Pierre, S.D. (Dec. 8, 2022) – Governor Noem ordered the review of all investments under the control of the state government on Thursday for any potential threat to national security that they may pose, with an emphasis on investments in Communist China. Within hours of the press release, the South Dakota Freedom Caucus issued praise for Governor Noem’s efforts.

“Governor Noem’s conscious effort to protect our financial sector is to be commended,” said South Dakota Freedom Caucus Treasurer Representative Tina Mulally, stating that “Good money, to bad people, makes bad policy and we’re encouraged to see good policy being implemented here.”

Freedom Caucus members indicated that they will be bringing legislation to further protect South Dakota companies and consumers against environmental, social and governance, also known as ESG, policies this coming session and other related legislation they anticipate the Governor will be supporting as a part of the Governor’s efforts to protect South Dakota citizens from bad actors in our financial industry.

“It’s great to see the Governor acknowledging the impact of foreign interference and how it can impact our financial markets,” said Mulally.

Mulally noted that the Governor’s recent actions come within weeks of news articles, such as The Hill, that reported that the Biden administration’s subsidization of electric vehicles are giving a benefit to Communist Chinese controlled companies, and ESG ratings are strengthening China’s control on the global energy sector.

Which led Freedom Caucus Chair Representative Aaron Aylward
to comment that “The Governor is right in framing this as a national security issue, this is economic warfare and we are fighting an enemy within.” Representative Mulally said that this is an issue she has been looking at for sometime, introducing a legislative resolution to stop foreign countries from purchasing critical food supply companies and resources.

“There’s more at stake here than most people know,” said Freedom Caucus Vice Chair Representative Tony Randolph “and now is the time to act, before it’s too late to do so.”

The 2023 South Dakota legislative session begins this January 10th.

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