Organizers from across the state held a press conference marking two years of war on the people of Gaza and renewing calls for No New Bonds - divestment of taxpayer money from the state of Israel and its genocidal project against the Palestinian people.

“It’s been two years of destruction of my family and my people. Two years of starvation and dirty water. Two years of gathering pieces of bodies in grocery bags. Two years of kill shots on children. And two years of watching my elected officials green light all of it, a genocide funded and supported by my government.”, read a representative from the Baldana, the Palestine Society of Columbus.

At least 60 people packed into the gallery of the state capital building in downtown Columbus as the rain fell steadily on the streets outside. Organizers had planned to demonstrate on the steps of the capital, but weather moved the event indoors.

The attendees represented No New Bonds, a sprawling coalition of faith groups, labor unions, and other community organizations including  Baldana, American Muslims for Palestine, Students for Justice in Palestine, Doctors Against Genocide, Veterans for Peace, Cleveland Palestine advocacy coalition, Palestine Solidarity Coalition, and the Communist Party USA. A complete list of coalition members is available at ohiodivest.org.

The No New Bonds coalition formed at the end of 2024 when organizations for Palestine advocacy across the state of Ohio mobilized to fight legislation criminalizing pro-Palestinian demonstrations. Since the defeat of those measures in the wake of broad public opposition, the group has focused its efforts on the vast investments by the state of Ohio, individual counties, and municipalities in Israel Bonds. Israel bonds are essentially low interest loans extended to the state of Israel to fund its operations, including the purchase of war materials for the genocide in Gaza. 

As bonds, these loans are made on extremely favorable terms in which the principal is only repaid at the end of the loan term. Typically the development corporation for the state of Israel, which oversees the sale of Israel bonds in the United States, lobbies state and local governments aggressively to ensure that the bond principle is immediately reinvested in new bond purchases upon maturation of the bond.

This is where the No New Bonds campaign has seen its greatest success – pushing back against the reinvestment of matured bonds. At the statehouse on Tuesday, speakers pointed out that "Israel Bonds are both horrifically unethical and wildly irresponsible. Israel bonds have no liquidity, poor yields compared to other investments, and the state of Israel's credit rating is the lowest of any state investment”. Liquidity refers to the ability to sell bonds for cash before their maturity date. State law makes it illegal to sell Israel Bonds before their maturity date, which means that millions of taxpayer dollars invested in the State of Israel cannot be accessed for years at a time. No other state investment has this restriction.

These messages, combined with the heartfelt pleas for peace in Gaza from the No New Bonds coalition, have persuaded at least 8 counties to decline to reinvest matured Israel Bonds assets over the past year. A total of $13 million has been successfully withdrawn from Israel Bonds in Summit, Cuyahoga, Franklin, Lucas, Richland, Coshocton, Medina, and Athens county.

At the conclusion of the press conference the No New Bonds coalition presented a legal brief to Robert Sprague, Treasurer of Ohio, and Randall Meyer, Inspector General of the State of Ohio. The brief demands immediate and permanent divestment from Israel bonds. Over 12 pages, the document lays out in detail the war crimes and human rights violations of the state of Israel and the complicity of Ohio taxpayers in these crimes through the purchase of Israel Bonds.

Importantly, the brief advanced the argument against the treasurer by charging that the acceptance of Israel Bonds dividends represents assistance in felony money laundering. “You can’t hide your ill gotten money in the Gaza strip by laundering it through Israel Bonds,” said Terry Jones, Counsel for No New Bonds. A copy of the brief presented to the treasurer and the inspector general has been obtained by Columbus Free Press and is available here. 

Following the press conference, a crowd of attendees marched from the Ohio Statehouse to the Rhodes State Officer Tower to deliver the letter to the offices of the Treasurer and the Inspector General. Terry Lodge intended to present the letters in person, however, both officials sent aides to collect the letters. 

Ohio has been among the leading states in investment in Israel Bonds. State Treasurer Robert Sprague oversees some $330 million in Israel Bonds investments by the state treasury, second only to Florida’s $700 million investment. In a clear conflict of interest, Sprague also serves as Chair of Israel Bonds’s Industry and Financial Services Leadership group, which lobbies for investments in Israel Bonds. “Ohio invested millions in Israel Bonds even after cutting school budgets in Ohio. Israel has universal healthcare and education. When do we get that here in Ohio?”, said Jay from American Muslims for Palestine.

Union members and veterans agreed. “There’s so many places we could use that money,” said former AFGE Local 12 steward and US Marine veteran Kevin, who attended as a representative of Veterans for Peace. The National Writers Union recognized the more than 250 journalists who have been murdered by Israeli forces. “Unions can help by telling the politicians that if you want our support this war has to stop” Kevin proposed.

The Quran teaches “Do not incline towards the oppressors.” The No New Bonds coalition has built a formidable and effective opposition to the monied and powerful interests funding war in Gaza through hard persistent organizing. Two years into the genocide in Gaza, Ohio taxpayes are insisting that their public investments be withdrawn from the ongoing oppression of the Palestinian people