President Joe Biden issued his first veto on March 20, rejecting a bipartisan measure that would have blocked a Labor Department rule that allows pension fund managers to consider social factors and climate change in investment decisions—a rule that Republicans say is a “woke” policy that will harm retirees’ pocketbooks.
The president posted a video to Twitter defending his veto, saying it “made sense” because Congress’s resolution would “put at risk the retirement savings of individuals across the country.”
“There is extensive evidence showing that environmental, social, and governance factors can have a material impact on markets, industries, and businesses,” he said in a White House statement….