Biden Vetoes Republican-Backed Anti-ESG Bill, Disses MTG

President Joe Biden used his veto power for the first time in his presidency on Monday, signaling a shift in the White House’s relationship with the new Congress since Republicans gained control of the House in January.

The move sets the stage for more significant clashes with GOP lawmakers on government spending and the national debt limit.

The vetoed GOP measure aimed to prevent the government from taking environmental impacts or potential lawsuits into account when making investment decisions for people’s retirement plans.

In a White House video, Biden explained that he rejected the measure because it endangered the retirement savings of Americans across the country.

“Your plan manager should be able to protect your hard-earned savings — whether Rep. Marjorie Taylor Greene likes it or not,” Biden said in the video.

I just vetoed my first bill.

This bill would risk your retirement savings by making it illegal to consider risk factors MAGA House Republicans don't like.

Your plan manager should be able to protect your hard-earned savings — whether Rep. Marjorie Taylor Greene likes it or not. pic.twitter.com/PxuoJBdEee

— President Biden (@POTUS) March 20, 2023

Biden faces a GOP-controlled House that is eager to undo his policy legacy and investigate his administration and family. Additionally, several Democratic senators up for re-election next year in conservative states may distance themselves from the White House for political reasons.

Tara,
Thank you for bravely speaking out about such a horrible sexual assault you endured by your boss, then Senator Joe Biden, as a young staffer.
It’s time to take a stand against the two-tiered injustice system. @RepMattGaetz and I would like to invite you to come to… https://t.co/bUJWcAFXbE

— Rep. Marjorie Taylor Greene🇺🇸 (@RepMTG) March 20, 2023

The measure would have reinstated a Trump-era ban on federal managers of retirement plans considering ESG factors such as climate change, social impacts, or pending lawsuits when making investment choices.

According to White House spokesperson Robyn Patterson, “The president vetoed the bill because it jeopardizes the hard-earned life savings of cops, firefighters, teachers, and other workers.”

Critics argue that environmental, sociawl, and governance investments allocate money based on political agendas, such as climate change, rather than on earning the best returns for savers.