Full Breakdown
New York Comptroller Race: Raj Goyle's Push to Divest from Israel Bonds
1/2/2026, 12:45:41 AM
Goyle's Divestment Proposal
Raj Goyle, an insurgent Democratic candidate for New York State Comptroller, has announced a plan to divest approximately $338 million in foreign assets, specifically targeting Israel bonds held by the state's retirement fund. Goyle, a tech executive and former Kansas state legislator, made this pledge during an event with the Working Families Party, positioning himself against incumbent Comptroller Tom DiNapoli, who has maintained the state’s investment in Israel bonds. Goyle stated, “When I am comptroller, we will not renew the foreign bond portfolio of the state comptroller’s office and that includes Israel bonds,” emphasizing his stance against what he describes as funding for “Benjamin Netanyahu’s war crimes in Gaza.”
Background on the Current Investment Strategy
The Common Retirement Fund (CRF), managed by the New York State Comptroller’s office, oversees pensions for state and municipal workers and currently holds about $337.5 million in Israel bonds as part of its extensive $291 billion investment portfolio. DiNapoli has defended these investments, arguing that they provide stable returns and support a key U.S. ally. He recently invested an additional $20 million in Israel bonds following the October 7, 2023, attack by Hamas, stating, “In addition to providing a steady return for our pension fund’s members, Israel bonds help support one of our nation’s strongest allies.”
Criticism of Goyle's Position
Goyle's campaign argues that the recent downgrade of Israel’s credit rating by Moody’s, following the Hamas attack, renders these bonds a “risky” investment. His campaign manager, Jyot Singh, criticized DiNapoli’s approach, asserting that public pension funds should not be used to support alleged human rights violations abroad. Singh stated, “At a bare minimum, public pension dollars should not be funding human rights violations abroad,” framing Goyle's divestment as a means to address the affordability crisis in New York.
Official Statements & Responses
DiNapoli's campaign has not publicly commented on Goyle's accusations. However, DiNapoli has consistently highlighted the dual benefits of investing in Israel bonds: financial returns for pension fund members and support for Israel as a democratic ally in the region. His long-standing affiliation with the Working Families Party has also been noted, as he has run on their ballot line since 2014.
Conflicting Reports & Gaps
While Goyle's campaign emphasizes the risks associated with Israel bonds, DiNapoli and supporters argue for their stability and the importance of supporting an ally. The debate centers around the ethical implications of investing in Israel amidst ongoing conflict, with differing views on the impact of such investments on human rights and financial returns.
What's Next
As the primary election approaches, Goyle faces not only DiNapoli but also other challengers, including Drew Warshaw and Adem Bunkeddeko. The outcome of this race may influence future investment strategies for New York’s pension funds, particularly regarding foreign bonds and ethical considerations in investment decisions.
