Press Releases

WASHINGTON – Today, Rep. Estes (R–Kansas) voted in favor of H.J. Res. 30, a Congressional Review Act to stop President Biden's plan to advance a radical, detrimental agenda for retirement investments. On Dec. 1, 2022, the Biden administration's Department of Labor (DOL) published a final rule that removed protections for retirement savers and allows retirement plan fiduciaries to consider environmental, social and governance (ESG) factors when making retirement investments. 

"President Biden's ESG rule ignores current law and allows the Department of Labor to pick political winners and losers," said Rep. Estes. " Biden's rampant inflation has already burdened retirees and workers. This rule only furthers the left's social agenda and does nothing to protect those saving for their future."

H.J. Res. 30 nullifies Biden's ESG rule under the Congressional Review Act and reinstates 2020 Trump-era DOL protections that make investment decisions based solely on the benefit to investors and their retirement savings.

Rep. Estes previously wrote about using companies using ESG scores in an op-ed for The Hill. LINK: https://thehill.com/opinion/congress-blog/3461944-democrats-willing-to-weaponize-esg-scores-to-punish-americans/