An obscure movement to push corporate America to the left could play a major role in 2024. POTUS’s first veto was in defense of a rule allowing pension fund managers to make investment decisions based on factors many consider to be “woke.”
President Joe Biden’s first veto was in defense of a rule allowing pension fund managers to make investment decisions based on factors many consider to be “woke.”The top two Republican candidates to unseat Biden, former President Donald Trump and Gov. Ron DeSantis , have taken a hard line against this new trend.
Biden didn’t exactly defend his veto on the basis of ideological goals but rather pragmatic financial ones."I just signed this veto because the legislation passed by the Congress would put at risk the retirement savings of individuals across the country," he said in a video posted on Twitter. “Florida will not bow down to the political virtue signaling of martini millionaires,” House Speaker Paul Renner, a Republican, said in a statement at the time. “Corporations have no right to bypass our democratic process. Companies that engage in ESG hurt their customers and the communities they serve, including Florida’s retirees, by making everything they produce more expensive. ESG undermines our national security and bypasses our democratic process.
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