{"id":1831321,"date":"2023-02-01T09:20:06","date_gmt":"2023-02-01T14:20:06","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1831321"},"modified":"2023-02-01T09:24:40","modified_gmt":"2023-02-01T14:24:40","slug":"manchin-joins-senate-republicans-in-challenging-bidens-woke-investments-rules","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/manchin-joins-senate-republicans-in-challenging-bidens-woke-investments-rules\/","title":{"rendered":"Manchin Joins Senate Republicans in Challenging Biden&#8217;s Woke Investments Rules"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fmanchin-joins-senate-republicans-in-challenging-bidens-woke-investments-rules%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1831321&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<p class=\"speakable\"><strong>EXCLUSIVE:<\/strong> All Republican senators and Democrat Joe Manchin will introduce legislation they hope will end the Biden government&#8217;s new approach. <a href=\"https:\/\/www.foxbusiness.com\/politics\/republican-states-take-drastic-measure-latest-salvo-esg-movement\" target=\"_blank\" rel=\"noopener\"><u>Environment, governance and social (ESG).<\/u><\/a><u> <\/u>They say rule &#8220;politicizes&#8221; The retirement savings of 152 million Americans.\u00a0<\/p>\n<p class=\"speakable\">In November, the Biden administration&#8217;s Department of Labor announced a rule that will go into effect Jan. 30 and allow retirement plan managers to factor in. <a href=\"https:\/\/www.foxbusiness.com\/politics\/louisiana-divests-blackrock-esg-policies-destroy-louisiana-economy\" target=\"_blank\" rel=\"noopener\"><u>Environmental and social issues<\/u><\/a> Make investment decisions.<\/p>\n<p>Rep. Andy Barr, R.Ky. will introduce Wednesday&#8217;s bipartisan approval resolution. Rep. Mike Braun (R-Ind.) will also present a companion bill in Congress. Congressional passage will allow Congress override the administration to kill the regulation.<\/p>\n<p>&#8220;President Biden is jeopardizing retirement savings for millions of Americans for a political agenda,&#8221; Braun told Fox News Digital.<\/p>\n<p><a href=\"https:\/\/www.foxbusiness.com\/politics\/25-states-hit-biden-admin-lawsuit-climate-action-targeting-americans-retirement-savings\" target=\"_blank\" rel=\"noopener\"><strong>25 STATES HIT BIDEN ADMIN OVER CLIMATE ACTION TARGETING AMERICANS\u2019 RETIREMENT SMASHINGS<\/strong><\/a><\/p>\n<div class=\"image-ct inline\">\n<div class=\"m\"><source media=\"(max-width: 767px)\" \/><source media=\"(min-width: 767px) and (max-width: 1023px)\" \/><source media=\"(min-width: 1024px) and (max-width: 1279px)\" \/><source media=\"(min-width: 1280px)\" \/><img decoding=\"async\" src=\"https:\/\/a57.foxnews.com\/static.foxnews.com\/foxnews.com\/content\/uploads\/2021\/05\/640\/320\/mike-braun-thumb.jpg?ve=1&#038;tl=1\" alt=\"Sen. Mike Braun, R-Ind., is leading a bipartisan disapproval resolution. (Sarah Silbiger\/Pool via AP)\"   style=\"display:none\"><\/div>\n<div class=\"caption\">\n<p>\n Sen. Mike Braun (Republican from Indiana) is leading a bipartisan resolution of disapproval. (Sarah Silbiger\/Pool via AP)\n      <\/p>\n<\/div>\n<\/div>\n<p>&#8220;In a time when Americans\u2019 401(k)s 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. That\u2019s why we are proud to stand up against this rule for the millions of Americans who depend on these funds for their retirement,&#8221; The senator from Indiana continued.<\/p>\n<p>Last week, 25 states filed a federal suit against the Biden administration for the rule. Utah Attorney General Sean Reyes claims that the rule would affect millions of Americans&#8217; retirement safety net plans. &#8220;at risk.&#8221;<\/p>\n<p><a href=\"https:\/\/www.foxbusiness.com\/politics\/republican-states-planning-assault-woke-banks-wont-do-business\" target=\"_blank\" rel=\"noopener\"><strong><u>REPUBLICAN STATES ARE PLANNING AN ALL-OUT ASSAULT ON WOKE BANKS: &#8216;WE WON\u2019T DO BUSINESS WITH YOU&#8217;<\/u><\/strong><\/a><\/p>\n<p>&#8220;The Biden administration promotes its.&#8221; <a href=\"https:\/\/www.foxnews.com\/politics\/biden-warned-heavy-handed-esg-policies-companies-families\" target=\"_blank\" rel=\"noopener\">Climate Change Agenda<\/a> by putting everyday people\u2019s retirement money at risk,&#8221; Reyes told Fox News Digital. &#8220;Americans are already suffering from the current economic downturn.&#8221;<\/p>\n<div class=\"image-ct inline\">\n<div class=\"m\"><source media=\"(max-width: 767px)\" \/><source media=\"(min-width: 767px) and (max-width: 1023px)\" \/><source media=\"(min-width: 1024px) and (max-width: 1279px)\" \/><source media=\"(min-width: 1280px)\" \/><img decoding=\"async\" src=\"https:\/\/a57.foxnews.com\/static.foxnews.com\/foxnews.com\/content\/uploads\/2020\/04\/640\/320\/Andybarr.jpg?ve=1&#038;tl=1\" alt=\"Rep. Andy Barr, R-Ky., is introducing companion legislation in the House.