Posted on 03/20/2023 3:23:42 PM PDT by Olog-hai
President Joe Biden issued the first veto of his presidency Monday in an early sign of shifting White House relations with the new Congress since Republicans took control of the House in January — a move that serves as a prelude to bigger battles with GOP lawmakers on government spending and the nation’s debt limit.
Biden sought to kill a Republican-authored measure that would ban the government from considering environmental impacts or potential lawsuits when making investment decisions for people’s retirement plans. In a video released by the White House, Biden said he vetoed the measure because it “put at risk the retirement savings of individuals across the country.”
His first veto represents a more confrontational approach at the midway of Biden’s term in office, as he faces a GOP-controlled House that is eager to undo parts of his policy legacy and investigate his administration and his family. Complicating matters for Biden, several Democratic senators are up for re-election next year in conservative states, giving them political incentive to put some distance between them and the White House.
But critics say so-called environmental, social and governance investments allocate money based on political agendas, such as a drive against climate change, rather than on earning the best returns for savers. Republicans in Congress who pushed the measure said environmental or social considerations in investments by the government are just another example of being “woke.”
“In his first veto, Biden just sided with woke Wall Street over workers,” House Speaker Kevin McCarthy, R-Calif., tweeted on Monday. “Tells you exactly where his priorities lie.” He said “it’s clear Biden wants Wall Street to use your retirement savings to fund his far-left political causes.” …
(Excerpt) Read more at apnews.com ...
So-called environmental, social and governance investments allocate money based on political agendas.
It’s not about social and governance investments it’s about control with a mask on like everything else the democrat party does.
Well, if it is the “teachers” unions retirement funds, feel free to piss them away of pie in the sky BS.
Unfortunately I know that it is a lot of normal people that will also suffer.
Biden’s not “taking on” anything.
He has the votes to sustain anything he vetoes, and by a lot.
Demented grifter is as demented grifter does.
China’s happy.
If Biden’s veto means he’s taking on the GOP House … then how did this bill pass the Democrat-controlled Senate?
ESG the democrats Slush Fund
These imbeciles often did put their money where their mouths were. They invested in SVB and we have the pleasure of bailing their stupidity out again.
Republicans don’t have enough votes to get a bill to the presidents desk.
They constrain your choice for your so-called protection.
It is a basic conservative principle to be against double and more taxation. It stifles investment and innovation. There shouldn’t be taxes on interest and dividends. There shouldn’t be capital gains taxes. Furthermore, retirement plans should not be tied to employers or unions. Employers can have retirement benefits for employees, but employees should be able opt out and if employers offer any matching funds, employees should be able to invest those contributions as they see fit. Defined benefits plans such as pensions should be completely optional.
The result would be that there wouldn’t be any such thing as a retirement plan. Individuals invest, or not, without any tax consequences. It places the responsibility on individuals. Anytime responsibility is increased it is a good thing. People don’t need to be financial wizards if they don’t want. They could always use products from brokers that are geared towards retirement (low risk) instead of doing it themselves.
Republicans will, but you need a two-thirds majority and that takes Democrats going along.
So is he going to influence Democrats to override vetoes like this? That’s the question, but the implication from his going along with the spending bill that stabbed his own constituents in the back does not seem to be “yes”.
“”that would ban the government from considering environmental impacts or potential lawsuits when making investment decisions for people’s retirement plans.””
Pardon me if this sounds stupid but what decisions does the GOVERNMENT make re people’s retirement plans? Are they in the investment business now?
Yes if you are a police officer or a teacher.
Why, they’re in any business they want to be in. They’re the government, after all . . .
“If Biden’s veto means he’s taking on the GOP House … then how did this bill pass the Democrat-controlled Senate?”
A bill only needs a majority in the House and in the Senate to pass. It is then sent to the president to sign it into law or veto it. If the president vetoes it, it goes back to Congress, where a 2/3 majority of Congress must vote to override the presidential veto.
Well, since Biden F*cks up everything he touches, and police officers and teachers SUCK on the Govt teat, let them and their golden retirement packages crash and burn.
“Republicans don’t have enough votes to get a bill to the presidents desk.”
Well, THIS bill had enough votes to get it to Biden’s desk. It only requires a simple majority vote. But it takes a 2/3 majority vote of Congress to override a presidential veto.
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