Florida may ban future investments with Venezuela

Rick Scott
Posted at 6:37 AM, Aug 16, 2017
and last updated 2017-08-16 02:40:29-04

TALLAHASSEE, Fla. (AP) - Florida is poised to take official steps to protest the current government of Venezuela, although the proposal under consideration could be considered more symbolic than substantive.

Gov. Rick Scott on Tuesday will ask the two other trustees who help him oversee Florida's roughly $150 billion pension plan to bar the state from making investments that could support the regime of President Nicolas Maduro.

But it doesn't appear Scott's proposal would have much of a practical effect. Florida's pension plan does not currently invest in any companies or securities that are controlled or owned by Venezuela.

The Scott administration has defended the policy by saying there is nothing in place that prevents future investments.

Some Democrats have been critical of Scott's approach and have said Scott should go further and also take aim at companies doing business with Venezuela.

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