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25 states hit Biden admin with lawsuit over climate action targeting Americans' retirement savings

Posted on AllSides January 26th, 2023
From The Right
Andrew Harrer/Bloomberg via Getty Images / Getty Images

A group of 25 states on Thursday filed a federal lawsuit against the Biden administration, arguing a recent rule allowing retirement plan managers to factor environmental and social issues into investment decisions violated the law.

The lawsuit — led by Utah Attorney General Sean Reyes and joined by 24 other states including Louisiana, Texas and Virginia — challenges a Department of Labor (DOL) rule unveiled in November and which is set to go into effect on Jan. 30. The rule would open the door for fiduciaries to factor so-called environment,...

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https://www.foxbusiness.com/politics/25-states-hit-biden-admin-lawsuit-climate-action-targeting-americans-retirement-savings

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