Washington, D.C. — Congressman August Pfluger (TX-11) released a statement Monday afternoon after President Biden issued his first veto—striking down a bipartisan bill Congress passed to block 401 (k) investment managers from investing in so-called Environmental, Social, and corporate Governance (“ESG”) without their employee's consent.
Rep. August Pfluger (TX-11): “President Biden just vetoed a bipartisan bill—choosing to prop up the radical ESG movement with the savings accounts of millions of Americans. Financing companies that promote a far-left agenda, such as environmental extremism, employee training based on Critical Race Theory, and more without the consent of employees is wrong.
“The consequences will be dire. His veto ensures financial companies will make business decisions based on a social and political agenda instead of the best interests of their shareholders and clients, and will also result in higher energy costs while jeopardizing the savings of millions of Americans.”