White House confirms Biden will veto GOP-backed anti-ESG bill

[mystery-ak]

White House confirms Biden will veto GOP-backed anti-ESG bill
by Ryan King, Breaking News Reporter
March 01, 2023 03:22 PM



White 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.

House Republicans advanced a bill Tuesday to undo a Biden administration rule that permits retirement plans to consider environmental, social, and corporate governance in their investment decisions. The veto, which had been widely speculated, could become the first of his presidency.

"It forces MAGA Republicans' ideology down the throats of the private sector and handcuffing investors as well. The bill would bar fiduciaries from considering significant risks like extreme climate threats and poor corporate governance when they make investment decisions," Jean-Pierre told reporters during a White House press briefing.

Centrist Sens. Jon Tester (D-MT) and Joe Manchin (D-WV) signaled they would back the bill, which must first clear the Senate to get to Biden's desk. Supporters of the push to scrap the so-called ESG rule argue the policy is "woke capitalism" that undermines retirement accounts for workers, but Jean-Pierre contended it could hamstring investors.

"It would give investment professionals less flexibility to make prudent decisions, meaning they won't be free to maximize the retirement savings for millions of Americans. That would jeopardize the retirement and life savings for police officers, firefighters, teachers, and tens of millions [of] retirees all across the country," she said.

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https://www.washingtonexaminer.com/news/white-house/white-house-confirms-biden-veto-anti-esg-bill

[LMAO]

From the article…..

"It forces MAGA Republicans' ideology down the throats of the private sector and handcuffing investors as well. The bill would bar fiduciaries from considering significant risks like extreme climate threats and poor corporate governance when they make investment decisions," Jean-Pierre told reporters during a White House press briefing.

These people have no idea what they’re talking about. These ESG’s are risking another big stock market bubble and taking everybody else’s investments with them

[catfish1957]

Down side of this, was that this vote gave Tester and Manchin conservative cred in a desperate attempt to secure re-election

Freakin' turdle is killing us, by throwing these dipshits a bone.

[Smokin Joe]

"It forces MAGA Republicans' ideology down the throats of the private sector and handcuffing investors as well. The bill would bar fiduciaries from considering significant risks like extreme climate threats and poor corporate governance when they make investment decisions,"

No, it opens up investing into things that actually work. Investments that might yield long term growth instead of losses.

If fiduciaries want to consider those risks of "climate threats" the market will reflect the downside of those risks without a systematic approach to depriving resource developers who are essential to National Security of the CAPEX required to develop those resources, no matter what the "green" lobby has been deluded to believe.