President Biden Vetoes H.J. Res. 30 in Support of ESG Investing in Retirement Plans

On Monday, March 20, President Joe Biden used his first veto to strike down House Joint Resolution 30 that would have disapproved the Department of Labor’s final rule allowing fund managers to consider Environmental, Social and Governance (ESG) considerations in their investment decisions in 401(k) and retirement plans. Although the resolution passed both congressional chambers, it does not appear that a two-thirds voting threshold exists to override the veto.

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