Global investors warn Texas to withdraw transgender restroom legislation

[Jimbo101]

Rawstory

A group of global investors with $11 trillion in managed assets told Texas on Tuesday not to enact legislation restricting access to bathrooms for transgender people, saying it is discriminatory and bad for business.

The “Texas Privacy Act,” or Senate Bill 6, has been marked as a priority for Lieutenant Governor Dan Patrick, a Republican and conservative Christian who guides the legislative agenda in the Republican-controlled state Senate. He said the measure protected the privacy and safety of Texans.

The bill on a flashpoint issue in the United States is similar to a law enacted last year in North Carolina that led to economic boycotts and the loss of major sporting events, costing the state an estimated hundreds of millions of dollars in revenue.

“The bathroom bill was bad for North Carolina and it will be very bad for Texas,” New York City Comptroller Scott Stringer, a Democrat, told a teleconference, adding it was the first time investors of this size opposed the legislation.

Lawmakers in Texas and 13 other states have introduced so-called “bathroom bills,” which supporters say help protect privacy and safety but opponents argue target an already marginalized group in U.S. society.
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Springer said institutional investors including BlackRock, Alliance Bernstein, T. Rowe Price and state comptrollers and treasurers from places including New York and California sent a letter on Tuesday to Patrick and other Texas leaders calling on them to drop the legislation.

Let's see who blinks first

[riversedge]

1. Whow. I am impressed. Money talks--I HOPE!

[TexasMommaWithAHat]

2. Texas is going to dig in.

The powers that be might give in on bathrooms, but they are never going to give in on locker rooms and showers.

It's not hard to understand why that's going to be a sticking point, and I think the bathroom issue wouldn't have been such a big deal if it wasn't also tied to showers and locker rooms.

[old guy]

3. Texas don't need nobody else! We got oil!

I can hear it all now.

[drm604]

4. This is heartening.

It seems odd to see big money investors taking a moral stance but I'm not complaining!

[LeftInTX]

5. Employees

My brother is a pilot for American. Lots of LGBT employees.

[Aristus]

6. Texas is bringing stupidity to a money fight.

I hope they lose...