Biden Signs First Veto Of His Presidency

The president announced that he signed the veto because the legislation would put at risk the retirement savings of individuals across the Nation.

On Monday, President Biden issued his first veto since he was sworn into office.

This motion rejected a bill that would have put an end to a Department of Labor rule that allows retirement plans to weigh the long-term impacts of corporate governance, environmental, and social factors, instead of making decisions based solely on the best rate of return.

The president announced that he signed the veto because the legislation would put at risk the retirement savings of individuals across the Nation.

Biden overall shared that his decision to veto the bill was based off of Congress not taking into consideration investments that would be “impacted by climate and by overpaying executives”.