BREAKING: President Biden Issues First Veto, Puts Woke Wall Street Above Workers

On Monday, President Joe Biden issued the first veto of his presidency, striking down a law sent to his desk that would have reversed a rule from the Labor Department that focused on environmental, social, and governance (ESG) investing.

“I just vetoed my first bill,” Biden said in a post to Twitter. “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.”

“The President vetoed the bill because it jeopardizes the hard-earned life savings of cops, firefighters, teachers, and other workers – all in service of an extreme, MAGA Republican ideology.” White House spokesperson Robyn Patterson said in a statement.

According to The Hill, the Biden administration issued a rule that allowed money managers to take into account ESG factors when investing their clients’ money. The rule change went against a policy set by President Trump that banned such practices.

The Republican-controlled House passed the bill and the Senate did the same with a vote of 50 to 46 with Sens. Joe Manchin (D-WV) and Sen. Jon Tester (D-MT) joining Republicans in opposition to the new ESG rule. Both of those Democrats have difficult reelection campaigns in 2024.

In response to the news, Speaker of the House Kevin McCarthy (R-CA) wrote, “In his first veto, Biden just sided with woke Wall Street over workers. Tells you exactly where his priorities lie. Now—despite a bipartisan vote to block his ESG agenda—it’s clear Biden wants Wall Street to use your retirement savings to fund his far-left political causes.”

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“No one has put our retirement at risk more than you, Joe,” wrote Rep. Marjorie Taylor Greene (R-GA) in response to Biden’s direct attack. “American families can’t count on checks from China to pay their rent and groceries like your family does.”

At the time of the legislation’s signage by the Speaker after it passed in a bipartisan and bicameral fashion, Rep. Andy Barr (R-KY) who authored the legislation said, “We must maximize financial returns for Americans investing their hard-earned money to save for retirement,” said Congressman Barr. “This bipartisan, bicameral, commonsense legislation ensures that we are putting Americans’ financial security ahead of politics.”

“The Biden Administration should not be encouraging financial managers to make decisions that put left-wing environmental and social issues ahead of retirees’ financial security,” said House Majority Leader Steve Scalise (R-LA). The House passed it; the Senate passed it; but President Biden says it won’t get past his desk. By vowing to veto this important legislation, President Biden shows he prioritizes far-left, Green New Deal ideology over the 152 million Americans who are depending on their retirement accounts.”

now that President Biden has vetoed the legislation, it is unlikely to make it past the veto-proof majority, two-thirds, needed to override a presidential veto.

Once again President Biden shows that he is willing to prioritize left-wing politics over the well-being of Americans.

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