Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to "Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights".

How it moves voter issues

• −1Environment & climate

  Nullifies the rule letting retirement plan managers weigh climate and other ESG factors in investment choices.

  Low confidence

  AI score: −1 from claude-opus-5-5. Compare the models

What it does

This joint resolution nullifies a Department of Labor rule concerning the fiduciary duties with respect to employee benefit plans. Under the rule issued on December 1, 2022, plan fiduciaries may consider climate change and other environmental, social, and governance factors when they make investment decisions and when they exercise shareholder rights, including voting on shareholder resolutions and board nominations.

Summary by the Congressional Research Service, passed senate version.

Every recorded vote on it

1. Feb 28, 2023House On PassageProviding for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to “Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights”216 yea 204 nayCounts toward rankings
2. Mar 1, 2023Senate On the Joint ResolutionA joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to "Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights".50 yea 46 nayCounts toward rankings
3. Mar 23, 2023House Passage, Objections of the President To The Contrary NotwithstandingProviding for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to “Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights”219 yea 200 nayCounts toward rankings