President Biden rejected a Republican-backed bill earlier this week that would have prohibited retirement fund managers from incorporating so-called woke factors into investment decisions.
House Republicans on Thursday fell well short of the votes needed to override President Joe Biden’s rejection of a bill prohibiting retirement fund managers from basing investment decisions on so-called woke factors like thePresident Joe Biden speaks during the awards ceremony for the National Humanities Medals and theCQ-Roll Call, Inc via Getty ImagesThe 219-200 override vote won majority support from the Republican-controlled chamber, but fell well short of the two-thirds threshold required...
Biden carried out the veto Monday, claiming the bill “put at risk the retirement savings of individuals across the country.” Republicans argue letting retirement fund managers take environmental, social and governance factors into consideration politicizes investments by funneling money toward liberal causes.“It is clear that President Biden wants Wall Street to use your hard-earned money not to grow your savings, but to fund a far-left political agenda,” House Speaker Kevin McCarthy said in a statement this week.
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