Biden's First Veto and Stances on Investing and the Middle Class

House Republicans failed to override President Joe Biden's veto of a resolution that would have prevented retirement fund managers from accounting for certain social factors when making investment decisions. The resolution took on the issue of environmental, social and governance (ESG), which has become a major target by conservatives who say it is unfair to certain companies, including in the oil and gas industry, and can be bad for investors. Biden vetoed the measure on Monday, saying then that the Department of Labor's rule "protects the hard-earned life savings and pensions of tens of millions of workers and retirees across the country."