Political Quotes

“Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, it is important, I think, that we again set the record straight. The RETIRE Act codifies the principles in the Trump Labor Department rule on retirement plan ESG investing. Under this bill, as with the Trump rule, if a fiduciary finds that an ESG factor is a pecuniary or financial factor, then that factor can be considered when investing and exercising shareholder rights. Nothing in the Trump rule prevents a fiduciary from appropriately considering any material risk with respect to investment. Like the Trump rule, the RETIRE Act recognizes ESG factors can present an economic risk or opportunity, which qualified investment professionals would appropriately treat as material economic considerations under generally accepted investment principles. This bill neutrally applies financial investment principles to all investment decisions. To suggest that this bill bars a fiduciary from appropriately considering any factors that may be material to an investment is blatantly false. Unlike the Biden-Harris rule, this legislation is neutral regarding fiduciaries' prudent decisions. Mr. Speaker, I reserve the balance of my time.”