Gov. Spencer Cox called President Biden's recent veto of a bill targeting environmental, social and governance (ESG) factors in investments 'deeply disappointing.'
SALT LAKE CITY — Utah Gov. Spencer Cox on Tuesday called President Joe Biden's recent veto of a bill targeting environmental, social and governance factors in investments "deeply disappointing," and a "backdoor" way for the White House to bypass Congress.
The veto was blasted by Republicans and the three Democrats who supported the bill, including West Virginia Sen. Joe Manchin, who said the rule "will weaken our energy, national and economic security, while jeopardizing the hard-earned retirement savings of 150 million West Virginians and Americans."
It's mostly Republican critics who warn that it could lower investment returns and impact retirement savings, labeling it "woke capitalism." Utah Sen. Mitt Romney on Monday said "Democrats can't get their radical policies through Congress, so they hope asset managers will do the work for them."
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