House Approves Resolution That Would Repeal Biden’s ESG Retirement Rules
The House on Tuesday approved a resolution that would repeal a Biden administration rule for retirement investments, marking the latest flashpoint in Republicans’ crusade against environmental, social and governance (ESG) investing.
The Congressional Review Act (CRA) resolution was approved 216-204, with Rep. Jared Golden (Maine) as the only Democrat voting with Republicans in favor of the measure.
But while a Democratically controlled Senate and White House mean that the measure is unlikely to amount to more than messaging, it is part of a broader Republican effort to oppose ESG investing.
Rep. Michael Burgess (R-Texas) in a floor speech on Tuesday characterized the regulation as being part of a “woke ESG agenda.”
“Democrats and their radical environmental NGO allies will continue to work in the shadows, strong-arming and intimidating corporations and investors alike, using any means necessary, to conscript the life savings of pensioners and retirees to implement a dangerous … investment strategy,” Burgess stated.
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