Braun officially introduces challenge to Biden ESG rule politicizing Americans’ 401(k)s

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On Tuesday, Senator Mike Braun officially introduced the Senate challenge to President Joe Biden’s rule allowing fiduciaries to consider factors other than rate of return to promote his political agenda. All 50 Senate Republicans and Democratic Senator Joe Manchin joined Braun on the introduction. Representative Andy Barr is introducing the companion legislation in the House of Representatives.

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Today, Fox News reported that this challenge under the Congressional Review Act is supported by over 100 groups. Advancing American Freedom sent a letter explaining their support for Senator Braun and Representative Barr’s challenge to the new rule, calling Biden’s policy “politically inappropriate” and “financially irresponsible.”

Author: The Iowa Standard