On Monday President Biden issued his first veto after Congress voted to nullify a Labor Department rule allowing fund managers of retirement plans to consider the long-term effects of environmental, social, and governance (ESG) factors on investments. The resolution to nullify the ESG rule was introduced in February by Sen. Joe Manchin (D-WV) who was joined by 50 senators from both parties. Manchin said, “This Administration continues to prioritize their radical policy agenda over the economic, energy and national security needs of our country, and it is absolutely infuriating.” House Speaker Kevin McCarthy tweeted, “In his first veto, Biden just sided with woke Wall Street over workers. Tells you exactly where his priorities lie.”
