(Photo: AP)
The U.S. Senate on Wednesday followed the House in approving a resolution that would overturn the Department of Labor rule allowing, but not mandating, consideration of environmental, social and governance investing in retirement plans.
However, President Joe Biden has said he would veto the bill, which would keep the rule intact. The vote margin in neither chamber was large enough to override the expected veto. The Senate voted 50-46 to overturn the rule, with all Senate Republicans voting yes, along with two Democrats, Joe Manchin of Weste Virginia and John Tester of Montana. The resolution passed the House along party lines with a margin of 216 to 204.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
