Democrats and Republican lawmakers are sounding the alarm that the Biden administration's ESG priorities may be detrimental to the financial well-being of Americans.
On Wednesday, Sen. Joe Manchin, D-W.Va., joined every single GOP senator in introducing a disapproval resolution to stop this rule.
A recent study conducted by UCLA and NYU discovered that over the period of the last five years, ESG funds underperformed compared to the broader market at an average of 6.3% to 8.9%. Sen. Joe Manchin, D-W.Va., joined every single GOP senator in introducing a disapproval resolution to stop this rule by the Biden administration.A group of 25 states last week filed a federal lawsuit against the Department of Labor over the rule, which Utah Attorney General Sean Reyes said would put millions of Americans' safety net retirement plans"at risk."
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