On the recordMarch 1, 2023
Madam President, I come here today--we are going to vote later this afternoon--on something else that involves overreach of the Federal Government, and I have witnessed it a lot. I have been here just a little over 4 years. I jump in--I come from Main Street America--when it just doesn't make sense. The last time I was engaged in this was at the tail end of the COVID saga, when a rule from the Biden administration was going to force the vaccination on all Americans working, if you work for a company down to 100 employees. That is a lot of people. We weighed in on that. It was bipartisan. The Supreme Court jumped in a week and a half or two later and, thank goodness, said enough is enough there. Here, we are talking about something you hear the acronym, ESG-- environment, social, and governance. In a nutshell, that just means now, when we are looking at hard-earned money that you save, your retirement--let me tell you how much it is going to impact: $11.7 trillion, 152 million Americans. I really am OK with what you want to invest in, as long as it is going to push the best rate of return. Over the long run, if something changes, that is different. But, currently, this rule now allows the criterion of using those ESG goals, which would be simplified, being able to push a certain ideology, a certain point of view, into how retirement earnings are invested. You have got to remember, this is a fiduciary thing.…
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