Senator James Lankford (R-OK)supports a Congressional Review Act (CRA) resolution of disapproval that would prevent President Biden from implementing a rule that would politicize Americans’ retirement investments in favor of Biden’s Green New Deal, also known as Environmental, Social, and Corporate Governance (ESG) investing. The resolution of disapproval passed in a vote of 50-46.
The vote sets the stage for a likely veto by the the President according to political observers on Capitol Hill.
“President Biden wants to do to our retirement savings what he has done for the economy as a whole,” said the GOP Senator in explaining his opposition.
“Americans want their retirement savings to be non-political, and they do not want President Biden prioritizing Green New Deal investments over their retirement. Anyone can invest their own money in whatever way they choose with any ESG or other personal priorities they desire, but the Administration should not pressure retirement investors to put hard-working Americans’ money into funds with lower returns and higher fees, simply because they follow the President’s liberal agenda,” said Lankford.
Lankford joined Newsmax ahead of the vote to discuss why this rule does not benefit Americans.
Lankford and Mike Braun (R-IN) along with their Senate colleagues introduced the CRA to challenge President Biden’s 401(k) ESG rule. Lankford penned an opinion piece for The Washington Times on his opposition to ESG investing.