• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

The pig in the python: Baby Boomers are strangling the economy they built by refusing to move or retire

2

The U.S. campaigned to host the World Cup. Now soccer fans will trade their countries' train system for the U.S.'s 'D' rated infrastructure

3

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year

1

The pig in the python: Baby Boomers are strangling the economy they built by refusing to move or retire

2

The U.S. campaigned to host the World Cup. Now soccer fans will trade their countries' train system for the U.S.'s 'D' rated infrastructure

3

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year
PoliticsJoe Biden

Joe Biden issues his first veto in a prelude to future battles with the newly Republican-controlled House

By
Zeke Miller
Zeke Miller
,
Seung Min Kim
Seung Min Kim
, and
The Associated Press
The Associated Press
Down Arrow Button Icon
By
Zeke Miller
Zeke Miller
,
Seung Min Kim
Seung Min Kim
, and
The Associated Press
The Associated Press
Down Arrow Button Icon
March 20, 2023, 4:57 PM ET
President Joe Biden.
President Joe Biden.RICHARD PIERRIN/AFP via Getty Images

President Joe Biden issued the first veto of his presidency Monday in an early sign of shifting White House relations with the new Congress since Republicans took control of the House in January — a move that serves as a prelude to bigger battles with GOP lawmakers on government spending and the nation’s debt limit.

Biden sought to kill a Republican-authored measure that would ban the government from considering environmental impacts or potential lawsuits when making investment decisions for people’s retirement plans. In a video released by the White House, Biden said he vetoed the measure because it “put at risk the retirement savings of individuals across the country.”

His first veto represents a more confrontational approach at the midway of Biden’s term in office, as he faces a GOP-controlled House that is eager to undo parts of his policy legacy and investigate his administration and his family. Complicating matters for Biden, several Democratic senators are up for re-election next year in conservative states, giving them political incentive to put some distance between them and the White House.

The measure vetoed by Biden ended would have effectively reinstated a Trump-era ban on federal managers of retirement plans considering factors such as climate change, social impacts or pending lawsuits when making investment choices.

The veto could also help calm some anger from environmentalists who have been upset with the Biden administration for its recent decision to greenlight the Willow oil project, a massive and contentious drilling project in Alaska.

“The president vetoed the bill because it jeopardizes the hard-earned life savings of cops, firefighters, teachers, and other workers,” White House spokesperson Robyn Patterson said.

But critics say so-called environmental, social and governance investments allocate money based on political agendas, such as a drive against climate change, rather than on earning the best returns for savers. Republicans in Congress who pushed the measure said environmental or social considerations in investments by the government are just another example of being “woke.”

“In his first veto, Biden just sided with woke Wall Street over workers,” House Speaker Kevin McCarthy, R-Calif., tweeted on Monday. “Tells you exactly where his priorities lie.” He said “it’s clear Biden wants Wall Street to use your retirement savings to fund his far-left political causes.”

Biden’s veto is likely to prevail. Just three Democrats in Congress — one in the House, and two in the Senate — supported Republicans in the matter, making it unlikely a two-thirds majority in both chambers could be assembled to overcome Biden’s veto.

Rep. Jared Golden, D-Maine, was the sole Democrat to back the resolution in the House, while Sens. Jon Tester, D-Mont., and Joe Manchin, D-W.Va., supported it in the Senate. Golden is a perennial target of Republicans seeking to oust him from his conservative district, while Tester and Manchin are both up for re-election next year.

“This administration continues to prioritize their radical policy agenda over the economic, energy and national security needs of our country, and it is absolutely infuriating,” Manchin said in a statement.

Though Biden swiftly vetoed the investment resolution, other measures coming from Capitol Hill in the weeks and months ahead could be a tougher call for the White House.

The administration initially signaled that Biden would reject a Republican-authored measure that would override a crime measure passed by the District of Columbia Council, but the president later said he would sign it. The White House has also yet to indicate what Biden will do with a measure — passed unanimously in both chambers of Congress — that would declassify U.S. intelligence information about the origins of COVID-19.

