Staff Reports
Joe Biden has made his first veto since he came to power more than two years ago, showing his true liberal colors by killing a bipartisan resolution. The resolution would have reversed the Department of Labor’s final rule of pushing woke Environmental, Social, and Governance (ESG) priorities over profitability for Americans’ retirement accounts.
'Absolutely Infuriating': Biden Slammed for Using First Veto to Kill Bipartisan Resolution https://t.co/57mkHcfrSK
— Rich Valdés 🇺🇸 (@RichValdes) March 21, 2023
Despite Democrat lawmakers agreeing and voting to reverse the rule, Biden himself chose to veto it, claiming that the rule permits retirement plan fiduciaries to make well-informed investment decisions that guarantee maximum financial returns for retirees.
I just vetoed my first bill.
This bill would risk your retirement savings by making it illegal to consider risk factors MAGA House Republicans don't like.
Your plan manager should be able to protect your hard-earned savings — whether Rep. Marjorie Taylor Greene likes it or not. pic.twitter.com/PxuoJBdEee
— President Biden (@POTUS) March 20, 2023
Telling that Biden isn’t using his veto to make a case for ESG – he’s just trying to defend his move by labeling the opposition as MAGA and MTG.
He’s likely seeing the same polling R’s are: when people find out what ESG is, they don’t want their retirement $ anywhere near it.
— Matt Whitlock (@mattdizwhitlock) March 20, 2023
In his first veto, Biden just sided with woke Wall Street over workers. Tells you exactly where his priorities lie.
Now—despite a bipartisan vote to block his ESG agenda—it’s clear Biden wants Wall Street to use your retirement savings to fund his far-left political causes.
— Kevin McCarthy (@SpeakerMcCarthy) March 20, 2023
The fact that Biden’s first veto is about promoting ESG reveals the problem: this isn’t the invisible hand of the “free market.” It’s the invisible fist of government. Don’t fall for their trick. https://t.co/qUeWxwgpxH
— Vivek Ramaswamy (@VivekGRamaswamy) March 20, 2023
Joe Biden’s first veto as president: letting retirement fund managers prioritize ESG scams over the best-performing investments.
Why is he playing games with working people’s retirement money? https://t.co/KaAex5TMDy
— Tom Cotton (@SenTomCotton) March 20, 2023
President Biden just vetoed bipartisan legislation to protect your hard-earned savings from his administration's rule on ESG, an unprofitable scam that prioritizes a radical social and environmental agenda over commonsense investments. https://t.co/jNSN0IfwEI
— Rep. Burgess Owens (@RepBurgessOwens) March 20, 2023
Biden’s first veto is to allow retirement plans to consider woke ESG priorities when making investment decisions.
— Sen. Marsha Blackburn (@MarshaBlackburn) March 20, 2023
MORE – Manchin (D-WV): "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." pic.twitter.com/0pMM3YJ6bd
— Disclose.tv (@disclosetv) March 20, 2023
President Biden conveniently overlooked the fact that Democrat lawmakers voted to comprehensively overrule the Labor Department’s rule in his bid to justify the veto effectively. Instead, he directed his attack towards “MAGA House Republicans” and Representative Marjorie Taylor Greene (R-GA), claiming that they were the sole players behind the resolution. However, the representative was one of the bipartisan House members who voted and passed the resolution, and the Senate controlled by his party also supported it.
Biden’s statements were highly misleading, as his reason for vetoing the resolution was a blatant disregard for climate change risk factors and poor corporate governance that could impact investment returns. The resolution would have allowed retirement plan fiduciaries to consider every factor that maximizes financial returns for retirees, but the President argued that the resolution was controversial, lacking the facts to back up his statement.
Republicans highly criticized President Biden for promoting ESG values in Americans’ retirement accounts, calling it a “middle finger to middle-class Americans.” The GOP’s disapproval continued after the President’s veto, precisely because he is prioritizing his radical policy agenda over the economic, energy, and national security needs of the country. Even Democrat Senator Joe Manchin criticized the White House, referring to the Biden administration’s campaign to push its radical social and environmental agenda as “infuriating.” He further noted that this is only making the challenges facing the country worse.
Clearly, Biden is not committed to prioritizing the best interests of the American people, and his veto is a significant step towards promoting his radical agenda, which is detrimental to the economy, energy, and national security. It is only a matter of time before the Americans see the adverse effects of his decisions.
