Despite campaign promise: New York City comptroller decided not to invest in Israeli bonds

New York City Comptroller Mark Levine announced that he will not renew the city's investments in Israeli bonds, contrary to the position he presented during his election campaign. Levine claims this is based on financial considerations alone, but Jewish community figures suspect he yielded to political pressure. The decision places him in a position similar to that of Mayor Zohran Mamdani.

New York City Comptroller Mark Levine announced on Wednesday that he does not intend to renew the city's investments in State of Israel bonds, despite the explicit support he expressed for such investments during his election campaign last year. The decision has drawn criticism from Jewish community figures and Israel supporters, who suspect it stems from political pressure from the progressive wing of the Democratic Party. The New York comptroller's role includes managing the pension funds of city employees, with assets exceeding $325 billion. Levine, who is Jewish and a declared supporter of Israel, told The New York Times that the decision was made on financial considerations alone: "I always said the decision would be based on economic considerations only, and not on politics." According to him, "due to several technical difficulties and financial considerations, we believe this is not an investment we can make at this time." The decision places Levine in a practically similar position to that of Mayor Zohran Mamdani, who opposes investing city funds in Israeli bonds. Scott Stringer, the former city comptroller, told the New York Post that "this inaction will further strengthen the BDS movement." Dov Hikind attacked Levine sharply on X, and Jeffrey Wiesenfeld expressed deep disappointment. New York City has invested in Israeli bonds since the 1970s, and the city's pension funds still hold investments worth about $285.42 million.