse to the oil and gas industry.


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