AMAC Action joins in a coalition letter to House leadership applauding their efforts to repeal the Biden administration’s Environmental, Social, and Governance (ESG) rule and calling for Congress to continue efforts to codify the anti-ESG legislation. States are also taking up the mantle against ESG. AMAC Action will continue to work to repeal the woke ESG 401(k) rule and to eliminate this hurtful overreach. It is wrong for the Biden Administration to funnel the hard-earned savings for retirement into Biden’s woke agenda.
The Woke 401(k) Rule Must Be Repealed
March 28, 2023
Dear Speaker McCarthy, Leader Scalise, and Whip Emmer,
Thank you for your efforts to repeal the highly concerning Biden-Harris Department of Labor rule,
“Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights,” which
would allow leftwing “ESG” priorities to take precedence over returns for 401(k) investments.
We are grateful that you advanced the Congressional Review Act resolution (H.J.Res. 30) and sent
it to President Biden’s desk. It is unconscionable that he vetoed this resolution. At a time when he
took swift action to bail out wealthy California depositors at Silicon Valley Bank, Biden has
demonstrated that the value of middle-class workers’ retirement savings is not as important as
progressive values on the environment, biological sex, and other matters.
Because millions of workers will still be hurt by this rule, we look forward to your ongoing
legislative efforts to repeal it. For example, a repeal of this rule could be included as part of an
upcoming appropriations bill.
Please let us know how we can support you in this and other initiatives to protect workers’ savings.
Sincerely,
Bob Carlstrom
President
AMAC Action
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Just another scam to move us toward a one-world government!
I had a talk with my advisor. There will be no ESG funds in my portfolio. I did have Vanguard reach out to me via email promoting ESG investing. I replied to Vanguard in very clear terms regarding my position on ESG and have not gotten a reply, nor do I expect one.
It makes sense to call your investment representative or wealth manager and tell him or her flat out, no investment in any fund or ETF that use an ESG metric. Then put it in writing. We have to starve that beast by closely monitoring our own investment portfolios. Yeah, it’s a bit of heavy lifting but it is a place to start.
Excellent job AMAC.
Sign my name too.