Global investors warn Texas to withdraw transgender restroom legislation | Reuters

By Jon Herskovitz | AUSTIN, Texas AUSTIN, Texas A group of global investors with $11 trillion in managed assets told Texas on Tuesday not to enact legislation restricting access to bathrooms for transgender people, saying it is discriminatory and bad for business.The "Texas Privacy Act," or Senate Bill 6, has been marked as a priority for Lieutenant Governor Dan Patrick, a Republican and conservative Christian who guides the legislative agenda in the Republican-controlled state Senate. He said the measure protected the privacy and safety of Texans.The bill on a flashpoint issue in the United States is similar to a law enacted last year in North Carolina that led to economic boycotts and the loss of major sporting events, costing the state an estimated hundreds of millions of dollars in revenue."The bathroom bill was bad for North Carolina and it will be very bad for Texas," New York City Comptroller Scott Stringer, a Democrat, told a teleconference, adding it was the first time investors of this size opposed the legislation.Lawmakers in Texas and 13 other states have introduced so-called "bathroom bills," which supporters say help protect privacy and safety but opponents argue target an already marginalized group in U.S. society

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