64.3 F
Florida
Friday, February 23, 2024
Citizens Journal Florida
HomeNewsworthyFeaturesSenate Votes to Block Biden Admin ESG Investing Rule, Setting up Veto...

Senate Votes to Block Biden Admin ESG Investing Rule, Setting up Veto Showdown

Club 14 Fitness
 

Feature

By Ben Whedon, Just the News

03-02-23

The bill comes as major asset managers such as Vanguard have bucked their ESG pledges citing fiduciary duty to their investors.

The Senate on Wednesday voted to block a Department of Labor rule allowing asset managers to consider environmental, social, and governance (ESG) factors when making investment decisions, setting up a veto showdown with President Joe Biden, who has said he would veto such a motion should it reach his desk.

Democratic Sens. Joe Manchin, W-Va., and John Tester, Mont., joined Republicans in advancing the rule through the upper chamber, The Hill reported. Congressional termination of the rule did not require clearance of a 60-vote filibuster threshold.

The House passed the measure on Tuesday, meaning it will likely reach the president’s desk. It remains unclear whether Biden will follow through on his pledge to veto the legislation.

Read the full article: Senate votes to block Biden admin ESG investing rule, setting up veto showdown | Just The News

Firesail Adventures
RELATED ARTICLES
0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
 
Education Crusade

Most Popular

The Bike Cop

Recent Comments

0
Would love your thoughts, please comment.x
()
x