The Woke 401(k) Rule Must Be Repealed
March 28, 2023
Dear Speaker McCarthy, Leader Scalise, and Whip Emmer,
Thank you for your efforts to repeal the highly concerning Biden-Harris Department of Labor rule, “Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights,” which would allow leftwing “ESG” priorities to take precedence over returns for 401(k) investments.
We are grateful that you advanced the Congressional Review Act resolution (H.J.Res. 30) and sent it to President Biden’s desk. It is unconscionable that he vetoed this resolution. At a time when he took swift action to bail out wealthy California depositors at Silicon Valley Bank, Biden has demonstrated that the value of middle-class workers’ retirement savings is not as important as progressive values on the environment, biological sex, and other matters.
Because millions of workers will still be hurt by this rule, we look forward to your ongoing legislative efforts to repeal it. For example, a repeal of this rule could be included as part of an upcoming appropriations bill.
Please let us know how we can support you in this and other initiatives to protect workers’ savings.
Sincerely,
Paul Teller
Executive Director
Advancing American Freedom
Grover Norquist
President
Americans for Tax Reform
Steve Buri
President
Discovery Institute
Jessica Anderson
Executive Director
Heritage Action for America
Brent Gardner
Senior Vice President
Americans for Prosperity
David McIntosh
President
Club for Growth
Greg Sindelar
Chief Executive Officer
Texas Public Policy Foundation
Richard Morrison
Senior Fellow
Competitive Enterprise Institute
Kimberly Yee
Treasurer
State of Arizona
Daniel M. Elliott
Treasurer
State of Indiana
David McRae
Treasurer
State of Mississippi
John Murante
Treasurer
State of Nebraska
Todd Russ
Treasurer
State of Oklahoma
Josh Haeder
Treasurer
State of South Dakota
Riley Moore
Treasurer
State of West Virginia
Bob Carlstrom
President
AMAC Action
Thomas Jones
President
American Accountability Foundation
Phil Kerpen
President
American Commitment
Dick Patten
President
American Business Defense Council
Julie A. Ellsworth
Treasurer
State of Idaho
John M. Schroder
Treasurer
State of Louisiana
Vivek Malek
Treasurer
State of Missouri
Thomas Beadle
Treasurer
State of North Dakota
Stacy Garrity
Treasurer
State of Pennsylvania
Marlo Oaks
Treasurer
State of Utah
Derek Kreifels
Chief Executive Officer
State Financial Officers Foundation (SFOF)
Shawnna LM Bolick
Former State Representative
Arizona House of Representatives
Carla Sonntag
President and CEO
Better Together New Mexico
Ralph Benko
Chairman
The Capitalist League
Ryan Ellis
President
Center for a Free Economy
Daniel J. Mitchell
President
Center for Freedom and Prosperity
Jameson Taylor, Ph.D.
President and CEO
Center for Political Renewal (CPR)
Andrew Langer
President
Institute for Liberty
F. Vincent Vernuccio, J.D.
President
Institute for the American Worker
Penny Nance
CEO and President
Concerned Women for America LAC
Seton Motley
Founder and President
Less Government
Dr. Steven J. Allen, JD, PhD
Vice Chairman
The Conservative Caucus
Jason Isaac
Director
Life:Powered
The Honorable George K. Rasley, Jr.
Managing Editor
ConservativeHQ.com
David Ridenour
President
National Center for Public Policy Research
Kristen A. Ullman
President
Eagle Forum
Tim Jones
Former Speaker
Missouri House of Representatives
Suzi Voyles
President
Eagle Forum of Georgia
Paul Stam
Former Speaker Pro Tem
NC House of Representatives
Tarren Bragdon
President and CEO
Foundation for Government Accountability
Kevin Freeman
Founder
NSIC Institute
Bette Grande
CEO
The Heartland Institute
Gerard Kassar
State Chairman
NYS Conservative Party
Diana Furchtgott-Roth
Director, Center for Energy, Climate, and Environment
The Heritage Foundation
Duvi Honig
Founder and Chief Executive Officer
Orthodox Jewish Chamber of Commerce
Heather R. Higgins
CEO
Independent Women’s Voice
Dave Zimmerman
Member
Pennsylvania House of Representatives
Fran Bevan
State Leader, Pennsylvania
Phyllis Schlafly Eagles
Donna Jackson
Director of Membership Development
Project 21 Black Leadership Network
Charlie Gerow
CEO
Quantum Communications
Matt Bell
CEO
Reliable Energy, Inc.
Paul Gessing
President
Rio Grande Foundation
Mike Stenhouse
CEO
RI Center for Freedom & Prosperity
Allen Roth
President
Secure America Now
Saulius “Saul” Anuzis
President
60 Plus Association
James L. Martin
Founder/Chairman
60 Plus Association
Andrew Sorrell
State Auditor
State of Alabama
Mike Harmon
Auditor of Public Accounts
State of Kentucky
Mike Kehoe
Lieutenant Governor
State of Missouri
Scott Fitzpatrick
State Auditor
State of Missouri
The Honorable Carrie Isaac
State Representative (HD73)
Texas House of Representatives
C. Preston Noell III
President
Tradition, Family, Property, Inc.
Donald L. Luskin
Chief Investment Officer
TrendMacro
Nate Dunning
Chairman
Young Conservatives of Texas
Cc: House Appropriations Committee, House Rules Committee