The House will take up legislation this week that would scrap President Joe Biden’s environmental, social, and governance (ESG) rule.
The House will vote on a resolution, sponsored by Rep. Andy Barr (R-KY) and Sen. Mike Braun (R-IN), that would nullify the Department of Commerce’s rulemaking allowing fiduciaries to take environmental, social, and governance (ESG) factors into consideration when choosing retirement investments.
The resolution has the support of 49 Senate Republicans and Sen. Joe Manchin (D-WV), meaning the bill only needs one more Senate Democrat to back the bill to have it be sent to Biden’s desk should the House pass the bill.
