The record

LegislationLegislation· Mar 2023

Sponsored by Andy Barr (R)

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".

Would have blocked a Labor Department rule letting retirement plan managers consider climate change when investing.

Tradeoff

Would have canceled a rule letting retirement plan managers weigh climate and other environmental, social, and governance (ESG) factors.

What's in it

See official bill text

The House passed this 216-204 on February 28, 2023. The Senate passed it 50-46 on March 1, 2023. A later House vote on March 23, 2023 failed 219-200, and the bill was vetoed.

  1. House

    Introduced

    (Feb 7, 2023)

  2. House

    Committee on Education and the Workforce(Feb 7, 2023)

  3. House

    Passage of the bill

    Passed(Roll #124 · Feb 28, 2023)

    216 yeanay 204
  4. Senate

    Received from the House

    Received(Mar 1, 2023)

  5. Senate

    On the Joint Resolution

    Joint Resolution Passed(Roll #35 · Mar 1, 2023)

    50 yeanay 46
  6. House

    Sent to the President

    (Mar 9, 2023)

  7. House

    Passage, Objections of the President To The Contrary Notwithstanding

    Failed(Roll #149 · Mar 23, 2023)

    219 yeanay 200
  8. White House

    Vetoed(Mar 23, 2023)

    Joe Biden (D)

Final passage· 118th Congress · 2023–2025