Republicans in Congress passed legislation that blocked implementation of a Labor Department rule allowing retirement fund managers for employers to consider environmental, social, and governance (ESG) factors in choosing investments.
President Joe Biden vetoed the bill.
The president made it seem as though Republicans injected, rather than sought to remove, politics from worker retirement funds.
“This bill would risk your retirement savings by making it illegal to consider risk factors MAGA House Republicans don’t like,” the president remarkably claimed. “Your plan manager should be able to protect your hard-earned savings — whether Rep. Marjorie Taylor Greene likes it or not.”
Democrat Sens. Jon Tester and Joe Manchin, not exactly “MAGA” Republicans, voted for the legislation.
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