Biden Takes on Republican House with First Veto, Defending Labor Dept ESG Rule

Biden Takes on Republican House with First Veto, Defending Labor Dept ESG Rule - Google RSS Image

The vetoed measure, known as the "ESG Rule," was passed by the House of Representatives in February and would have prevented the Department of Labor from considering environmental, social, and governance (ESG) factors when making investment decisions for retirement plans. The measure was supported by Republicans who argued that the ESG Rule was an example of government overreach and would put retirement savings at risk.

However, President Biden argued that the measure would have put retirement savings at risk by preventing the government from considering environmental impacts or potential lawsuits when making investment decisions. He also argued that the measure would have prevented the government from considering the long-term risks of climate change, which could have a significant impact on retirement savings.

The veto is seen as a sign of a more confrontational approach from the White House, as Biden faces a GOP-controlled House that is eager to undo parts of his policy legacy and investigate his administration and his family. The veto is likely to prevail, as only three Democrats in Congress supported the measure.

The veto is also seen as a sign of Biden's commitment to protecting the environment and fighting climate change. In addition to the veto, Biden also signed a bill directing the federal government to declassify intelligence related to the origins of COVID-19. This is seen as another sign of Biden's commitment to fighting climate change, as the intelligence could help inform future policy decisions.

The veto is the latest sign of the shifting relationship between the White House and the new Republican-controlled Congress, and Biden is preparing for bigger fights with Republicans in the coming months. With the veto, Biden has sent a clear message that he is willing to stand up to the GOP and defend his policy legacy.

Sources:

ABC News. "Biden Issues Veto Defending Labor Dept. ESG Rule." ABC News, ABC News Network, 15 Mar. 2021, abcnews.go.com/Politics/wireStory/biden-issues-veto-defending-labor-dept-esg-rule-97992820.

The Hill. "Biden Vetoes GOP Measure Blocking Labor Dept. ESG Rule." The Hill, The Hill, 15 Mar. 2021, thehill.com/policy/finance/539093-biden-vetoes-gop-measure-blocking-labor-dept-esg-rule.

Original Source

Related Stories