(Fox News) President Biden sparked outrage after issuing the first veto of his presidency Monday to thwart a bipartisan anti-ESG bill.
The bipartisan bill sought to strike down a new Labor Department rule encouraging retirement fiduciaries to consider environmental, social and corporate governance (ESG) issues in their investments. Sen. Joe Manchin, D-W. Va., blasted Biden for the veto, saying, “President Biden is choosing to put his Administration’s progressive agenda above the well-being of the American people.”
Biden tweeted a video of himself discussing the veto and trying to blame “MAGA Republicans” for it.
“I just vetoed my first bill. This bill would risk your retirement savings by making it illegal to consider risk factors MAGA House Republicans don’t like. Your plan manager should be able to protect your hard-earned savings — whether Rep. Marjorie Taylor Greene likes it or not,” he said.
I just vetoed my first bill.
This bill would risk your retirement savings by making it illegal to consider risk factors MAGA House Republicans don’t like.
Your plan manager should be able to protect your hard-earned savings — whether Rep. Marjorie Taylor Greene likes it or not. pic.twitter.com/PxuoJBdEee
— President Biden (@POTUS) March 20, 2023
Members of the media are visible in the sunglasses of President Biden as he speaks on the South Lawn of the White House Monday, May 30, 2022. (AP Photo/Andrew Harnik)
Commentators and public figures across Twitter scorched Biden both for the veto as well as how he framed the legislation.
“The fact that Biden’s first veto is about promoting ESG reveals the problem: this isn’t the invisible hand of the ‘free market.’ It’s the invisible fist of government. Don’t fall for their trick,” presidential candidate Vivek Ramaswamy tweeted.
The fact that Biden’s first veto is about promoting ESG reveals the problem: this isn’t the invisible hand of the “free market.” It’s the invisible fist of government. Don’t fall for their trick. https://t.co/qUeWxwgpxH
— Vivek Ramaswamy (@VivekGRamaswamy) March 20, 2023
“Lying by Omission,” author and former journalist Charles R. Smith wrote. “The bill was about ending ESG, the practice of disenfranchising investors (=pensionists) and empowering managers to [pursue] their own ideological goals, instead of following their fiduciary obligations.”
“The people who manage your retirement savings should only have one thing to consider: Your retirement security,” GOP rapid response director Tommy Pigott tweeted. “Once again Biden is prioritizing far-left special interests over the economic well-being of the American people.”
The people who manage your retirement savings should only have one thing to consider: Your retirement security.
Once again Biden is prioritizing far-left special interests over the economic well-being of the American people.
— Tommy Pigott (@TommyPigott) March 20, 2023
President Biden has delivered multiple public statements in recent months slamming “MAGA Republicans.” (Photo by Alex Wong/Getty Images)
Sen. Tom Cotton, R-Ark., wrote, “Joe Biden’s first veto as president: letting retirement fund managers prioritize ESG scams over the best-performing investments. Why is he playing games with working people’s retirement money?”
Joe Biden’s first veto as president: letting retirement fund managers prioritize ESG scams over the best-performing investments.
Why is he playing games with working people’s retirement money? https://t.co/KaAex5TMDy
— Tom Cotton (@SenTomCotton) March 20, 2023
