Controversy Arises Over Miami-Dade County’s Investment in Israel-Backed Bonds

James Fischback, a former candidate for governor in Florida and a notable political figure, faced removal from a Miami-Dade Board of County Commissioners meeting. This occurred on Tuesday afternoon when he protested the county’s decision to increase investment in bonds backed by Israel.

“Do you serve the people of Hialeah or of Haifa? Do you serve the people of Aventura or of Tel Aviv? Do you serve the people of South Miami or of Jerusalem? This money should be invested here in this community. It should be invested in Miami-Dade County,” he asserted before being escorted out.

The confrontation followed a recent vote by the county to raise the investment cap with Israel from 3% to 5% of its portfolio. This decision permits investing an estimated $400 to $450 million. Opposition has emerged from figures like Fischback, criticizing the use of public funds for investment in Israel amidst ongoing Gaza conflicts, fueling political divisions in the U.S.

Fischback, a Republican, has gained national attention for his views on race and confrontational public appearances. He was among 11 GOP candidates aiming to succeed outgoing Governor Ron DeSantis, securing 10.4% of votes in the August 18 primary. His campaign drew attention for inflammatory statements, including referring to Rep. Byron Donalds, the frontrunner and one of the only Black Republicans in Congress, as a “slave” during a news conference.

“Byron Donalds is a slave. I’m sorry, he’s a slave. He is a slave to his donors. He is a slave to the corporate interests, to the tech bros that want to turn our state into, in his own words, a financial capital,” Fischback remarked.

Fischback continued his criticisms, calling out Donalds directly, labeling him a “DEI hire” and using a megaphone to voice his views as Donalds returned to his car.

Concerns about the portfolio change weren’t solely Fischback’s. Other public voices expressed disappointment in directing investment dollars toward Israel, considering the political sensitivity of U.S.-Israel relations. Ivar Fandel, wearing a “let Gaza live” shirt, voiced concerns about the investment and its context amid budget constraints and ongoing conflict in Gaza.

During his campaign, Fischback declined contributions from the American Israel Public Affairs Committee (AIPAC) and pledged to divest from Israel-backed bonds. He emphasized Florida’s policy against using taxpayer funds for foreign government bonds, criticizing exceptions made for Israel.

“Florida has a specific policy. You’re not allowed to use taxpayer funds to buy foreign government bonds, with one exception: Israel. My premise is, first principles, we should not be lending taxpayer pensioner money to any foreign government,” he stated in an interview with the American Conservative.

Fischback criticized several candidates, including Donalds, for what he termed “singular allegiance” to Israel. He stressed that such allegiance undermines the representation of U.S. interests.