GOP AND MANCHIN TO OPPOSE BIDEN PLAN

GOP AND MANCHIN TO OPPOSE BIDEN PLAN

GOP and Manchin to oppose Biden plan. President Biden is proposing a climate investment rule, which opponents say "politicizes" and prioritizes what is to be invested in 401 (k) plans, for Americans. The plan would prioritize investing in climate change and governance rules regarding social issues championed by Democrats, that many Republicans oppose philosophically, and on religious grounds. The proposal by Biden would impact nearly 152 Americans retirement plans. The Biden Administration Department of Labor unveiled the plan in November of 2022, set to take effect on January 30th, 2023, that will allow retirement plan managers to factor environmental and social issues into investment decisions. GOP and Manchin to oppose Biden plan.

The bipartisan disapproval resolution led by Se. Mike Braun, R-Ind, will be introduced and a companion bill to the House will be introduced by Rep. Andy Barr, R-Ky. Congressional passage of the resolution will allow Congress to overrule the administration and kill the regulation. "President Biden is jeopardizing retirement savings for millions of Americans for a political agenda", Braun stated. "It's a time when Amerians 401)k)s have already taken such a hit due to the market downturn and record high inflation, the last thing we should do is to encourage fiduciaries to make decisions with a lower rate of return for purely ideological reasons. That's why we are proud to stand up against this rule for the millions of Americans who depend on these funds for their retirement" the Senator from Indiana stated.

A group of 25 states last week filed a lawsuit against the Biden Administration over the rule, which Utah Attorney General Sean Reyes says would put millions of Americans safety net retirement plans at risk. If you had to dip into your retirement plan during the Covid Pandemic, you may qualify for Tax Relief. Many avenues exist for dealing with a tax debt, including the IRS Fresh Start Program. Its best to get a really good Tax Resolution Company in your corner and determine the best option.