House Republicans on Tuesday gave an official thumbs down to an Obiden Regime rule that encourages investment managers for retirement plans to make “environmental, social, and governance factors” a consideration in investment decisions.
This from westernjournal.com.
A rule developed by the Department of Labor encourages managers who oversee private retirement plans to consider how companies deal with climate change and other issues in making investments.
According to Fox News:
The rule frees those managers from only focusing solely on investors’ bottom line.
Republican Rep. Andy Barr of Kentucky, who introduced the resolution, said during the debate, according to USA Today:
Congress must act to block the [Obiden Regime’s] recent rule that green lights so-called ESG investing in millions of Americans’ retirement plans.
On Tuesday, the resolution, which is largely symbolic, passed 216-204. Thirteen members did not vote, according to the roll call, which showed only one democrat communist/globalist, Rep. Jared Golden of Maine, voted for the resolution.
The resolution’s next stop is the communist/globalist-controlled Senate, where its future is uncertain.
According to Fox News:
Should the resolution pass, it would go to the White House, where a veto awaits.
Congress would then get the chance to override that veto, but it would take a two-thirds majority, which would require far greater support than the resolution attracted Tuesday.
Republicans indicated the resolution was a line in the sand for them.
Republican Rep. Michael Burgess of Texas said:
[I]t was an important step to battle the woke ESG agenda.
Burgess said, according to The Hill:
Democrats and their radical environmental [non-governmental organization] allies will continue to work in the shadows, strong-arming and intimidating corporations and investors alike, using any means necessary, to conscript the life savings of pensioners and retirees to implement a dangerous … investment strategy
Rep. Virginia Foxx of North Carolina said:
[T]he rule indicates how liberals want to force their agenda on the private sector.
According to Fox News, she said:
The left is using ESG investment criteria as a political tool to cudgel companies into accepting leftist policies.
This is how the left always operates. This is just the first step. If we let this continue, the left will use ESG investing to push non-compliant companies out of the marketplace.
Foxx concluded:
It is unacceptable to encourage fiduciaries to sacrifice the savings of Americans to the orthodoxy of the woke left.
Republican Rep. Glenn Grothman of Wisconsin said:
[T]he rule was an ideological push on corporations.
He explained:
This to further push down on them and say, ‘Here you are, Mr. Big Corporation, we’ll give you a nice pat on the back if we use all of your stockholders’ money to promote a political agenda.’
Republican Rep. Bob Good of Virginia, who called the rule part of the “phony climate movement” said:
[I]f the rule was in the best interests of retirement funds, ESG stocks would get those investment dollars anyway without this new rule.
Florida Gov. Ron DeSantis has rejected the ESG philosophy, USA Today noted, citing a passage in his new book: The Courage to Be Free: Florida’s Blueprint for America’s Revival.
DeSantis wrote:
ESG provides a pretext for CEOs to use shareholder assets to target issues like reducing the use of fossil fuels and restricting Second Amendment rights. It is, in effect, a way for the political left to achieve through corporate power what they cannot achieve at the ballot box.
President Trump touted his own anti-ESG efforts in a recent video.
Click HERE to view President Trump speak about ESG.
Final thoughts: Go Woke, Go Broke. The unpopularity of this liberal insanity has brought about its own death spiral.
Think sine wave: What goes up, must come down. Once this insane radical liberalism (communism/globalism) is finally vanquished, we can expect a period of Conservatism the world has not seen since the era of Genghis Khan.
God speed to Conservatism and to the Take Back of our Constitutional Republic.
