Trump Administration Announces Intent to Undo Biden-Era ESG Investing Rule

The Trump administration's Department of Labor recently filed a letter with the 5th Circuit Court of Appeals confirming that it intends to move forward with its plan to end Biden-era ESG investing standards.  The Biden-era rule allowed retirement plans to consider environmental, social and governance (ESG) factors when making plan-related investment decisions.  The Trump administration filing with the 5th Circuit announced its intent to release a new rule that would supersede the Biden-era rule--and, potentially, return to the stance adopted during the first Trump administration.  In the filing, the DOL gave limited information, but noted that the ESG rulemaking proposal will make it onto their spring agenda and they intend to move forward as expediently as possible.  The 5th Circuit is currently considering a case involving the Biden-era ESG rule.  For more information on the ESG investing issue, visit Tax Facts Online. Read More: Link to Q3986.02.