The resolution would have nixed a Labor Department rule over how retirement plan managers pick investments.
— President Biden issued the first veto of his presidency on Monday, rejecting a bill that would have nixed a Department of Labor rule that gives room for retirement plan managers to consider environmental, social and governance factors in their investment decisions.
Republicans have heavily criticized the rule and say ESG investing practices that take into account issues like climate change unfairly penalize industries like the oil and gas sectors. The resolution was introduced in the GOP-led House by Republican Rep. Andy Barr and passed in late February, with one Democrat joining Republicans in supporting it. The Senate soon voted 50 to 46 to overturn the rule, with Democratic Sens. Joe Manchin and Jon Tester joining Republicans in support. whether he will sign a measure that would declassify information related to the origins of the COVID-19 pandemic. The House and Senate both passed that measure unanimously.
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Biden issues first veto, defending Labor Dept. 'ESG' ruleWASHINGTON (AP) — President Joe Biden on Monday issued the first veto of his presidency as he sought to block Republican-led efforts in Congress to overturn a Labor Department rule allowing retirement plans to consider environmental, social and governance factors when making investment decisions.
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Biden issues first veto, rejecting Republican-led bill on Labor Department rulePresident Biden uses the first veto of his presidency to uphold a new rule that allows retirement plans to consider risk factors like climate change and poor corporate governance.
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Biden issues first veto, defending Labor Dept. investment ruleThe Labor Department rule ended a Trump-era ban on managers of retirement plans considering factors such as climate change or pending lawsuits when making investment choices.
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Biden issues first veto, defending Labor Dept. investment ruleThe Labor Department rule ended a Trump-era ban on managers of retirement plans considering factors such as climate change or pending lawsuits when making investment choices.
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Biden Uses First Veto to Protect Labor Department ESG InvestingPresident Biden used the first veto of his administration on Monday, blocking a bill that would stop the Labor Department from considering ESG factors in its investing. See potential bias and similarities in coverage from Reuters, axios, and FoxNews:
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Uber, Lyft group challenges Biden’s labor secretary nominee over worker rulesUber, Lyft trade group Flex Association requested nominated DOL Secretary Julie Su to explain her stance on worker-classification rules.
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