- Sep 19, 2020
- 7,078
- 8,185
- 2,138
As usual, he is putting the special interests of progressives and China ahead of the interests of hard working Americans.
By vetoing H.J.RES.30, he is putting a DOL rule above a law passed by both houses of congress.
Retirees will have considerably lower returns and less comfortable retirement finances for the sake of companies which give lip service to the Climate Agenda.
Here he is mumbling about what he just did.
He can barely speak, and his official video is overlaid with the text, "PRESIDENT BIDEN VETOES EXTREME MAGA LIMITATIONS ON RETIREMENT FUNDS."
Here is the bill he vetoed...
And here is the DOL rule which will continue in force...
It allows funds to put other goals - "environmental justice", social, or governance - ahead of the financial interests of the funds' investors.
The facts are, ESG funds perform very poorly.
Biden could not care less about the well-being of Americans. He's raiding their retirement savings for a vapid progressive agenda.
Take it from Joe Manchin...
“This Administration continues to prioritize their radical policy agenda over the economic, energy and national security needs of our country, and it is absolutely infuriating. West Virginians are under increasing stress as we continue to recover from a once in a generation pandemic, pay the bills amid record inflation, and face the largest land war in Europe since World War II. The Administration’s unrelenting campaign to advance a radical social and environmental agenda is only exacerbating these challenges. This ESG rule will weaken our energy, national and economic security while jeopardizing the hard-earned retirement savings of 150 million West Virginians and Americans. Despite a clear and bipartisan rejection of the rule from Congress, President Biden is choosing to put his Administration’s progressive agenda above the well-being of the American people.”
By vetoing H.J.RES.30, he is putting a DOL rule above a law passed by both houses of congress.
Retirees will have considerably lower returns and less comfortable retirement finances for the sake of companies which give lip service to the Climate Agenda.
Here he is mumbling about what he just did.
He can barely speak, and his official video is overlaid with the text, "PRESIDENT BIDEN VETOES EXTREME MAGA LIMITATIONS ON RETIREMENT FUNDS."
Here is the bill he vetoed...
And here is the DOL rule which will continue in force...
It allows funds to put other goals - "environmental justice", social, or governance - ahead of the financial interests of the funds' investors.
The facts are, ESG funds perform very poorly.
An Inconvenient Truth About ESG Investing
Investing in sustainable funds that prioritize ESG goals is supposed to help improve the environmental and social sustainability of business practices. Unfortunately, close analysis suggests that it’s not only not making much difference to companies’ actual ESG performance, it may actually be...
hbr.org
Biden could not care less about the well-being of Americans. He's raiding their retirement savings for a vapid progressive agenda.
Take it from Joe Manchin...
Manchin Statement on President Biden's Veto of Bipartisan Challenge to ESG Rule Politicizing Americans' 401KS | U.S. Senator Joe Manchin of West Virginia
The Official U.S. Senate website of Senator Joe Manchin of West Virginia
www.manchin.senate.gov
“This Administration continues to prioritize their radical policy agenda over the economic, energy and national security needs of our country, and it is absolutely infuriating. West Virginians are under increasing stress as we continue to recover from a once in a generation pandemic, pay the bills amid record inflation, and face the largest land war in Europe since World War II. The Administration’s unrelenting campaign to advance a radical social and environmental agenda is only exacerbating these challenges. This ESG rule will weaken our energy, national and economic security while jeopardizing the hard-earned retirement savings of 150 million West Virginians and Americans. Despite a clear and bipartisan rejection of the rule from Congress, President Biden is choosing to put his Administration’s progressive agenda above the well-being of the American people.”