Sen. Joe Manchin (D-WV) rebuked President Joe Biden for his veto of a resolution that would have prevented fiduciaries from investing retirement funds in accordance with the environmental, social, and corporate governance movement, also known as ESG.
The Labor Department recently issued a final rule that reversed a prohibition of retirement investments made with ESG criteria established under the Trump administration. Members of the House and Senate approved a resolution earlier this month nixing the final rule, and Biden issued the first veto of his tenure on Monday to block the resolution.
Manchin, widely regarded as a centrist and a prominent critic of some Biden administration policy priorities, issued a statement condemning the “absolutely infuriating” veto.
“West Virginians are under increasing stress as we continue to recover from a once in a generation pandemic, pay the bills amid record inflation, and face the largest land war in Europe since World War II,” he said….
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