For Immediate Release: Congressman Wesley Hunt co-sponsors and votes in favor of H.J. Res. 30

Contact: Matthew Topolski 

Email: Matthew.topolski@mail.house.gov 

Washington, D.C. – Today, Congressman Wesley Hunt co-sponsored and voted in favor of H.J. Res. 30 – Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to “Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights.”

This Bill nullifies a Department of Labor (DOL) rule concerning fiduciary duties with respect to employee benefit plans. Under the new DOL rule, plan fiduciaries may consider ESG when making decisions and when exercising shareholder rights, which undermines statutory obligations under the Employee Retirement Income Security Act of 1974, which requires plan fiduciaries to act solely in the interest of plan beneficiaries. 

"ESG is the bane of human progress. It should have no place in investments or energy policy," said Hunt.

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