{"id":4405,"date":"2023-06-15T09:48:08","date_gmt":"2023-06-15T13:48:08","guid":{"rendered":"https:\/\/greatamericanewsdesk.com\/?p=4405"},"modified":"2023-06-15T09:48:08","modified_gmt":"2023-06-15T13:48:08","slug":"cruz-drops-bombshell-bill-to-stop-scheme-that-uses-taxpayer-funds-to-push-companies-into-woke-socialism","status":"publish","type":"post","link":"https:\/\/greatamericanewsdesk.com\/opinion\/cruz-drops-bombshell-bill-to-stop-scheme-that-uses-taxpayer-funds-to-push-companies-into-woke-socialism\/dferguson\/2023\/06\/","title":{"rendered":"Cruz Drops Bombshell Bill to Stop Scheme That Uses Taxpayer Funds to Push Companies into Woke Socialism"},"content":{"rendered":"\n<p>The federal government could no longer use taxpayer-funded retirement accounts to push companies to adopt leftist political policies, under a new bill from U.S. Sen. <a href=\"https:\/\/greatamericanewsdesk.com\/?s=Ted+Cruz\" target=\"_blank\" rel=\"noreferrer noopener\">Ted Cruz<\/a>.<\/p>\n\n\n\n<p>The move counters a recent strategy by leftist radicals to gain control over the voting shares of publicly-held corporations, then vote in radical leftist policies that push \u201cwoke\u201d social goals and divert billions in cash to activist groups.<\/p>\n\n\n\n<p>One of the biggest shareholders in many corporations are retirement funds held by and managed for federal employees by BlackRock, a far-left, multinational hedge fund.<\/p>\n\n\n\n<p>Cruz has introduced the Stop TSP ESG Act, which \u201cwill prevent companies that manage investment funds held in federal employee retirement accounts from using those holdings to vote in corporate shareholder meetings to force leftist Environmental, Social, Governance (ESG) and Diversity, Equity, and Inclusion (DEI) policies onto private sector businesses.\u201d<\/p>\n\n\n\n<p>Sen. <a href=\"https:\/\/greatamericanewsdesk.com\/?s=Eric+Schmitt\" target=\"_blank\" rel=\"noreferrer noopener\">Eric Schmitt<\/a> (R-Mo.) is co-sponsoring the bill in the Senate.\u00a0<\/p>\n\n\n\n<p>Rep. <a href=\"https:\/\/greatamericanewsdesk.com\/?s=Ken+Buck\" target=\"_blank\" rel=\"noreferrer noopener\">Ken Buck<\/a> (R-Colo.) previously introduced companion legislation in the U.S. House of Representatives.<\/p>\n\n\n\n<p>\u201cBlackRock is able to leverage its position as the fund manager to vote in shareholder meetings and to force publicly traded companies to adopt ESG and DEI policies, even if doing so adversely affects investor value. As such, BlackRock prioritizes its political agenda over the interests of employees and retirees who are seeking to maximize their return on investment,\u201d a statement from Cruz\u2019s office reads.<\/p>\n\n\n\n<p>&nbsp;\u201cI am proud to join Congressman Buck and sponsor this legislation in the Senate to hold investment fund managers accountable and ensure they do not misuse their position as a fiduciary to advance an agenda contrary to the interests of their investors,\u201d said Cruz.<\/p>\n\n\n\n<p>\u201cAs the managing entity of TSP, BlackRock is leveraging the financial weight of the federal retirement system to push their woke ESG and DEI ideology through other peoples\u2019 investments. BlackRock\u2019s manipulation and brazen politicization of federal retirement accounts is wrong and should not be tolerated,\u201d said Cruz.<\/p>\n\n\n\n<p>\u201cFor years, BlackRock has been leveraging taxpayer money to force unwilling businesses to accept ESG and DEI policies. Through its position as the manager of the federal Thrift Savings Plan, BlackRock has abused public capital to push a radical agenda and censor conservative media,\u201d said Buck.<\/p>\n\n\n\n<p>&nbsp;\u201cWoke Wall Street has been using the federal Thrift Savings Plan to force a radical left-wing agenda on the country. That\u2019s a violation of their fiduciary duty and the basic precepts of democracy. Policy should be made in Congress, not BlackRock\u2019s C-Suite,\u201d said Will Hild, Executive Director at Consumers\u2019 Research.<\/p>\n\n\n\n<p>\u201cThe Stop TSP ESG Act is an important step in stopping the radical ESG agenda by protecting TSP account holders. BlackRock CEO Larry Fink admits to \u2018forcing behaviors.\u2019 Shareholders may be unknowingly supporting companies that disparage their values as proxy voting decisions are made by these radicals. Thank you, Rep. Buck, for introducing this legislation,\u201d said Penny Nance, CEO and President of Concerned Women for America Legislative Action Committee.<\/p>\n\n\n\n<p><strong><em>Opinions expressed by contributors do not necessarily reflect the views of Great America News Desk.<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The federal government could no longer use taxpayer-funded retirement accounts to push companies to adopt leftist political policies, under a new bill from U.S. Sen. Ted Cruz. The move counters a recent strategy by leftist radicals to gain control over the voting shares of publicly-held corporations, then vote in radical leftist policies that push \u201cwoke\u201d [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":4406,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[247],"tags":[710,181,183,709],"class_list":["post-4405","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opinion","tag-eric-schmitt","tag-opinion","tag-socialism","tag-ted-cruz"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cruz Drops Bombshell Bill to Stop Scheme That Uses Taxpayer Funds to Push Companies into Woke Socialism - Great America News Desk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/greatamericanewsdesk.com\/opinion\/cruz-drops-bombshell-bill-to-stop-scheme-that-uses-taxpayer-funds-to-push-companies-into-woke-socialism\/dferguson\/2023\/06\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cruz Drops Bombshell Bill to Stop Scheme That Uses Taxpayer Funds to Push Companies into Woke Socialism - Great America News Desk\" \/>\n<meta property=\"og:description\" content=\"The federal government could no longer use taxpayer-funded retirement accounts to push companies to adopt leftist political policies, under a new bill from U.S. Sen. 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