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ARTICLE · 04 APRIL 2023

POTUS Issues First Veto (Beltway Buzz, March 24, 2023)

Ogletree, Deakins, Nash, Smoak & Stewart
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On March 20, 2023, after more than two years in office, President Biden issued his first legislative veto. As expected, President Biden rejected the bipartisan Congressional Review Act resolution...

United StatesEmployment and HR
James J. Plunkett
James J. Plunkett
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The Beltway Buzz is a weekly update summarizing labor and employment news from inside the Beltway and clarifying how what's happening in Washington, D.C. could impact your business.

On March 20, 2023, after more than two years in office, President Biden issued his first legislative veto. As expected, President Biden rejected the bipartisan Congressional Review Act resolution that rescinded the U.S. Department of Labor's rule (DOL) that allows retirement plan fiduciaries to consider environmental, social, or governance (ESG) factors when making investment decisions. The White House said in a statement that the DOL rule "allows retirement plan fiduciaries to make fully informed investment decisions by considering all relevant factors that might impact a prospective investment, while ensuring that investment decisions made by retirement plan fiduciaries maximize financial returns for retirees." As the Buzz has mentioned, the DOL investor rule is one front in the

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