Steil Statement on Rescinding Biden Administration’s New Woke Investing Rules

WASHINGTON, DC – Today, Congressman Bryan Steil (WI-01) released a statement after voting to rescind the Biden Administration’s Department of Labor rule allowing Environmental, Social, and Governance (ESG) investing by employer-sponsored retirement plans.

“Your retirement funds decisions should be based on risk and return – the Left’s new DOL rule would allow investors to use your retirement savings to advance a political agenda. Political decisions should be left at the ballot box. I voted to rescind the DOL rule.”

Background:

Steil is an original cosponsor of H.J. Resolution 30 and is a member of the House Financial Services ESG Working Group.

Steil recently introduced the Putting Investors First Act, legislation to disrupt the woke attack on American capitalism and rein in proxy advisors.

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