Senate GOP One Vote Shy of Blocking ESG 401(k) Investing Rule

The fate of a Republican push to overturn a Biden administration rule on socially conscious retirement investing hinges on a single vote in the Senate as moderate lawmakers up for reelection in 2024 evaluate their options.

Sen. Mike Braun (R-Ind.) has pledged to bring a resolution to the floor under the Congressional Review Act to block the rule after next week’s recess. The resolution would overturn the Department of Labor regulation that permits retirement plans to consider environmental, social, and corporate governance factors on behalf of plan participants.

Braun’s resolution already has the support of every Republican senator, plus West ...