United States: Joe Biden draws his veto for the first time and rejects a law carried by the Republicans

Joe Biden made use of his presidential veto for the first time on Monday March 20, rejecting a law carried by the Republican opposition limiting responsible investments in pension funds.

The US president said in a statement that the text, which rejects the consideration of environmental, social or governance criteria, dubbed "

", in financial decisions, threatens "

.

Whoever manages your pension should be able to protect your savings.

Joe Biden, President of the United States

With this law targeting a measure put in place by the US Department of Labor in January, which facilitates this type of investment in pension funds, the Republicans denounced an ideological posture.

"

" Joe Biden said, referring to an elected official from the hardest wing of the American right.

US President Joe Biden during lunch at the Capitol in Washington, United States, March 17, 2023. EVELYN HOCKSTEIN / REUTERS

The Republicans managed to pass this law thanks to their very slim majority in the House of Representatives.

The text had also been adopted in the Senate, yet controlled by the Democrats, thanks to the rallying of two senators from the presidential party and the absence of three others during the vote.

Republican Andy Barr, author of the law, had estimated that the measure targeted "

".

The White House immediately indicated that Joe Biden would veto it.

This text rejected on Monday had also been widely criticized by environmental organizations.

"

", denounced one of them, the Sierra Club.