The Republican-controlled U.S. House votes on Tuesday on a bill to block President Joe Biden's administration from allowing retirement plans to consider environmental, social and corporate governance, or ESG, issues in their investment decisions.
The battle is likely to intensify as the 2024 presidential campaign gets under way. Florida Governor Ron, widely seen as a leading White House contender, has already made his own fight against "woke" businesses a hallmark of his image.
"Retirement plans should be solely focused on delivering maximum returns, not advancing a political agenda," said Republican Representative Andy Barr, who introduced the House resolution. A vote could follow as soon as Wednesday in the Senate, where Democrats have a 51-49 majority. Republicans have support from all 49 of their members and Democratic Senator Joe Manchin. But they could need an additional Democrat or of the three independents who normally vote with the Democrats to pass the measure on a simple majority.
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