Quote from: DKG post_id=495053 time=1677674372 user_id=3390Quote from: Herman post_id=495034 time=1677636618 user_id=3396
House votes to kill Biden's 'woke' ESG investment rule that props up 'phony climate movement'
House voted to kill Department of Labor rule; Senate will take it up nexthttps://www.foxnews.com/politics/house-votes-kill-bidens-woke-esg-investment-rule-props-up-phony-climate-movement"> https://www.foxnews.com/politics/house- ... e-movement">https://www.foxnews.com/politics/house-votes-kill-bidens-woke-esg-investment-rule-props-up-phony-climate-movement
The House voted Tuesday to kill the Biden administration's controversial rule that encourages private retirement plan fiduciaries to consider environment, social and governance (ESG) factors when making investment decisions for tens of millions of Americans.
The Department of Labor rule is widely seen by Republicans as part of the Biden administration's push to inject "woke" ideology into all aspects of government. Under the rule, fiduciaries who make investment decisions for the retirement plans of more than 150 million people would be explicitly permitted under federal guidelines to consider companies' approach to climate change and other social issues, instead of focusing on only profitability and return on investment for retirees.
Republicans say that's a recipe for tanking millions of investment accounts, and on Tuesday, House GOP leaders called up a resolution aimed at killing the rule, which passed 216-204. Only one Democrat voted for it.
Manchin opposes it, so we will see what happens in the senate. If the senate passes it, there will be people not investing in there 401k plans.
The lefty government here I'm Australia are upping taxes on superannuation (forced and unforced 401k type program) for anybody with 3 million or more (just over 2 million USD) in their retirement accounts because the lefties reckon they're not paying enough and dodging taxes.
The grabs are on, now. Anything on the books is fair game, even if it's not fair game or shouldn't be.
It's class persecution.