Biden’s immediate predecessor, Donald Trump, vetoed 10 bills during his term in office, while Barack Obama vetoed 12, according to the the American Presidency Project at the University of California, Santa Barbara. Both had one of their vetoes overridden by Congress.

The president with the most vetoes was Franklin Delano Roosevelt — who was elected to four terms before a constitutional amendment limited all presidents to two — with 635 vetoes. Six U.S. presidents never vetoed any legislation in office.

Subscribe to Well Adjusted, our newsletter full of simple strategies to work smarter and live better, from the Fortune Well team. Sign up today.
About the Authors
By Zeke Miller
See full bioRight Arrow Button Icon
By Seung Min Kim
See full bioRight Arrow Button Icon
By The Associated Press
See full bioRight Arrow Button Icon

Latest in Politics

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Politics

g
PoliticsElections
Democrats want to run on corruption. Their own stock trades keep getting in the way
By Matt Brown and The Associated PressMay 25, 2026
16 hours ago
c
PoliticsElections
Trump called Cornyn ‘very disloyal.’ Now a 5-term Texas Senator is fighting for his career
By Thomas Beaumont and The Associated PressMay 25, 2026
16 hours ago
Antonio Gracias, founder, chief executive officer and chief investment officer of Valor Equity Partners
InvestingSpaceX
Elon Musk’s best friend could make more than $100 billion from SpaceX’s IPO. His firm is also owed billions by SpaceX
By Eva RoytburgMay 25, 2026
20 hours ago
Trump says ‘don’t listen to the losers’ after fellow Republicans warn he’s about to make a disastrous mistake with Iran ceasefire deal
PoliticsIran
Trump says ‘don’t listen to the losers’ after fellow Republicans warn he’s about to make a disastrous mistake with Iran ceasefire deal
By Darlene Superville, Matthew Daly and The Associated PressMay 24, 2026
2 days ago
The more generous U.S. ceasefire terms are, the more suspicious Iran becomes they’re a ruse for another attack, expert says
PoliticsIran
The more generous U.S. ceasefire terms are, the more suspicious Iran becomes they’re a ruse for another attack, expert says
By Jason MaMay 24, 2026
2 days ago
w
Personal FinanceWhite House
From Hobbes to the 14th amendment: the ancient and modern cases against Trump’s $1.8 billion fund
By Austin Sarat and The ConversationMay 24, 2026
2 days ago

Most Popular

The pig in the python: Baby Boomers are strangling the economy they built by refusing to move or retire
Economy
The pig in the python: Baby Boomers are strangling the economy they built by refusing to move or retire
By Nick LichtenbergMay 25, 2026
1 day ago
The U.S. campaigned to host the World Cup. Now soccer fans will trade their countries' train system for the U.S.'s 'D' rated infrastructure
Travel & Leisure
The U.S. campaigned to host the World Cup. Now soccer fans will trade their countries' train system for the U.S.'s 'D' rated infrastructure
By Catherina GioinoMay 25, 2026
21 hours ago
Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year
Success
Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year
By Preston ForeMay 21, 2026
5 days ago
Elon Musk's best friend could make more than $100 billion from SpaceX's IPO. His firm is also owed billions by SpaceX
Investing
Elon Musk's best friend could make more than $100 billion from SpaceX's IPO. His firm is also owed billions by SpaceX
By Eva RoytburgMay 25, 2026
20 hours ago
A billionaire and an A-list actor found refuge in a 37-home Florida neighborhood with armed guards—proof that privacy is now the ultimate luxury
Real Estate
A billionaire and an A-list actor found refuge in a 37-home Florida neighborhood with armed guards—proof that privacy is now the ultimate luxury
By Marco Quiroz-GutierrezMay 25, 2026
21 hours ago
Uber CEO says rideshare 'freed up' his son from having to get a driver’s license—and he's one of many Gen Zers who aren’t willing to drive
Lifestyle
Uber CEO says rideshare 'freed up' his son from having to get a driver’s license—and he's one of many Gen Zers who aren’t willing to drive
By Sasha RogelbergMay 24, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.