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Key Points
- Forty-nine Senate Republicans and Sen. Joe Manchin (D-WV) unveiled a resolution that would eliminate President Joe Biden’s ESG investing rule, which may politicize 401(k)s.
- “President Biden is jeopardizing retirement savings for millions of Americans for a political agenda,” Sen. Mike Braun (R-IN) told Fox News Digital, which first reported the news.
- “In a time when Americans’ 401(k)s have already taken such a hit due to market downturns and record high inflation, the last thing we should do is encourage fiduciaries to make decisions with a lower rate of return for purely ideological reasons,” Braun explained. “That’s why we are proud to stand up against this rule for the millions of Americans who depend on these funds for their retirement.”
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