(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.
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