House fails to override Biden’s ESG veto

House Republicans on Thursday fell short of the two-thirds majority needed to override Biden’s veto on legislation that would have barred federal money managers from considering environmental, social, and governance (ESG) factors when making investment decisions.

The House voted 219-200 to override the veto, with one Democrat, Rep. Jared Golden (D-Maine), siding with every Republican who voted for the ban.

On Monday President Biden issued the first veto of his presidency, blocking the bill that would overturn a Labor Department rule that allows fund managers to base investment decisions on factors like climate change.

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