Feenstra Votes to Nullify ESG Requirements for Retirement Accounts

WASHINGTON, D.C. – Today, U.S. Rep. Randy Feenstra (R-Hull) voted for, and the U.S. House of Representatives passed, a resolution overturning the Biden Administration’s Environmental, Social, and Governance (ESG) requirements for retirement investment funds without the explicit approval of investors.

“Thanks to his radical ESG agenda, President Biden is threatening the solvency and long-term returns of millions of retirement accounts. Between runaway inflation and overt cuts to Medicare, our seniors are struggling in the Biden economy, and ESG regulations only make matters worse,” said Rep. Feenstra. “When Iowans save their hard-earned money for retirement, they should feel confident that their investments are maximizing the most profitable returns; not prioritizing woke ideologies. I am proud to work with my Republican colleagues to overturn this backwards rule and eliminate Green New Deal agenda items from Iowans’ retirement savings.”

H.J. Res. 30 would eliminate ESG requirements for retirement funds and clarify that retirement plan fiduciaries must make investment decisions solely to maximize financial returns without concern for ESG guardrails.

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