FOR IMMEDIATE RELEASE
February 28, 2023
House Republicans Jeopardize Workers’ Retirement Security in Vote to Nullify DOL Rule
Washington, D.C. – The House vote to nullify the Department of Labor rule that protects workers and their life savings today is further proof that too many members of Congress will continue to do everything in their power to protect corporate interests—including fossil fuel companies looking to postpone the inevitable decarbonization of the economy.
“Those behind this effort are showing their cards with this misguided vote,” said Natalia Renta, senior policy counsel for corporate governance and power at Americans for Financial Reform. “By opposing a rule that increases workers’ retirement security, investment choices, and shareholder power, they are prioritizing powerful corporate interests above workers’ well-being.
Powerful corporate interests have long attempted to roll back progress that has been made on climate change, workers’ rights, racial equity, and other ESG issues with clear financial implications. With today’s vote, Republicans in the House reinforce these companies’ reckless policies against the environment and working families.
“Their attempt to distract us from this fact by imbuing ‘ESG’ with false meaning, vilifying it, and legislating against it is failing,” said Renta. “Senators must vote down this attack on workers, their money, and their future.”
Read our letter to the Hill for more information. The letter was co-led by Americans for Financial Reform and Public Citizen and has over 60 organizational signatories.