\" \/><\/div>\n<div class=\"caption\">\n<p>\n Rep. Andy Barr (R-Ky.) is proposing companion legislation to the House.<br \/>\n      <span class=\"copyright\">(Courtesy the author)<\/span><\/p>\n<\/div>\n<\/div>\n<p>The states claim that the DOL violated Employee Retirement Income Safety Act (ERISA), 1974. This law establishes standards for retirement income. <a href=\"https:\/\/www.foxbusiness.com\/category\/jobs\" target=\"_blank\" rel=\"noopener\"><u>There are 152 million U.S. workers<\/u><\/a>The equivalent of more than two thirds of the nation\u2019s adult population and roughly $12 trillion in assets.<\/p>\n<p>Braun&#8217;s aide stated that the resolution would be up for a vote in the Senate and House within the next few weeks.<\/p>\n<p>The Congressional Review Act allows joint resolutions to disapproval to be considered on floor. To pass the resolution and send it to Biden, it will require a simple majority vote threshold. Supporters of the resolution expect at most one more Democrat support it and to pass it in Senate.<\/p>\n<p>&#8220;Retirement plans should be solely focused on delivering maximum returns, not advancing a political agenda,&#8221; Barr added.<\/p>\n<p>&#8220;If Congress doesn\u2019t block the Department of Labor\u2019s rule greenlighting ESG investing in retirement plans, retirees will suffer diminished returns on the investment of their hard earned money. It\u2019s time for Congress to act and I applaud Senator Braun and our colleagues for renewing this fight.&#8221;<\/p>\n<div class=\"image-ct inline\">\n<div class=\"m\"><source media=\"(max-width: 767px)\" \/><source media=\"(min-width: 767px) and (max-width: 1023px)\" \/><source media=\"(min-width: 1024px) and (max-width: 1279px)\" \/><source media=\"(min-width: 1280px)\" \/><img decoding=\"async\" src=\"https:\/\/a57.foxnews.com\/static.foxnews.com\/foxnews.com\/content\/uploads\/2023\/01\/640\/320\/GettyImages-1246492285-e1674588875636.jpg?ve=1&#038;tl=1\" alt=\"The resolution will only require a simple majority vote threshold to pass and be sent to Biden.\" \/><\/div>\n<div class=\"caption\">\n<p>\n To pass the resolution, it will only need a simple majority vote threshold and will be sent to Biden.<br \/>\n      <span class=\"copyright\">(Demetrius Freeman\/The Washington Post via Getty Images<\/span><\/p>\n<\/div>\n<\/div>\n<p>According to the aide, the bipartisan legislation has been supported by over 100 groups.<\/p>\n<p><a href=\"https:\/\/www.foxnews.com\/apps-products?pid=AppArticleLink\" target=\"_blank\" rel=\"noopener\"><strong><u>CLICK HERE TO GET FOX NEWS APP<\/u><\/strong><\/a>\u00a0<\/p>\n<p>Support groups include: American Accountability Foundation (American Accountability Foundation), American First Policy Institute, American Accountability Foundation (Americans for Prosperity), American Accountability Foundation (American Accountability Foundation), Americans for Prosperity), Concerned Women for America and Fair Energy Foundation. Heritage Action, Independent Women&#8217;s Voice are some others.<\/p>\n<div class=\"article-meta\">\n<div class=\"author-bio\">\n<p>Kelly Laco works as a political editor at Fox News Digital.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>EXCLUSIVE: All Republican senators and Democrat Joe Manchin will introduce legislation they hope will end the Biden government&#8217;s new approach. Environment, governance and social (ESG). They say rule &#8220;politicizes&#8221; The retirement savings of 152 million Americans.\u00a0 In November, the Biden administration&#8217;s Department of Labor announced a rule that will go into effect Jan. 30 and &hellip;<\/p>\n","protected":false},"author":1,"featured_media":1831324,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[3706,8247,12390,4454,4426,3756,3807,3740,5558],"class_list":["post-1831321","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report","tag-bidens","tag-challenging","tag-investments","tag-joins","tag-manchin","tag-republicans","tag-rules","tag-senate","tag-woke"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1831321","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1831321"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1831321\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1831324"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1831321"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1831321"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1831321"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}