- This could be a sign of things to come in the now Republican-majority Congress.
- The bill aimed to ban the government from considering environmental impacts or lawsuits when making investment decisions in retirement plans.
Critics of environmental, social and governance (ESG) investments believe that money is allocated based on leftist causes rather than returns for retirees.
- Many also fear the bill would open up increase government control over where people can invest their money.
- “It is clear that President Biden wants Wall Street to use your hard-earned money not to grow you savings, but to fund a far-left political agenda,” said GOP Speaker Kevin McCarthy.