The poison of the radical left isn’t limited to just schools, universities, Hollywood, or the media. If Joe Biden gets his way, even your retirement funds will be polluted with “woke” policy. Biden is trying to force investment firms to prioritize far-left investments, including “environmental justice” and other socialist goals.
It’s an obvious attempt by the left to force banks to fund radical programs, on your dime. But these investments are sure to fail, just as sure as wind turbines fail in the middle of a Nebraska winter. So, House Republicans aren’t sitting around letting Joe rob you of your future.
The House voted Tuesday to kill the Biden administration’s controversial rule that encourages private retirement plan fiduciaries to consider environment, social and governance (ESG) factors when making investment decisions for tens of millions of Americans…
Under the rule, fiduciaries who make investment decisions for the retirement plans of more than 150 million people would be explicitly permitted under federal guidelines to consider companies’ approach to climate change and other social issues, instead of focusing on only profitability and return on investment for retirees. [Source: Fox News]
House Republicans voted to shut down a Biden rule that would have tanked over 100 million Americans’ investments and retirement funds. The rule would have coerced investors to consider how “woke” a company was, before they invested in it.
Ordinarily, you invest money in companies you believe will make you money. You don’t invest your hard-earned money into companies, just because they say all the right political things. But Biden wanted the people who manage your money (not to mention manage the money of the company you work for and the money of most investors) to prioritize who pro-leftist a company is before investing.
That’s like saying, “Oh, yeah, this company has lost millions of dollars over the last year. But its CEO says climate change is bad, so we’ll give him all your money!”
Biden is doing this to bail out bad companies that are politically aligned to the left. This is yet another scheme by Democrats to bankroll their allies and agenda–against the wishes of Americans. More proof that they are treating “wokeism” like a religion, forcing you to convert whether you want to or not.
With the passage of this vote we are one step closer to shutting down this bogus rule. But it will take the Senate to pass it as well. Biden still might veto, but the battle is far from over. Don’t be surprised if states sue Biden’s Department of Labor, to ensure this idiocy comes to an end.
Author: Bo Dogan