Amid budget deficit, Miami activists again call for divestment of Israeli bonds
Why it matters: Activists, including members of the Break the Bonds Miami campaign, argue the county is sending resident taxpayer dollars to support an ongoing war and what critics describe as genocide.
Continuing such investments, they argue, is not only immoral but a poor economic decision. Last month, Moody's maintained its rating and negative outlook for Israel bonds, Reuters reported.
Catch up quick: The county began investing in Israeli bonds in 2016, after it amended its policies to allow investments in the foreign government, purchasing two bonds for a combined $50 million.
Today, it has multiple bond investments totaling more than $151 million, including a $25 million bond it purchased Feb. 1.
The big picture: The calls to divest come as the county weighs a budget that calls for cuts between 10% and 35% for some departments to offset a more than $400 million deficit.
Activists have argued the budget gaps further underscore the need to divest from what they say is an irresponsible and immoral investment and reinvest in county programs.
The latest: During Mayor Daniella Levine Cava's first budget town hall last week, community members called on her to recommend that commissioners change the county's investment policy to exclude Israel and not reinvest the bonds once they mature.
While commissioners approve the investment policy, the board doesn't direct which specific investments are made.
What they're saying: "The purpose of our county's investments is to increase liquidity," one speaker said. "Israel bonds do the opposite."
Even outside of the war against Gaza, activists claim better economic investments would be in local funds, such as housing bonds.
The other side: At the hearing, Levine Cava touted the county's 2023 investment and said the operating budget and investment portfolio were separate funds, according to multiple people at the meeting.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hill
5 minutes ago
- The Hill
DHS DENIES Tying FEMA Disaster Relief Funds With SUPPORT For ISRAEL After BACKLASH
Robby Soave and Niall Stanage discuss the Trump administration backpedaling on initially suggesting FEMA funds will be denied grants to states and cities that boycott Israeli companies. #FEMA #Israel #Trump
Yahoo
18 minutes ago
- Yahoo
Fox News gets inside look at Gaza humanitarian situation as Israel weighs next steps
As the world discusses the reality of the humanitarian situation in Gaza, Fox News' Bill Hemmer got a look inside a distribution site operated by the controversial U.S.- and Israel-backed Gaza Humanitarian Foundation (GHF). Fox News was the first outlet to witness a newly established distribution center operated mostly by former U.S. forces who coordinate with the Israel Defense Forces (IDF). Hemmer said that the sites are not without their problems or controversy, but that the Americans working with GHF are proud of what they have accomplished. In terms of the status of Gaza, Hemmer said that Rafah was clearly decimated by the IDF. The southern Gazan city is where Israel believes Hamas had its headquarters and where the terror group held hostages taken nearly two years ago, on Oct. 7, 2023. Israeli Prime Minister Benjamin Netanyahu appears to be considering a full occupation of Gaza. If Israel makes this move, it would be a complete reversal of its policy dating back to 2005 when it pulled out of the enclave. Hostages' loved ones have expressed opposition to the plan out of fear that it would put those still held captive in even more danger. Palestinians who spoke with Hemmer said they were hungry, and tired of the war and of Hamas. Hamas Losing Iron Grip On Gaza As Us-backed Group Gets Aid To Palestinians In Need Read On The Fox News App "All this food here will be gone in about 15 minutes," a GHF worker told Hemmer as the two stood in the middle of several palettes of food. "They'll all come in, they flood in here, they have bags they'll stuff the food into, throw the big bag over their shoulder and they'll head out." The worker also told Hemmer that the organization allows Palestinians to remain on the GHF site for about an hour after it opens. Hemmer's visit comes as the organization faces international condemnation and a call from the United Nations Human Rights Council (UNHRC) for its "immediate dismantling." "Palestinians are paying the ultimate price of the international community's legal, political and moral failure," a UNHRC statement read, citing the opinions of several U.N. experts. One such expert named in the statement is Special Rapporteur Francesca Albanese, who has been repeatedly condemned by multiple governments, including the U.S., the U.K. and France, for making antisemitic statements. Albanese and the other experts also say that GHF is "an utterly disturbing example of how humanitarian relief can be exploited for covert military and geopolitical agendas in serious breach of international law." Gaza Humanitarian Foundation: What To Know About The Us-backed Aid Group U.N. experts also claimed that Israeli forces and foreign military contractors indiscriminately fire at Palestinians seeking aid at GHF sites. However, GHF has consistently denied the use of force against civilians at its sites. On several occasions, the organization has sounded the alarm over threats emanating from Hamas against aid workers and seekers. This aligns with a request GHF had for Fox News, which was to blur the faces of the Palestinians working with the organization out of fear of Hamas retribution. Trump Officials Visit Gaza Aid Sites As International Community Pressures Israel GHF says it has distributed over "106 million meals efficiently and directly" since May while pushing back on criticism and claims that its sites are dangerous. The organization insists that its goal is to feed Palestinians in need while bypassing Hamas, the terror group governing the war-torn enclave. The aid organization recently received $30M from the Trump administration in addition to millions coming from donornations in the region. Recently, the U.N. released its monthly infographic on UN2720 Mechanism for Gaza. In June 2025, the U.N. reported that out of its 1,090 aid trucks, only 47 arrived at an "intended civilian destination inside Gaza." Meanwhile, the other 1,043 trucks were allegedly intercepted "either peacefully by hungry people or forcefully by armed actors" in Gaza. At the request of the U.N., Israel will let limited commercial goods enter the enclave, according to Fox News Chief Foreign Correspondent Trey Yingst. This strategy is apparently aimed at getting more goods into Gaza markets, allowing those in need of free aid to get to it article source: Fox News gets inside look at Gaza humanitarian situation as Israel weighs next steps Solve the daily Crossword
Yahoo
an hour ago
- Yahoo
Mexico reveals plans to address Pemex debt, boost investment
MEXICO CITY (Reuters) -Mexico's government on Tuesday announced a plan aimed at moving its highly indebted state oil company Pemex toward financial self-sufficiency, and the establishment of a new investment vehicle and efforts to stabilize oil production. President Claudia Sheinbaum told a press conference that by 2027, Pemex "will no longer need the finance ministry's support," referring to the recent support it received from the government to pay down debt. "Pemex is going to have sufficient revenues to be able to pay its debt, its amortizations and have the sufficient budget for the investment it requires," she said. The world's most indebted energy company, Pemex reported last week a financial debt of $98.8 billion. That week, the Mexican government announced a $12 billion debt offering to ease Pemex's short-term financial pressures and support debt refinancing. Speaking after the president, Pemex Chief Executive Victor Rodriguez outlined several operational initiatives to support the plan, including leading the development of the Zama and Trion fields and reactivating other fields with potential. Officials also announced a new government-backed investment vehicle to raise up to 250 billion Mexican pesos ($13 billion) this year in efforts to boost production. In addition, Pemex intends to build three new pipelines. To improve profitability, Rodriguez said that Pemex would adjust its price formulas and eliminate unjustified discounts. ($1 = 18.8228 Mexican pesos) Sign in to access your portfolio
