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Pence Leads Coalition Against Democrats’ ‘woke capital agenda’

Vice President Mike Pence, Founder of Advancing American Freedom, recently released the following letter to Congress, co-signed by over 100 conservative leaders and organizations. Wrote Vice President Pence:

Each year, millions of new Americans retire from their jobs. Most of these retirees will have spent decades working hard to save as much money as they are able to in order to sustain them through a decade or more of retirement. The savings these Americans rely on are often managed by employer-sponsored plans (such as 401ks), for which the federal government established minimum standards and safeguards in the Employee Retirement Income Security Act of 1974 (ERISA). A pernicious practice known as Environmental, Social, and Governance (ESG) investing has emerged over the past several decades. Rather than prioritize the financial well-being and stability of retirees, ESG seeks to advance ideological goals related to environmental policy and other divisive subjects. While it is a tenet of a free society that people ought to be able to use their own money as they see fit (including advancing their own particular priorities), ESG is a misappropriation of retirees’ savings by money managers for their own political agendas. Most Americans think it’s a bad idea for companies to use their financial influence to advance a political or social agenda, as is the case in ESG investing.1 Forcing Americans into ESG investment is not only politically inappropriate, it is also financially irresponsible. According to research from the University of Chicago, mutual funds scoring highly on ESG factors are constantly outperformed by funds rated lowest for ESG.2 Moreover, 85 percent of the country does not even know what “ESG” is, and therefore would not be aware of the financial risks their retirement account managers are subjecting them to when they actively pursue ESG investment decisions.3 Under the Trump-Pence administration, the U.S. government protected retirees from this kind of abuse by issuing a rule clarifying that, under ERISA, the managers of retirement funds could not engage in ESG investment if it would have a negative impact on retiree’s savings or expose them to additional risks (“Financial Factors in Selecting Plan Investments”). Tragically, on November 22, 2022, the Biden administration chose to undermine the Trump-Pence safeguards by issuing their own ERISA rule that would make it easier for retirement fund managers to imperil retirees’ savings. With 22 percent of Americans set to be relying upon their retirement savings and benefits in 2050, this policy of misappropriation cannot be allowed to stand.

Fortunately, Congress can overturn the Biden administration’s dangerous ESG rule through the Congressional Review Act (CRA). Under the CRA, the new Congress can review and disapprove of rules issued in the last 60 days of the previous Congress. There is a limited lookback period authorized under the CRA, so it is critical that Congress act quickly.

Recently, Senator Mike Braun and Representative Andy Barr introduced joint resolutions which would block Biden’s ERISA rule and protect Americans from dangerous investment management practices. We, the undersigned organizations and officials, are calling on every member of the United States Congress to support these resolutions and stop Biden’s ideological embezzling of Americans’ retirement accounts.


Click here to see the list of coalition members opposed to the Biden administrations dangerous ESG rule.


The Capitol Switchboard is (202) 224-3121 we urge CHQ readers and friends to call their Senators and Representative, tell them you want prompt congressional action on the Braun – Barr Joint Resolution blocking Biden’s rule allowing the ideological embezzling of Americans’ retirement accounts.



  • Advancing American Freedom (AAF)

  • Mike Pence

  • Freedom Agenda

  • economic opportunity

  • American strength and leadership on the world stage

  • American culture

  • Three pillars: American Opportunity, American Leadership, and American Culture

  • Biden Justice Department

  • FBI raid Mar-a-Lago

  • Merrick Garland

  • Employee Retirement Income Security Act of 1974 (ERISA)

  • Environmental, Social, and Governance (ESG)

  • Congressional Review Act (CRA)

  • Senator Mike Braun

  • Representative Andy Barr

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7 Comments


hansslade4
hansslade4
Feb 15, 2023

Trump is the gunfighter we need to kick evil sheriff Biden and his democrat cabal out of town. He has survived over 6 years of character assassination by the dirtiest politics in history. Every rock has been turned over and yet his record is still unbeatable. Do we want to go through two more years of manufactured hate against an unknown number of republicans? In a fair election TRUMP will come back and make America great again, again.


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dgj
dgj
Feb 14, 2023

To borrow from a recent CHQ headline: The pious Mike Pence, "is both the arsonist and the fireman." He certainly was the arsonist in 2020. While he proclaims to love the Constitution, he helped Biden and the Uniparty trample on it with his January 6th antics. Now, of course, he's the fireman and he wants to be the one putting out the fires Little Joe Biden is setting to our country. I think not.

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If Pence isn't good enough for you, how about RINO Nikki Haley? The GOP is a RINO-infested mess. Conservatives need a new political party. Just as the Republican Party replaced the Whig Party in the mid-1850's, so now a new party must replace the Republican brand.


To that end, I encourage all of you to check out the website for the Founders Party of America. If the GOP has their way, conservatism will go the way of the dinosaur and the dodo bird.

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dgj
dgj
Feb 14, 2023
Replying to

I saw Nikki Haley on Twitter send out a campaign video. The first words of her tweet was, "Get excited!" Well, if you have to tell would-be supporters to be "excited," then there is a problem already! This reminds me of Jeb Bush saying, "please clap," to an apathetic audience. Don't know what else she has said but I'd say this is on shaky ground already.

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James Bryson
James Bryson
Feb 13, 2023

Pence is a traitor.

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Replying to

He handed Biden the White House on that most silver of proverbial platters.

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If anyone wants to trust or believe Pence, have at it. He handed Biden the White House on the proverbial silver platter by forsaking his Constitutional duty on Jan. 6, 2021. I wouldn't trust him to be the town dog catcher . . . !

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