Alfredo Ortiz, president and CEO of Job Creators Network, released the following statement supporting Rep. Andy Barr’s recently reintroduced legislation to block the Biden administration’s politicization of retirement accounts:
“Rep. Barr’s legislation protects American retirement accounts from the Biden administration’s proposed woke regulations that would encourage employers to use ESG benchmarks in their investment decisions for employee 401(k) retirement accounts. It would ensure employers and investors fulfill their fiduciary duty to focus only on shareholder returns rather than the activist agenda that threatens savings. Rep. Barr’s legislation would block Biden’s attempt to put social engineering ahead of shareholders and savings accounts.”
Read JCNF’s comments opposing the Biden administration’s proposed ESG retirement rule here.