March 20, 2023

Manchin Statement on President Biden's Veto of Bipartisan Challenge to ESG Rule Politicizing Americans' 401KS

Washington, DC – Today, U.S. Senator Joe Manchin (D-WV) released the following statement on President Biden’s veto of the bipartisan Congressional resolution to nullify the Administration’s environmental, social, and corporate governance (ESG) rule which prioritizes politics over getting the best financial returns for millions of Americans’ retirement investments.
“This Administration continues to prioritize their radical policy agenda over the economic, energy and national security needs of our country, and it is absolutely infuriating. West Virginians are under increasing stress as we continue to recover from a once in a generation pandemic, pay the bills amid record inflation, and face the largest land war in Europe since World War II. The Administration’s unrelenting campaign to advance a radical social and environmental agenda is only exacerbating these challenges. This ESG rule will weaken our energy, national and economic security while jeopardizing the hard-earned retirement savings of 150 million West Virginians and Americans. Despite a clear and bipartisan rejection of the rule from Congress, President Biden is choosing to put his Administration’s progressive agenda above the well-being of the American people.”

On February 1, 2023, Senator Manchin led 50 bipartisan Senators in introducing the resolution to nullify the ESG rule. On March 1, 2023, Senator Manchin voted for the resolution and spoke on the Senate floor on its importance. On March 6, 2023, Senator Manchin published an op-ed on the dangers of promoting the ESG agenda.