INFLATION: Cut Regulations & Spending to Bring Down Prices

Description: "Sec. 2. Immediate Review of Agency Actions Taken Between January 20, 2017, and January 20, 2021. (a) The heads of all agencies shall immediately review all existing regulations, orders, guidance documents, policies, and any other similar agency actions (agency actions) promulgated, issued, or adopted between January 20, 2017, and January 20, 2021, that are or may be inconsistent with, or present obstacles to, the policy set forth in section 1 of this order. For any such actions identified by the agencies, the heads of agencies shall, as appropriate and consistent with applicable law, consider suspending, revising, or rescinding the agency actions." (Biden-Harris Admin reversed Trump's deregulation policies on their first day in office 1/20/2021.)

Source: White House Website

Link: https://www.whitehouse.gov/briefing-room/presidential-actions/2021/01/20/executive-order-protecting-public-health-and-environment-and-restoring-science-to-tackle-climate-crisis/

Description: The Biden-Harris Admin revoked the Keystone XL Pipeline on Jan. 20, 2021. "Sec. 6. Revoking the March 2019 Permit for the Keystone XL Pipeline."

Source: White House Website

Link: https://www.whitehouse.gov/briefing-room/presidential-actions/2021/01/20/executive-order-protecting-public-health-and-environment-and-restoring-science-to-tackle-climate-crisis/

Description: This rule authorizes fiduciaries to consider nonfinancial factors when administering trust assets, likely leading many to focus on advancing an ESG (Environmental, Social, and Governance) agenda instead of achieving long-term financial stability for their clients. It violates both the Employee Retirement Income Security Act of 1974 (“ERISA”), which was created to protect retirement assets, and the Administrative Procedure Act.

Source: U.S. Department of Labor Blog

Link: https://blog.dol.gov/2022/11/22/allowing-esg-factors-in-retirement-plan-investments