If the bill passes the Senate, President Joe Biden has said he plans to issue the first veto of his presidency.
The Senate is expected to pass a bill to overturn a Labor Department rule that allows fiduciary retirement fund managers to consider environmental, social, and corporate governance factors.
Republicans say the ESG investing rule is part of a broader trend of "woke capitalism," which includes a range of stances taken by corporations that they accuse of being beholden to Democrats. The vote will pit Republicans and at least two Democrats against the rest of the Democratic caucus. President Joe BidenThe same bill passed the Republican majority House on Tuesday with the support of every Republican and one Democrat, after which it advanced surprisingly quickly to the Senate for Wednesday's vote.take aim at "woke" capitalism
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House to Vote on Resolution to Scrap Biden ESG RuleThe House will take up legislation this week that would scrap President Joe Biden's environmental, social, and governance (ESG) rule.
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Biden could issue his first veto as Congress prepares to vote against ESG investment ruleLawmakers have said the Department of Labor rule 'politicizes' the retirement savings for millions of Americans and are voting to disapprove the rule and kill it.
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McConnell lampoons Biden’s ‘radical’ 401(k) rule as GOP seeks to scuttle new ESG provisionSenate Minority Leader Mitch McConnell on Tuesday ripped into a new rule from the Biden administration that lets 401(k) fund managers consider climate change and social justice politics when investing clients' retirement savings.
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Biden's ESG rule will 'hurt America's retirement security,' GOP lawmaker warnsAfter introducing a bill to kill Biden's ESG rule for retirement plans, Rep. Andy Barr is expecting bipartisan support to steer Americans' savings away from politics.
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House votes to cancel ESG rule in what could be first veto of Biden’s presidencyBREAKING: The House has voted to cancel a Labor Department rule that allows retirement plan managers to weigh environmental and social issues when making investments. The House voted 216-204, largely along party lines, to roll back the rule.
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House votes to kill Biden’s ‘woke’ ESG investment rule that props up ‘phony climate movement’The House voted Tuesday to kill a Biden administration rule encouraging retirement plan fiduciaries to invest in ESG companies, which the GOP says is a disaster for retirees.
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