Forty-nine Senate Republicans and Sen. Joe Manchin (D-WV) unveiled a resolution that would eliminate President Joe Biden’s ESG investing rule, which may politicize 401(k)s.
Forty-nine Senate Republicans and Sen. Joe Manchin unveiled a resolution that would eliminate President Joe Biden’s ESG investing rule, which may politicize 401s.
“In a time when Americans’ 401s have already taken such a hit due to market downturns and record high inflation, the last thing we should do is encourage fiduciaries to make decisions with a lower rate of return for purely ideological reasons,” Braun explained. “That’s why we are proud to stand up against this rule for the millions of Americans who depend on these funds for their retirement.
“Climate change and other environmental, social and governance factors can be useful for plan investors as they make decisions about how to best grow and protect the retirement savings of America’s workers,” Lisa Gomez, the assistant secretary for employee benefits security,President Joe Biden traveled to Somerset, MA to deliver remarks on tackling the climate crisis and seizing the opportunity of a clean energy future to create jobs and lower costs for families.
The Congressional Review Act allows lawmakers to sponsor a disapproval resolution, which means that the resolution cannot be blocked from being considering on the floor. The resolution only requires a simple majority to pass through the Senate.
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