Biden is set to use his first veto to save what Republicans call a 'woke' rule that lets retirement fund managers consider companies' social and environmental records
Senate Republicans made strides this week in preventing what they call"woke" retirement plan investing for Americans. on Wednesday to overturn a Department of Labor rule enacted under President Biden that allows retirement plan managers to take environmental, social and corporate governance considerations into account when investing Americans' retirement account dollars.
Many Democrats, like Sen. Elizabeth Warren, believe the opposite."Republicans' hypocritical resolution to nullify @USDOL's ESG rule ties investors' hands & would force their extremist views on investors," sheIt's the latest back-and-forth in an ESG debate triggered by former President Donald Trump, who prohibited financial managers from making such considerations when he was in office.
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GOP pits endangered Democrats against Biden with sensitive votesRepublicans are using their new House majority to jam endangered Democrats into politically sensitive votes, including a debate over so-called 'woke' policies that the GOP is eager to inflame.
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Explainer: Can Republicans topple Biden's ESG investing rule in court?The Republican-led U.S. House of Representatives voted on Tuesday to block a Biden administration rule allowing employee retirement plans to consider environmental, social and corporate governance (ESG) factors when selecting investments. President Joe Biden has promised to veto the bill if it passes the Senate, but Republican-led states and the oil industry are also challenging the rule in federal court in Texas.
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Manchin and Tester side with GOP in ESG vote, set to force first veto from Biden.Sen_JoeManchin and SenatorTester may push Biden’s first use of executive veto power. The Senate is poised to vote in favor of canceling a Labor Department rule, which lets retirement plan managers weigh environmental & social issues in decisions.
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White House confirms Biden will veto GOP-backed anti-ESG billWhite House press secretary Karine Jean-Pierre confirmed Wednesday that President Joe Biden will veto the Republican-backed bill rolling back a Labor Department investing rule if it makes it to his desk.
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Senate poised to overturn federal rule on ESG investments; Biden vows to vetoIf the bill passes the Senate, President Joe Biden has said he plans to issue the first veto of his presidency.
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Republican drive against Biden ESG investment rule gains momentumA Republican drive to prevent pension fund managers from considering factors like climate change in their investment decisions gained momentum on Wednesday, as a second U.S. Senate Democrat said he would support the measure in an afternoon vote.
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