Political Quotes

“Madam Speaker, I rise in support of overriding President Biden's veto of H.J. Res. 30, a Congressional Review Act resolution nullifying the Biden administration's attempt to politicize the retirement savings of Americans. This is deja vu for the American people. With this veto, the President once again insists on undermining the financial security of the very people who elected him. Republicans will stand with American workers and retirees in protecting their savings. ESG investing puts the future of millions of Americans in jeopardy when they are already facing economic hardships and inflation brought on by this administration's reckless spending. The President says H.J. Res. 30 would make it, ``. . . illegal to consider risk factors . . .'' but that statement is blatantly false and misleading. The Trump rule, which H.J. Res. 30 would reinstate explicitly states, ``Nothing in the final rule is intended to or does prevent a fiduciary from appropriately considering any material risk with respect to an investment.'' Last year, the Department of Labor, DOL, published a rule encouraging retirement plan fiduciaries to consider ESG factors when making investment decisions. Biden protected this rule with his veto. Now, thanks to Democrats, workers can be placed into ESG investment vehicles by default. If a fiduciary finds that two investments are equal, the fiduciary is allowed to use collateral ESG factors to break the tie without justifying or documenting that decision.…”