Ralph Norman: “I will close with the fact that, instead, this powerful duopoly is fueling a movement to weaponize your retirement funds…”

“I will close with the fact that, instead, this powerful duopoly is fueling a movement to weaponize your retirement funds to basically push a political agenda that this Biden administration has been so adamant on. Both firms often recommend in favor of harmful ESG measures and proposals that violate State or local law. They have a long track record of costly factual errors and uncontrolled conflicts of interest. The 2022 Biden administration rule lets proxy advisers continue to push a political agenda and make bad recommendations. Our retirement savings should be geared toward higher returns and not political objectives. Mr. Chair, I urge my colleagues to accept this amendment, and I yield back the balance of my time.”