Biden Issues His First Veto On Bill Influenced By “MAGA Republicans”

President Biden has issued his first veto – one that was heavily influenced by “MAGA” Republicans. This veto came out Monday. Shortly after the veto decision went public Biden also tweeted a video singling out House Representative Marjorie Taylor Greene, R-Georgia.

The bill was one that many House Republicans supported. It’s purpose was to take environmental, social, and corporate governance (ESG) issues out of the equation when making investment decisions. GOP lawmakers have argued that ESG issues are just a portion of corporate loyalty to “woke” cultural movements and shouldn’t be taken into account when thinking about retirement investments. The bill was set to specifically end enforcements of a new Labor Department rule that is set to urge private retirement plan fiduciaries to consider ESG’s in their investment decisions though this decision could change retirement plans for more than 150 million people.

According to Biden’s Tweet Monday, the President 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.

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

With Biden’s veto the GOP’s bill will now return to Congress where it is unlikely to receive the two-thirds majority it would need to pass after a presidential veto.