Manchin says Biden veto of ESG ban 'infuriating'

 March 21, 2023

Sen. Joe Manchin (D-WV) called a President Joe Biden veto of a ban on the use of ESG in investments "infuriating" on Monday, after Manchin and Sen. Jon Tester (WV) crossed party lines to pass the bill.

“This Administration continues to prioritize their radical policy agenda over the economic, energy and national security needs of our country, and it is absolutely infuriating,” Manchin said in a statement.

Manchin, a centrist Democrat, said that Biden was making things harder for his state, which was already struggling under the weight of inflation and economic woes.

“West Virginians are under increasing stress as we continue to recover from a once in a generation pandemic, pay the bills amid record inflation, and face the largest land war in Europe since World War II. The Administration’s unrelenting campaign to advance a radical social and environmental agenda is only exacerbating these challenges,” Manchin said.

Weakening security

Manchin acknowledged that ESG, which stands for environmental, social, and governance, rules would hurt West Virginia by restricting investments in coal, which is a major part of the state's economy.

“This ESG rule will weaken our energy, national and economic security while jeopardizing the hard-earned retirement savings of 150 million West Virginians and Americans. Despite a clear and bipartisan rejection of the rule from Congress, President Biden is choosing to put his Administration’s progressive agenda above the well-being of the American people,” he added.

Biden claimed that the ban would hurt retirees' portfolios, but he didn't explain how that would happen.

“I just signed this veto because the legislation passed by the Congress would put at risk the retirement savings of individuals across the country,” Biden said in a Twitter video about the veto.

Attacking MAGA Republicans

Biden also used the veto to attack "MAGA House Republicans" for being against ESG.

“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,” Biden tweeted.

The whole concept of ESG bolsters Democrat priorities by putting supposed climate change and progressive social policies ahead of the free market.

Taken to its logical conclusion, ESG could put out of business fossil fuel companies and conservative businesses that don't conform to progressive social ideas like transgender procedures for children or critical race theory.

Fighting dirty

This is exactly what Democrats want and why they are pushing ESG so hard--even if it is just a choice, for now.

Democrats are fighting dirty, and the future of the entire world may be at stake.

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