House Republicans fail to overturn Biden's veto on retirement plan investing rule.
House Republicans failed to override President Joe Biden's first veto that blocked a GOP-backed bill overturning a Labor Department rule on investing strategies for retirement savings. The GOP needed a two-thirds majority to override Biden's veto – which was unlikely given the Republicans' narrow, nine-seat majority. The ESG rule, an investing strategy that takes into account businesses’ environmental and social risks as part of a wider financial analysis, had the backing from Republicans in the House and Senate. Biden said he would veto the bill before it reached his desk.