The fallout from North Carolina’s House Bill 2 continues six months after Gov. Pat McCrory signed it into law.
In the latest blow to the controversial “bathroom bill,” 60 investment managers from across the country representing more than $2.1 trillion in managed assets have called for the state to repeal the law, which effectively bars transgender people from using the restroom that best corresponds with their gender identity.
The chief executive officer of Trillium Asset Management, which has an office in Durham, North Carolina, warned that the Tar Heel State could be headed for “a state-government-inflicted recession” because of the bill, which McCrory has aggressively defended since signing March 23, the Associated Press reports.
Blasting North Carolina for having “written discrimination into state law,” Matt Patsky told The Charlotte Observer that the “unintended consequence has been a backlash that is having material, negative impact on the economy of the state. HB2 must be repealed immediately before this damage becomes irreversible.”
Patsky spoke at a Monday news conference in Raleigh, North Carolina, where he presented the initiative on behalf of Trillium along with other organizers, including Croatan Institute, an environmental research group, and New York City Comptroller Scott Stringer.
Unfortunately, McCrory didn’t seem fazed by the latest opposition. Officials from the Republican governor’s re-election campaign released a statement from McCrory Monday that read, “For New York hedge fund billionaires to lecture North Carolina about how to conduct its affairs is the height of hypocrisy.” The statement, which can be read in full on local ABC affiliate WTVD’s site, also blasted Democratic presidential hopeful Hillary Clinton for having raised “ungodly amounts of money” from Wall Street for her own campaign.
Still, McCrory’s statement overlooks the fact that his state has been experiencing near-constant pushback from various industries over the controversial bill. Bruce Springsteen, Pearl Jam and Cirque du Soleil have all opted out of North Carolina performances in the wake of the legislation, and the law was also cited by Deutsche Bank and PayPal as incentive to scrap expansion plans in the state.
The governor’s decision to back the bill in spite of the backlash hasn’t gone over too well with residents, either. A Monmouth University poll published in August found that 55 percent of North Carolina voters opposed House Bill 2, while seven out of 10 voters believe it had hurt North Carolina’s national reputation.
Still, to put it in McCrory’s words, we ask: