Posts tagged with "Veto"

Above, President Joe Biden signs his first veto. (Photo source: Shawn Thew/EPA)

Biden issues first veto, knocks Marjorie Taylor Greene

March 23, 2023

On Monday, March 20, President Joe Biden vetoed his first bill—blocking the repeal of a Labor Department rule that permitted retirement investing tied to environmental and social goals, reports Politico.

The veto was expected, after the Biden Administration fought Republican-led efforts to pass the rollback three weeks ago. The House and Senate votes attracted support from three Democrats, including Senators Jon Tester of Montana and Joe Manchin of West Virginia—moderates who are up for reelection next year.

“This bill would risk your retirement savings by making it illegal to consider risk factors MAGA House Republicans don’t like,” Biden said on Twitter on Monday.

“Your plan manager should be able to protect your hard-earned savings—whether Representative Marjorie Taylor Greene likes it or not.”

While Republicans who led work on the repeal didn’t get it signed into law, it marked a partial victory for conservatives, who have targeted the rule and other policies that they say encourage major corporations to elevate climate and social goals in their business practices.

“This is trying to parallel financial return with an ideological push,” Senator Mike Braun (R-Indiana), who led the rollback push with Representative Andy Barr (R-Kentucky) told reporters in February. “I don’t like that.”

The Biden Labor Department rule at issue attempted to undo Trump-era policy that discouraged retirement plan managers from incorporating environmental and social factors into investment decisions. The Biden rule allows them to do so but does not require it.

Wall Street firms and their trade groups largely stayed on the sidelines during the fight, despite being the subject of criticism from Republican lawmakers. Lobbyists were confident that Biden would veto the repeal; and the industry is also laying low as the issue makes its way through the courts. The state of Texas is leading a multi-state lawsuit to block the rule.

“There’s just no upside,” said one trade association representative, granted anonymity to speak candidly. “Why bother, especially when you’ve got 25 state attorneys general who already have said they’re going to pony up and litigate?”

The House is scheduled to vote Thursday on overturning the veto, per a floor schedule circulated on Friday, March17. Near-unanimous Democratic opposition makes it unlikely the effort will garner the two-thirds support needed.

Research contact: @politico

President Donald Trump proclaimed a national emergeny last week over funding for the southern border wall. (Photo source: Screen grab from Twitter)

Pelosi urges House members on both sides of aisle to terminate Trump’s ‘national emergency’

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February 22, 2019

House Speaker Nancy Pelosi (D-California) is backing a legislative effort to block President Donald Trump’s national emergency declaration.

A week ago, on February 15, the president proclaimed a national emergency in order to secure more funding for his southern border wall— but admitted that it was not a truly urgent situation, saying, “I could do the wall over a longer period of time. I didn’t need to do this, but I’d rather do it much faster.”

Now, Democrats are bringing a bill to the floor intended to terminate he emergency mandate—and Pelosi is urging House colleagues on both sides of the aisle to support the resolution, according to a letter obtained by Politico on February 20.

“I write to invite all Members of Congress to cosponsor Congressman Joaquin Castro’s privileged resolution to terminate this emergency declaration,” Pelosi wrote, noting that the House will “move swiftly to pass this bill.”

“The president’s decision to go outside the bounds of the law to try to get what he failed to achieve in the constitutional legislative process violates the Constitution and must be terminated,” she added.

“We have a solemn responsibility to uphold the Constitution, and defend our system of checks and balances against the President’s assault,” Pelosi wrote.

According to the Politico report, aides for Castro circulated an email Wednesday afternoon, announcing plans to introduce the resolution of disapproval after Trump’s declaration was published in the Federal Register this week.

Word-of-mouth is that the resolution will be introduced on the House floor today. As soon as the House votes on the resolution, the clock starts for Senate GOP leaders, who are required under law to put the measure to a vote within 18 days.

It would take just four GOP senators to join with Democrats to approve the resolution, which appears quite plausible, given Republican concern with Trump’s emergency declaration, Politico said.

Senator Susan Collins (R-Maine) on Wednesday became the first GOP senator to publicly say she would support the Democratic resolution, according to the AP. Speaking at a Coast Guard ceremony in her state, Collins said Trump’s move “completely undermines” the role of Congress.

Trump would be certain to issue the first veto of his presidency over the measure, Politico says. To override him in the House, more than 50 Republicans would need to join with Democrats to secure the needed 288 votes.

Research contact: @heatherscope