Tester to join Manchin, Republicans in blocking DOL green investment rule

[Jose Garcia]

Source: The Hill

Sen. Jon Tester (D-Mt.) will join Sen. Joe Manchin (D-W.V.) in voting for a Congressional Review Act (CRA) resolution to block a Labor Department rule allowing the consideration of environmental factors in money managers’ decisions.

In a statement Wednesday, Tester said he will vote for the resolution, which concerns use of environmental, social and governance (ESG) factors in investment in some retirement accounts. While Manchin has backed the resolution from the beginning, Tester had been noncommittal before Wednesday.

“At a time when working families are dealing with higher costs, from health care to housing, we need to be focused on ensuring Montanans’ retirement savings are on the strongest footing possible,” Tester said. “I’m opposing this Biden administration rule because I believe it undermines retirement accounts for working Montanans and is wrong for my state.”

Manchin has long been vocally against the rule, co-sponsoring the CRA resolution in February.

Read more: https://thehill-com.cdn.ampproject.org/v/s/thehill.com/policy/energy-environment/3879388-tester-to-join-manchin-republicans-in-blocking-dol-green-investment-rule/amp/?amp_gsa=1&amp_js_v=a9&usqp=mq331AQIKAGwASCAAgM%3D#amp_tf=From%20%251%24s&aoh=16776959501783&csi=0&referrer=https%3A%2F%2Fwww.google.com&ampshare=https%3A%2F%2Fthehill.com%2Fpolicy%2Fenergy-environment%2F3879388-tester-to-join-manchin-republicans-in-blocking-dol-green-investment-rule%2F

[HUAJIAO]

1. Two pigs in a poke. Their 'reasons' have nothing to do with reality.

If I want to invest in 'green' companies or whatever, that is my choice, not theirs to make for me.

[onecaliberal]

2. What about the free market?

[Probatim]

8. I came for this - the free market types have no understanding of how it works.

Morons.

[HUAJIAO]

15. Well, why am I not free to invest in what I want to invest in- like 'green" companies?

[jimfields33]

19. You can. There are funds that will accommodate you.

What they don’t want is for every retirement fund to only be allowed those.

[HUAJIAO]

20. Not going to happen anyway.

[William Seger]

3. Working Montanans, huh? Someone should check on what it means for his DONORS

Sorry to be skeptical, but his reason just doesn't quite have the "ring of truth."

[Freethinker65]

4. Tester wants to get re-elected. Manchin is Manchin

[Cha]

21. Who wants to get reelected, too in

a blood red state.

So our Planet suffers like the magas want it to.

[flashman13]

5. WTF Senator Tester. I expect Daines, Rosendale and Zinkie to embarrass Montana - but not you.

Show me one credible study that indicates that considering environmental factors in any way reduces return on investment. It has only been in the very recent past that large corporations have even attempted to be environmentally aware, even if only for PR purposes, in order to become better corporate citizens. With your vote you are undermining that process.

We have enough examples here in Montana of the ill effects of corporate environmental degradation (Butte/Anaconda automatically comes to mind). Article IX Section 1 of the Montana state constitution states &quot 1) The state and each person shall maintain and improve a clean and healthful environment in Montana for present and future generations. (2) The legislature shall provide for the administration and enforcement of this duty." Further, "in a 1999 landmark decision, MEIC v. Montana DEQ, the Montana Supreme Court ruled unanimously that Montanans’ constitutional right to a clean and healthful environment (Article IX, Section 1) is a fundamental right and one that is intended to be preventative in nature" (as per Montana Environmental Information Center).

Given what your home state requires of all of us, how can you in good conscience vote for the Congressional Review Act?

[CrispyQ]

10. Mammon is the god of the land. Everything is fair game in the quest for profit.

Looking one quarter ahead instead of seven generations.

[underpants]

6. So they can't even consider them?

Oh okay.

[LaMouffette]

7. Oh, no. I love Jon Tester, but I think this is clearly meant to suck up to Republicans before

the 2024 election.

[NewHendoLib]

9. .

[Still Sensible]

11. JMHO, Appears to be simply a necessary, but basically

of no consequence, political move for Senator Tester. If he is to be reelected in deep red Montana, he must maintain some level of "Maverick" bona fides. If he loses that, might as well just let the whomever the batshit Rs nominate run unopposed.

Fact is, this seems pretty shrewd to me. As soon as Manchin announced his opposition, the measure was destined to fail... so Jon gets some ammo for his Montana bona fides by making a move that has no practical consequence.

[MontanaFarmer]

13. This.

[JohnSJ]

22. Not sure why some don't seem to grasp this

[MontanaFarmer]

12. Jon tester is not joe mansion.

He takes a few positions and/or votes like this, unpopular with our own side, every election cycle. But unlike mansion and that idiot from Arizona, you won't find many, if any (DREAM act the exception) core issues or votes that he doesn't vote the party position on. Montana has changed, politically, since he was first elected, and he has had to change a bit along with it. Believe me when i tell you, we're lucky to have him. Steve daines will look like a Saint when compared to a senator rosendale/zinke.

[Tom Rinaldo]

14. It isn't worth likely losing control of the Senate over this bill. It simply isn't.

We have long known that only Manchin stands between WV sending a Right Wing Republican Senator to Washington. Same pretty much goes for Tester and Montana. Trump won both those states with huge margins. Democrats are defending a lot more Senate seats in 2024 than are Republicans.

Is this something Biden can veto?

[Fiendish Thingy]

16. The bill will not pass

Nobody’s going to kill the filibuster to pass this bill- it’s all political theatre.

[onenote]

24. Not subject to filibuster.

[Polybius]

17. Do what ya gotta do

We need you to win in '24.

[Celerity]

18. here is a working link

https://thehill.com/policy/energy-environment/3879388-tester-to-join-manchin-republicans-in-blocking-dol-green-investment-rule/

[MichMan]

23. I want an investment advisor who acts in a fiduciary manner with my retirement funds

I worked too damn hard for my IRA to have an advisor be allowed to make investment decisions that are not in my best interest.