?

A reader asked the Question;

“I have been reading that all 50 state governments have investments in Israel’s government, and that our state income taxes are used to advance government programs there. Is this true? What should state citizens know?”

 

It is an important question, and the answer requires separating three very different things: a state investing public money, a state spending tax revenue on a program, and an elected official having political or professional connections.

 

What the records confirm

• Texas: In February 2026, the state comptroller announced an increase in its Israel Bonds investment from about $140 million to $280 million.
• Illinois: In February 2026, the state treasurer reported $100 million in Israel Bonds, about one-quarter of one percent of a $39 billion state investment portfolio. The treasurer described the holdings as an investment decision under state rules.
• Ohio: In February 2025, the state treasurer announced a $35 million Israel Bond purchase and reported $262.5 million in holdings at that time.
•  

These are purchases of bonds issued by the government of Israel. Buying a bond means lending money in exchange for promised interest and repayment. The funds can support the issuer’s general financing, but a bond purchase alone does not prove that a particular state tax payment was earmarked for a particular foreign government program.

 

Does every state invest?

We could not verify the claim that all 50 states invest in Israel Bonds. A public-records tracking project lists confirmed or suspected holdings in some states and marks many others “unconfirmed.” Unconfirmed does not mean zero; it means the available documentation is insufficient. The seller of Israel Bonds serves investors across all 50 states, but offering bonds nationwide is not evidence that every state government owns them.

 

What about Massachusetts?

A public-records tracker says it has not yet confirmed Israel Bond holdings for the Massachusetts State Treasurer’s Office. That is not proof that Massachusetts has no exposure: public pension funds, local governments, and the state treasury are distinct entities, each requiring its own records. Lists of officials’ affiliations are not substitutes for investment statements or appropriation records.

 

What citizens can ask

• 1. Which public fund made the purchase: the treasury, a pension system, or a city or county?
• What bonds are held, in what amounts, and when do they mature?
• What law or investment policy authorized the transaction?
• Were general tax receipts, pension assets, or another pool of public money used?
• Is there any documented appropriation for a specific foreign government program, separate from the bond investment?

 

Starting with the state treasurer’s investment reports, pension fund holdings, legislative budget documents, and public-records requests. Ask for dates and amounts, not just general statements about “ties.”

 

The bottom line

Yes, some states invest public funds in Israeli government bonds. No, the available evidence does not support claiming that all 50 states do so. And investing in a government bond is not the same as directly funding a named government program through a state budget. Citizens are entitled to ask where public money goes—and to receive precise, documented answers.

— Mare 🌹

 

 

Sources for readers

Texas Comptroller, February 12, 2026: https://comptroller.texas.gov/about/media-center/news/20260212-acting-comptroller-kelly-hancock-doubles-texas-investment-in-israel-bonds-marking-largest-purchase-in-state-history-1770753243996

Illinois Treasurer, February 2026: https://www.illinoistreasurer.gov/wp-content/uploads/2026/02/investment-earnings-release-2025-final.pdf

Ohio Treasurer, February 7, 2025: https://www.tos.ohio.gov/newsroom/article/treasurer-robert-sprague-announces-35-million-israel-bond-purchase

Public-records tracker (advocacy project; verify against primary documents): https://nobonds.techforpalestine.org/tracker/

Massachusetts treasury tracker entry: https://nobonds.techforpalestine.org/entity/ma-treasury/

 

By Mare Pagel  |  Been There, Done That  |  October 30, 2026

 

Have you ever noticed that the smaller the company, the bigger the promises in those investment newsletters?

 

A billionaire has supposedly made a secret investment. A tiny company is about to change the world. And ordinary investors have one last chance to get rich before Wall Street discovers it.

 

Oh, and there's usually a countdown clock.

Welcome to 80 Proof, where we investigate the story before considering the stock.

 

The $86 Million Mystery

Recently, I received a promotion claiming SpaceX had wired $86 million to a tiny company and taken a major stake in its most important project.

 

The company worth investigating is Solaris Energy Infrastructure, Inc. (NYSE: SEI), a business involved in power infrastructure.

The investment promotion linked an $86 million transaction to SpaceX. But the reported transaction involved an investor identified as CTC and a Solaris joint venture. That doesn't establish that SpaceX wrote the check.

So there's our assignment, fellow detectives: investigate SEI, examine the company's filings, and find out what the investment actually means before believing the promotional headline.

 

Interesting? Absolutely.

 

Proof of a terrific investment? Not even close.

 

Before getting excited, I'd want to know the company's name, whether its shares are publicly traded, and what SpaceX actually purchased.

 

An investment in a particular project isn't necessarily an investment in the company itself. And even a genuine business relationship doesn't guarantee that shareholders will make money.

 

The promotion's claim is a starting point for research, not an established fact.

 

Five Questions Worth Asking

Before I get carried away by the next spectacular investment opportunity, I ask:

Who’s the company? Give me a name and a ticker, not a mystery.

Where’s the evidence? Show me official filings, company announcements, or reliable reporting.

How does it make money? Exciting technology doesn’t automatically mean profits.

What’s the risk? Debt, competition, losses, and overpriced shares can spoil a wonderful story.

Who’s selling the excitement? If I must buy a newsletter to learn the secret, somebody’s already making money — and it isn’t necessarily me.

 

Eighty Years and Still Asking Questions

I enjoy investing research. I especially enjoy discovering companies working behind the scenes on new technology.

 

But I’ve lived long enough to know that a good sales pitch and a good investment are two very different things.

 

A little curiosity is healthy.

A little skepticism is even healthier.

And if somebody tells me I must act before midnight?

 

I’ll put the coffee on and investigate in the morning.

 

That’s 80 Proof.

 

— Mare 🌹

 

80 Proof is an educational column, not personalized financial advice. The SpaceX claim discussed here comes from an investment promotion and has not been independently verified.

A Little Age, A Little Wisdom, and a Healthy Dose of Skepticism

 

By Mare Pagel  |  Been There, Done That  |  October 30, 2026

 

You've probably heard of 80-proof whiskey.

 

Well, I've reached 80 proof myself — without the whiskey!

 

Eighty years of living, learning, working, making mistakes, recognizing opportunities, and occasionally wondering how some people manage to sell the same old nonsense in brand-new packaging.

 

And that's where 80 Proof comes in.

 

This is my new Friday column about investing, investigating, and asking questions before believing the next spectacular headline.

 

I enjoy researching stocks, new technologies, and the companies quietly building tomorrow's world. But I've also learned that a good story doesn't automatically make a good investment.

 

A billionaire's name in a headline doesn't guarantee a fortune. A tiny company with a revolutionary idea doesn't necessarily have a profitable business. And an advertisement shouting Act Now! is usually a good reason to slow down.

 

Here at 80 Proof, we'll look beyond the sales pitch. We'll explore interesting companies, investigate investment claims, and share what we discover along the way.

 

No crystal balls. No guaranteed winners. And absolutely no requirement to buy somebody's expensive newsletter.

 

Just curiosity, common sense, a little humor, and eight decades of perspective.

 

I've earned my 80 Proof. Now let's put it to work!

 

— Mare🌹

 

80 Proof is an educational and conversational column, not personalized financial advice.