On February 26th, the House considered two relatively inconsequential measures:  H. Res. 132 — “Responding to the earthquakes in Türkiye and Syria on February 6, 2023” and  H.R. 538 — “To require the disclosure of a camera or recording capability in certain internet-connected devices.” On one of them, H.R 538, twelve Republicans voted no, enough to sink a bill lacking bipartisan support.

Speaker McCarthy got the message: the next day the House considered two partisan bills,  H.J. Res. 30 — “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” and H.R. 347 — “To require the Executive Office of the President to provide an inflation estimate with respect to Executive orders with a significant effect on the annual gross budget, and for other purposes.” These were evidently intended to woo dissident Republicans. On H.J. Res. 30, every Republican voted Aye.

H.J. Res. 30

Here is the CRS Summary of H.J. Res. 30:

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 environmental, social, and governance factors when they make investment decisions and when they exercise shareholder rights, including voting on shareholder resolutions and board nominations.

Here is how Rep. Tenney’s explains her vote:

I voted “Yes” on H.J. Res. 30, 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”. This resolution will nullify the Biden administration’s radical ESG rule. This rule fundamentally undermines the fiduciary responsibility of employer-sponsored retirement plans and traditional pensions, which should be to put our seniors and retirees’ interests first. The rule allows private sector employee benefit plans and pensions to prioritize climate change and other far-left priorities over increasing the returns for beneficiaries. Further, as numerous single and multi-employer pensions continue to struggle with solvency issues, this rule allows plan managers to de-prioritize returns to further their leftist political priorities, increasing the risk of future insolvency. Our seniors and those nearing retirement deserve fiduciaries that act in their best financial interests and who are not preoccupied with furthering their personal political beliefs. This rule violates this critical principle. This resolution passed the House of Representatives by a vote of 216-204.

The Senate approved H.J. Res. 30 50-46; President Biden promises a veto.

H.R. 347

Here is the CRS Summary of H.R. 347 (Prior to Amendments):

This bill requires the Office of Management and Budget and the Council of Economic Advisers to provide an inflation estimate for each executive order that is projected to cause an annual gross budgetary effect of at least $1 billion.

The estimate must determine whether the executive order will have

• no significant impact on inflation,
• a quantifiable inflationary impact on the consumer price index, or
• a significant impact on inflation that cannot be quantified at the time the estimate is prepared.

The requirement does not apply to executive orders that (1) provide for emergency assistance or relief at the request of any state or local government or an official of the government, or (2) are necessary for national security or the ratification or implementation of international treaty obligations.

Reams of data on the economy are already available to congress; the Congressional Budget Office publishes a recurring report, The Budget and Economic Outlook, which is generally issued each winter and updated in March and August.. Clearly the report required by H.R. 347 is intended to embarrass the Biden Administration, nothing more.

H.R. 347 (as amended) passed the House on March 1 272 – 148 (Roll no. 131) with four dissident Republicans opposed. Some may have been miffed that their amendments were defeated.

Clearly Speaker McCarthy needs those twelve votes for any must-pass legislation, and as with his election as Speaker. The vote on H.R. 347 suggests it won’t be easy to get them.