ESG 401(k) Rule Targeted by GOP in Push to Override Biden Veto

Congressional Republicans say they will attempt to override the Biden administration’s first presidential veto, which rescued a highly politicized US Labor Department regulation that permits socially conscious retirement investing.

The House is scheduled to vote Thursday to override President Joe Biden’s veto of the Congressional Review Act resolution that sought to nullify the ESG rule, according to House Majority Leader Steve Scalise’s (R-La.) office.

In blocking the resolution Monday, Biden said canceling the DOL rule would “put at risk retirement savings of individuals across the country.”

The veto override would require a two-thirds majority in both chambers ...