No ESG at TSP Act

Hozzl · 2024-03-13T00:16:45Z

Explore the details of Senate Bill 2147 No ESG at TSP Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Government Operations and Politics. Stay informed on legislative developments.

3/13/2024, 12:16 AM

Summary of Bill S 2147

Bill 118 s 2147, also known as the No ESG at TSP Act, is a piece of legislation currently being considered by the US Congress. The bill aims to prohibit the investment of funds from the Thrift Savings Plan (TSP) in companies that engage in activities related to environmental, social, and governance (ESG) issues.

If passed, the bill would require the Federal Retirement Thrift Investment Board to ensure that TSP funds are not invested in companies that prioritize ESG factors in their decision-making processes. Supporters of the bill argue that investing in companies that prioritize ESG factors could potentially harm the financial returns of TSP participants.

Opponents of the bill, however, argue that ESG factors are important considerations for long-term financial sustainability and that excluding companies based on these factors could limit investment opportunities and potentially harm the overall performance of the TSP. Overall, the No ESG at TSP Act is a controversial piece of legislation that highlights the ongoing debate surrounding the role of ESG factors in investment decisions. It remains to be seen whether the bill will ultimately be passed into law.

Congressional Summary of S 2147

No ESG at TSP Act

This bill prohibits investments under the Thrift Savings Plan in mutual funds that are based on environmental criteria (e.g., emissions standards), social criteria (e.g., company diversity), political criteria (e.g., political affiliations), or corporate governance criteria that differ from the standards that currently apply under law.

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Current Status of Bill S 2147

Bill S 2147 is currently in the status of Bill Introduced since June 22, 2023. Bill S 2147 was introduced during Congress 118 and was introduced to the Senate on June 22, 2023. Bill S 2147's most recent activity was Read twice and referred to the Committee on Homeland Security and Governmental Affairs. as of June 22, 2023

Bipartisan Support of Bill S 2147

Total Number of Sponsors

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Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

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Policy Area and Potential Impact of Bill S 2147

Primary Policy Focus

Government Operations and Politics

Alternate Title(s) of Bill S 2147

No ESG at TSP Act

A bill to amend title 5, United States Code, to prohibit investments under the Thrift Savings Plan in certain mutual funds that make investment decisions based primarily on environmental, social, or governance criteria, and for other purposes.