Here’s a recap of what Republicans achieved on the House Floor this week:

Retirement Savings Are Not a Political Football ✅ In November 2022, the Biden Department of Labor released a final rule allowing financial managers to factor environmental, social, and governance (ESG) into investment decisions and even automatically enroll retirement savers into ESG investments, affecting the retirement funds of more than 152 million Americans.

Retirement plans should be delivering maximum returns for the men and women who depend on their 401(k)s for their retirement, not advancing Democrats’ woke ESG agenda.

H.J. Res. 30, introduced by Rep. Andy Barr, will block the Department of Labor’s rule green-lighting ESG investing in retirement plans by utilizing the Congressional Review Act’s expedited procedures to allow Congress to consider whether to block newly enacted federal rules.

“Americans are suffering from a $3.8 trillion savings gap that is jeopardizing retirement for millions. That’s why Congress must dig in and prevent the Biden Administration from greenlighting any attempt to elevate a political agenda ahead of delivering maximum financial security so that seniors can live comfortably in retirement,” said Representative Andy Barr, Chairman of the House Financial Services Subcommittee on Financial Institutions and Monetary Policy.

What Members Said:

“ESG, simply, is a woke capitalist scam posing as responsible corporate governance, which robs Americans of their hard-earned retirement investments. It’s time to stand against the progressive mob who only want an inch but seem to take a mile. So, today we are going to say no. We are going to draw the line and say it ends now,” said Representative Aaron Bean.
Rep. Juan Ciscomani slammed the Biden Administration for playing politics with the retirement funds of hardworking Americans.
 

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Taking Steps to Rein In Bidenflation ✅ Since President Biden has been in the White House, inflation has gone from 1.4 percent in January 2021 to 6.4 percent in January 2023. 

Because of President Biden’s and the Democrats’ radical spending, Americans have lost roughly $10,000 in savings, and are seeing double-digit price increases at the grocery store and the gas pump.

House Republicans are taking action to hold the Biden Administration accountable for their wasteful spending and reverse Democrats’ self-made inflation crisis.

House Conference Chair Elise Stefanik’s legislation, H.R. 347, the Reduce Exacerbated Inflation Negatively Impacting the Nation Act, requires the Office of Management and Budget and the Council of Economic Advisers to provide an inflation estimate for each Executive Order that is projected to cause an annual gross budgetary effect of at least $1 billion.

“As every hardworking family is forced to pay more for almost everything due to Bidenflation, I am proud to pass my bill, the REIN IN Inflation Act, to hold the Biden Administration accountable for their reckless spending causing prices to skyrocket,” House Conference Chair Elise Stefanik said. 

“During the past two years of Far Left one-party Democrat rule in Washington led by Joe Biden, inflation skyrocketed to the highest level in my lifetime. It is a tax on every American, and it continues to be the number one concern I hear across my district in Upstate New York,” continued Chair Stefanik. “By passing the REIN IN Inflation Act, House Republicans are providing a critical check on the Biden Administration and taking a step forward in fulfilling our Commitment to America to create an economy that is strong for every hardworking family.”

What Members Said:

“Americans are navigating an inflation rate not seen in generations, and their dollar isn’t going far enough because wages aren’t keeping up. It’s no wonder that a recent Gallup poll found that 50 percent of Americans said they are worse off financially than just a year ago and that’s a level not seen since the Great Recession. Let me be clear: We have this generational inflation thanks to two years of runaway spending,” said Representative Rudy Yakym.
 
Rep. Ben Cline highlighted how American families are suffering under Bidenflation.