News Analysis
The Biden administration and Congress are currently caught up in a tug-of-war over a new Labor Department rule regarding whether Americans’ retirement savings should be used to finance a climate and social-justice agenda.
This conflict goes well beyond obscure investment rules and administrative procedures and will likely affect the financial security of many Americans in their retirement years.
The controversy heated up last week with a GOP-controlled Congress passing a measure 216–204 to block the Biden administration’s new rule that permits including climate change and social justice principles as pension investment criteria. Rep. Jared Golden (D-Maine) was the sole Democrat to support the measure. Senate Republicans, with the support of Jon Tester (D-Mont.) and Joe Manchin (D-W.Va.), passed a similar measure 50–46….