The Republican-controlled U.S. House is expected to vote on Tuesday on a bill to block President Joe Biden's administration from allowing retirement plans to consider environmental, social and corporate governance, or ESG, issues in their investment decisions.
The battle is only likely to intensify as the 2024 presidential campaign gets under way. Florida Governor Ron, widely seen as a leading White House contender, has already made his own fight against "woke" businesses a hallmark of his image.
"Retirement plans should be solely focused on delivering maximum returns, not advancing a political agenda," said Republican Representative Andy Barr, who introduced the House resolution. "If Congress doesn't block the Department of Labor's rule greenlighting ESG investing in retirement plans, retirees will suffer diminished returns on the investment of their hard-earned money.
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