CHICAGO (CBS) — As Mayor Rahm Emanuel pushes for tougher gun laws in Washington on Monday, he also wants companies that manufacture or sell assault weapons to be removed from city retirement investment plans.
The mayor’s office announced that Emanuel is asking city pension and retirement fund managers to review their portfolios “as a first step” in removing those companies.READ MORE: Plummer, Cockburn Lead Illinois Past Rutgers
“We’re going to divest of any investment in any gun manufacturer,” he said.
According to the Chicago Tribune, Emanuel said he would lead a charge of mayors across the country urging them to do the same.READ MORE: Marcus Freeman Gets Enthusiastic Welcome As He Officially Becomes New Head Notre Dame Football Coach
Emanuel spoke at the Center for American Progress Action Fund in Washington, D.C.
Emanuel also wants to double the maximum jail time for possession of a firearm without a permit and possession of assault weapons.MORE NEWS: City Was Warned About Thousands of Corroding Light Poles But Failed to Fix Many, CBS 2 Investigation Finds
He also is proposing that firearm owners would be required to report the loss, theft, sale or transfer of a firearm to the Chicago police department and the Cook County sheriff’s office.