Illinois House Passes a Bill Requiring Women, African-Americans on Corporate Boards

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The Illinois House of Representatives passed a bill mandating that all publicy-traded companies headquartered in the state must have a woman and an African American sitting on their corporate boards by 2021. [If the state passes the bill into law,Bye-bye Illinois – not because women and black Americans should not make policy decisions for businesses, but because the concept is racial and gender discrimination, it violates the property rights of stockholders, and it increases the risk of business failure by forcing owners to place social considerations above efficiency.] -GEG

The Illinois House of Representatives has passed a bill mandating that all publicly-traded companies headquartered in the state will need to have a woman and an African-American sitting on its corporate board by 2021.

Failure to comply could result in fines of up to $300,000.

A heated debate on the House floor preceded the bill’s passage, according to Illinois News Network.

“I’m not going to be ashamed to stand here and fight for the people that sent me here,” said Rep. Emanuel Chris Welch (D), who is African-American. “Let’s stand up for our people.”

“Ashamed to fight for African-Americans to have a right in the room? Are you kidding me?”

Opponents of the bill have warned that it will create more hurdles for Illinois business growth, effectively signaling that the state is unwelcoming of new companies.

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Andrew
Andrew
1 year ago

‘Affirmative Actionm” forced upon private corporations? We truly have been infiltrated by communists

Boomer Lady
Boomer Lady
1 year ago

Illinois investors simply need to pull out of any publicly traded company and put their money elsewhere, like precious metals, for instance.