Amid Veto Threat, Senate Passes Measure To Scrap ESG Investment Rule

March 1, 2023
Senate Republicans, joined by two Democrats, advanced a Congressional Review Act (CRA) resolution to rescind a Department of Labor (DOL) rule allowing retirement plan managers to consider climate-related factors in investment decisions, a move that will force President Joe Biden to follow through on his threat to veto the measure. The Senate voted 50-46 to adopt the resolution March 1, with Democratic Sens. Joe Manchin (WV) and Jon Tester (MT) -- both of whom face tough re-election races in 2024...

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