Senate Votes to Block Biden’s ESG Investment Rule; President Set to Veto Measure

Senate Votes to Block Biden’s ESG Investment Rule; President Set to Veto Measure
The U.S. Capitol in Washington on March 1, 2023. Stefani Reynolds/ AFP via Getty Images
Samantha Flom
Emel Akan
Updated:
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The U.S. Senate has voted to block a Department of Labor rule that allows retirement fund managers to consider environmental, social, and governance (ESG) factors when determining where to make investments, setting up what would be President Joe Biden’s first veto.

The March 1 vote fell largely along party lines, with most Democrats voting against the joint resolution that opposes the Biden administration policy and Republicans voting for it. However, Sens. Jon Tester (D-Mont.) and Joe Manchin (D-W.Va.) crossed party lines to sway the vote in Republicans’ favor, approving the resolution on a 50–46 vote.
Samantha Flom is a reporter for The Epoch Times covering U.S. politics and news. A graduate of Syracuse University, she has a background in journalism and nonprofit communications. Contact her at [email protected].
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