Peoria Standard

State Senator Win Stoller has introduced new legislation criticizing the Illinois Office of State Treasurer for incorporating political considerations into the management of the state’s investments. The office oversees nearly $60 billion in investments.

The State Treasurer is tasked with ensuring economic growth and prosperity within Illinois. Any deviation from this mandate in favor of political agendas is seen as undermining public trust. The treasurer's duties include protecting and enhancing the state's investment portfolio and implementing savings programs to assist Illinois residents in securing a better future.

“He is foregoing his fiduciary responsibility in favor of his political agenda. His responsibility to the people of Illinois is to maximize return on investment of taxpayer dollars. Period,” said Senator Stoller. “Simply put, the treasurer needs to keep politics out of his investment decisions.”

The Treasurer is an advocate for the Environmental, Social, and Governance (ESG) investment philosophy, which has become controversial due to its perceived political motivations. Many major investment firms have moved away from ESG criteria, focusing instead on maximizing returns.

“The government has a terrible history as an investor with a political agenda, with boondoggles like Solyndra still etched in the public mind,” noted Senator Stoller. “As recently as last week, the treasurer inserted himself in a controversial, political shareholder dispute at a major U.S. corporation, acting more as activist shareholder than a conscientious steward of public money.”

Senate Resolution 1003 currently sits in the Assignments Committee.