Title: Biden's ESG rule will 'hurt America's retirement security,' GOP lawmaker warns
Article Snip: "For decades, those standards have said investment decisions must be guided by the goal of maximizing the return on those investments. However, the rule from Biden’s Labor Department said investment plan fiduciaries can consider companies that prioritize climate change and other social issues as they invest. ...this bill disapproving this Department of Labor regulation that would steer Americans into lower-performance, higher-fee, less-diversified portfolios… because whether you're a Republican or a Democrat, we think most Americans don't want politics to be a factor in allocating their capital and determining whether or not they're going to have a secure retirement," the Kentucky congressman said. Barr further argued that Biden’s threat to veto the bill when it gets to the president’s desk will "hurt America’s retirement security.""
Reference: www.foxbusiness.com
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