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These joint hearings are unique to the Veterans’ Affairs Committees and are held each year in recognition of the important, bipartisan and bicameral work our committees do to support servicemembers, veterans and their families, caregivers, and survivors. These groups included the Disabled American Veterans, The American Legion, the Paralyzed Veterans of America, the Student Veterans of America, the Iraq and Afghanistan Veterans of America, the National Association of State Directors of Veterans Affairs, the Black Veterans Empowerment Council, the Vietnam Veterans of America, the Fleet Reserve Association, the National Congress of American Indians and the National Guard Association of the United States. Senate Veterans’ Affairs Committee Annual VSO HearingsĪs the lead Republican of the Senate Committee on Veterans’ Affairs, I participated in two joint hearings this week with the House Veterans’ Affairs Committee to hear from Veterans Service Organizations. I encourage the President to listen to the representatives of the people and sign this resolution to nullify the rule. This resolution now goes to the President to be signed or vetoed. The 401(k) accounts of millions of Americans are not a political tool for the Biden administration to use to further its agenda.

This resolution enables Congress to express disapproval and nullify the rule. Last year, the DOL released a rule to allow retirement plan fiduciaries to consider ESG factors over financial returns when selecting investments for the retirement plans of more than 150 million American workers. The Employee Retirement Income Security Act of 1974 (ERISA) covers most employer-sponsored retirement plans, and the Employee Benefits Security Administration within the DOL is responsible for enforcing rules on how these retirement plans are invested.

I voted to support and pass a disapproval resolution under the Congressional Review Act (CRA) regarding a Department of Labor (DOL) rule that would allow asset managers to prioritize environmental, social and corporate governances (ESG) factors over the best financial returns for Americans' retirement accounts. Voting to Overturn Biden Administration Rule Impacting American Retirement Accounts Request Assistance with a Federal Agency.

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