(NewsHill.org)- According to a report, President Biden wished to utilize retirement account managers to support his climate change fantasies and discriminatory equity measures, but Congress voted unanimously against this idea.
Two Democrats, West Virginia’s Joe Manchin and Montana’s Jon Tester voted with their party to pass the repeal measure, which passed the Senate with a 50-46 final tally. Both will be seeking re-election in states with a conservative majority in the next year.
After receiving the backing of all Republicans and only one Democrat in the House, this measure moved unexpectedly fast through the Senate.
According to a report, Republicans claimed that their resolution would stop fund managers from using ESG issues as the primary basis for investing choices. They did, however, concede that this would not prevent funds from ever examining ESG problems.
Republican Senator Mike Braun said the bill’s fundamental criteria would be the monetary return on investment.
To oppose the Labor Department regulation, Republicans employed the Congressional Review Act, which permits them to avoid the usual 60-vote Senate barrier.
Reports show that after hearing that the National Association of Attorneys General (NAAG) invests in firms that push left-wing environmental, social, and governance (ESG) objectives, Utah Attorney General Sean Reyes (R) launched a lawsuit against the NAAG to demand an accounting of its government funding.
Riley Moore, State Treasurer of West Virginia, has been a national leader in the fight against ESG regulations, comparing the drive for such funds by America’s management elite to a kind of socialism.
When media reports exposed the NAAG’s environmental, social, and governance investments ( ESG), Republican leadership in Arizona’s legislature sent a letter that urged NAAG executive director Brian Kane to consider it a legal hold notice.
The letter from Warren Petersen (R), Senate President, and Ben Toma (R), House Speaker, described NAAG’s misuse of public monies in violation of Arizona law.
The letter states that evidently, NAAG has been breaking the rules, which has led to the waste of millions of dollars in ESG investments, foreign equities, and European vacations while millions more are still sitting in the clutches of an unelected bureaucrat in D.C.