Senate Bill 8 - A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to "Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights".

Purpose and Summary

Chamber: Senate

Introduced date: 2023-02-07

Recent Activity

Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

Alternative Names

A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to "Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights".

A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to "Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights".

Associated Legislation

Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to "Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights".

Policy Areas

Labor and Employment

Potential Impact

Administrative law and regulatory procedures

Business ethics

Climate change and greenhouse gases

Congressional oversight

Department of Labor

Employee benefits and pensions

Financial services and investments

Sponsors and Supporters

Sen. Braun, Mike [R-IN]

Cosponsors and Supporters

Sen. Manchin, Joe, III [D-WV]

Sen. McConnell, Mitch [R-KY]

Sen. Thune, John [R-SD]

Sen. Barrasso, John [R-WY]

Sen. Blackburn, Marsha [R-TN]

Sen. Boozman, John [R-AR]

Sen. Budd, Ted [R-NC]

Sen. Britt, Katie Boyd [R-AL]

Sen. Cassidy, Bill [R-LA]

Sen. Capito, Shelley Moore [R-WV]

Sen. Collins, Susan M. [R-ME]

Sen. Cornyn, John [R-TX]

Sen. Cotton, Tom [R-AR]

Sen. Cramer, Kevin [R-ND]

Sen. Crapo, Mike [R-ID]

Sen. Cruz, Ted [R-TX]

Sen. Daines, Steve [R-MT]

Sen. Ernst, Joni [R-IA]

Sen. Fischer, Deb [R-NE]

Sen. Graham, Lindsey [R-SC]

Sen. Grassley, Chuck [R-IA]

Sen. Hagerty, Bill [R-TN]

Sen. Hawley, Josh [R-MO]

Sen. Hoeven, John [R-ND]

Sen. Hyde-Smith, Cindy [R-MS]

Sen. Johnson, Ron [R-WI]

Sen. Kennedy, John [R-LA]

Sen. Lankford, James [R-OK]

Sen. Lee, Mike [R-UT]

Sen. Lummis, Cynthia M. [R-WY]

Sen. Marshall, Roger [R-KS]

Sen. Moran, Jerry [R-KS]

Sen. Mullin, Markwayne [R-OK]

Sen. Murkowski, Lisa [R-AK]

Sen. Paul, Rand [R-KY]

Sen. Ricketts, Pete [R-NE]

Sen. Risch, James E. [R-ID]

Sen. Romney, Mitt [R-UT]

Sen. Rubio, Marco [R-FL]

Sen. Rounds, Mike [R-SD]

Sen. Schmitt, Eric [R-MO]

Sen. Scott, Rick [R-FL]

Sen. Scott, Tim [R-SC]

Sen. Sullivan, Dan [R-AK]

Sen. Tillis, Thomas [R-NC]

Sen. Tuberville, Tommy [R-AL]

Sen. Vance, J. D. [R-OH]

Sen. Wicker, Roger F. [R-MS]

Sen. Young, Todd [R-IN]

Committees and Subcommittees

Health, Education, Labor, and Pensions Committee

Variations and Revisions

Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to "Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights".

A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to "Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights".

2/16/2024, 9:08 PM

This joint resolution nullifies a Department of Labor rule concerning the fiduciary duties with respect to employee benefit plans.

Under the rule issued on December 1, 2022, plan fiduciaries may consider climate change and other environmen...

Congress
118

Number
SJRES - 8

Introduced on
2023-02-07

# Amendments
0

Sponsors
+5

Cosponsors
+5

Variations and Revisions

2/7/2023

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

This joint resolution nullifies a Department of Labor rule concerning the fiduciary duties with respect to employee benefit plans.

Under the rule issued on December 1, 2022, plan fiduciaries may consider climate change and other environmen...

Alternative Names
Official Title as IntroducedA joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to "Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights".

Policy Areas
Labor and Employment

Potential Impact
Administrative law and regulatory procedures•
Business ethics•
Climate change and greenhouse gases•
Congressional oversight•
Department of Labor•
Employee benefits and pensions•
Financial services and investments

Comments

Recent Activity

Latest Summary2/22/2023

This joint resolution nullifies a Department of Labor rule concerning the fiduciary duties with respect to employee benefit plans.

Under the rule issued on December 1, 2022, plan fiduciaries may consider climate change and other environmen...


Latest Action2/7/2023
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.