President Joe Biden (D) has vetoed his first bill as President, more than two years after the start of his first term in office.
According to Fox News, “The Republican-led legislation prevented Biden's administration from taking environmental, social and corporate governance (ESG) issues into account when making investment decisions. GOP lawmakers argue ESG is a measure of a corporation's loyalty to ‘woke’ cultural movements and should not be taken into account.”
Hence the reason for the veto.
President Biden took aim at Representative Marjorie Taylor Greene (R-GA) and her view of the bill, saying that the legislation was heavily influenced by “MAGA Republicans.”
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
"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," stated President Biden in a tweet.
However, it should be noted that the bill also passed in the narrowly Democrat-controlled Senate in order to reach the President’s desk.
Moderate Democrat Senator Joe Manchin (D-WV) said the President and his administration is “prioritizing their radical policy agenda” over the “well-being of the American people.”
Florida Governor and potential Presidential candidate Ron DeSantis (R-FL) replied to the President’s veto, mentioning that he and 19 other states have formed a coalition against the ESG policies of the Biden administration and that they plan to “combat the threat.”
Biden's veto is why I formed an alliance of freedom-loving states to combat the threat posed by ESG.
Now with Virginia, our 20-state coalition will protect our citizens against powerful economic actors using their financial might to impose an ideological agenda. https://t.co/3YSZl712EE
— Ron DeSantis (@GovRonDeSantis) March 20, 2023
“Biden's veto is why I formed an alliance of freedom-loving states to combat the threat posed by ESG. Now with Virginia, our 20-state coalition will protect our citizens against powerful economic actors using their financial might to impose an ideological agenda,” stated Gov. DeSantis.
Florida Representative Byron Donalds (R-FL) responded to Biden’s statement regarding his veto as well, stating that Americans should not foot the bill of the Green New Deal.
More poll-tested garbage from the White House.
Let's talk about the FACTS. This was a BIPARTISAN bill supported by Sen. DEMs Manchin and Tester and Golen in the House.
Americans' retirement accounts should NOT fund Green New Deal absurd plans and pet projects. https://t.co/jKPh3Znr52
— Congressman Byron Donalds (@RepDonaldsPress) March 20, 2023
“More poll-tested garbage from the White House. Let's talk about the FACTS. This was a BIPARTISAN bill supported by Sen. DEMs Manchin and Tester and Golen in the House. Americans' retirement accounts should NOT fund Green New Deal absurd plans and pet projects,” stated Rep. Donalds.
If the Legislative Branch wishes to override the President’s veto, it would require a two-thirds vote in both the House of Representatives and the Senate.
