ASA Applauds Passage of Senate ESG Measure

Calls on Biden to uphold the will of Congress and the American people

WASHINGTON, D.C. – Today, the American Securities Association (ASA) welcomed the U.S. Senate passing Senator Mike Braun’s (R-IN) measure challenging President Joe Biden’s environmental, social, and governance (ESG) rule allowing fiduciaries to consider factors other than rate of return.

"The retirement savings of America’s working families must never take a back seat to the fee generation of Wall Street‘s ESG Industrial Complex,” ASA CEO Chris Iacovella said. “We are pleased the Senate is taking bipartisan action to roll-back this rule and we urge the President to accept the will of Congress and the American people.”

Today’s vote comes on the heels of the U.S. House of Representatives passing Representative Andy Barr’s (R-KY) Congressional Review Act (CRA) rolling back the Department of Labor’s (DOL) ESG rule.

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