Political Quotes

“I thank the gentlewoman for yielding, and I yield myself such time as I may consume. Madam Speaker, I rise in opposition to the House Republican majority's effort to override President Biden's veto of H.J. Res. 30. This resolution sought to nullify a popular and sensible rule that enabled retirement plan managers to make fully informed investment decisions. I commend the President for his veto. Workers should be able to invest their retirement savings in a way that reflects their values, such as combating climate change, without sacrificing investment returns. That is why the Biden-Harris administration issued a rule to clarify that retirement plan managers may consider the economic effects of climate change and other environmental, social, and governance factors, or ESG factors, when they make investment decisions for participants in retirement plans. Simply put, this rule is not an ESG mandate. It just allows participants to make those decisions. Additionally, the rule does not change the fiduciary standard to which the professionals who make the investment decisions for retirement plans are bound. They must still prioritize the interests of retirement plan participants and cannot sacrifice investment returns to pursue ESG goals. Today's debate is not a referendum on the administration's rule or even ESG in general. We had that debate last month. {time} 1730 The debate is about two things. First, it is about arithmetic.…”