Scalise: American Taxpayers Deserve the Best Investment, Not the Most Woke
Washington, March 10, 2023
House Majority Leader Steve Scalise (R-La.) joined Speaker Kevin McCarthy (R-Calif.), Republican Whip Tom Emmer (R-Minn.), Rep. Andy Barr (R-Ky.), and other members of the Republican Conference at yesterday's enrollment ceremony for Rep. Barr’s legislation, H.J. Res. 30, which has now passed both the House and Senate and protects the retirement funds of hard working Americans by blocking the Biden Department of Labor’s rule green-lighting ESG investing in retirement plans. Leader Scalise highlighted how ESG investing fails to maximize retiree’s returns, instead prioritizing President Biden’s woke Green New Deal agenda. Additionally, Leader Scalise slammed President Biden for threatening to veto this legislation, and for putting billionaire elites over the best interests of hardworking Americans who deserve the most out of their retirement funds after working and paying into the system.
Click here or on the image above to view Leader Scalise's remarks.On H.J. Res. 30 and protecting American retirement funds from woke investing:
“I want to start by thanking [Rep.] Andy Barr for taking the leadership on this bill to go and fight for those hard working taxpayers, who are out there on the job every single day showing up for work. And as they're working, they're putting a little bit of money aside, they're investing their money in 401(k)s, so that one day, they can retire and enjoy the other part of the American dream.
“After they work, so many years of their life, they want to retire, and they want a retirement fund that's going to give them the highest rate of return so they can go do more things in their retirement. And so they want investment opportunities that are going to ultimately allow them to have the best ability to retire and enjoy their life after work.
“And yet, President Biden got together with a bunch of billionaire elites who came up with utopian ideas to move those hard working taxpayers’ retirement funds into lower returning funds, these ESG funds. Historically, they're lower returns than the market and by the way, they actually cost more.
“It's kind of the typical example of big government socialism: Less return on American dollars at a higher cost to the hardworking taxpayer. That's not the America that those 150 plus million people worked for. They deserve to have the highest rate of return so that they can enjoy retirement to the fullest.
“And so President Biden's got a choice. When Speaker McCarthy signs this bill and sends it over to the White House, President Biden's got a choice. He's going to have to pick between billionaire elites or those hard working taxpayers who just want to have the best retirement possible after decades of working and paying into the system. The billionaires already have their money. Don't these hardworking taxpayers deserve the same ability to live their retirement to the fullest?
“That's a choice the President is going to have to make. And I think he's going to be hearing from Americans all over the country. As you see people, and – anybody watching, if you're a blue collar worker, you might not be a billionaire, but you want to enjoy the highest rate of return in your 401(k) so that when you do retire, you can do more things in your retirement. And a decision by President Biden in the next few days is going to decide just how much you're going to be able to get in your retirement.
“And so don't wait. Get in touch with the White House, now. Remind the President that he was elected to represent all the people – not just the billionaire elites who might get his ear every day, but those hard working Americans who make this country what it is today. And the man who led the charge to stand up for those hard working taxpayers, is my dear friend, [Congressman] Andy Barr from Kentucky."