©2025 League of Conservation Voters
Issues
Representative Andy Barr (R-KY) sponsored H.J. Res. 30, a Congressional Review Act (CRA) resolution of disapproval, which would repeal the Department of Labor’s (DOL) rule to protect peoples’ retirement savings from all types of financial risk, including those due to climate change. The CRA is an extreme and blunt tool that is being used by anti-environmental members of Congress who want to permanently strip away protections for our environment, communities, wildlife, and natural heritage. For decades, the DOL set forth rules that required retirement plan managers to prudently consider all relevant factors while remaining neutral on investment types. The Trump administration deviated from this long-standing approach, and the Biden-Harris administration restored neutrality. Plan managers can once again consider all relevant factors to assess investment risk, and base their decisions on these financial risk-return factors. Overturning this rule with a CRA resolution would return to the Trump-era standard that disregards the financial risks of dirty energy investments, standards that are being implemented in extremist Republican-led states across the country at a significant financial loss for their pension funds. On February 28, the House approved H.J. Res. 30 by a vote of 216-204 (House roll call vote 124). On March 1, the Senate approved H.J. Res. 30; however, it was vetoed by the president on March 20, and on March 23, the House failed to override the president’s veto.
©2025 League of Conservation Voters