Republican lawmakers, who will be in the House majority come January, are pressing party leaders to send a message to big financial firms: Stop appeasing the left with “woke” business practices, keep financing fossil fuels and cut ties with China.
Wall Street loves Republican tax cuts and deregulation. It’s going to hate the GOP’s plans for 2023.
“My members are intent on sending a message that you can’t kowtow to a far-left agenda and still have Republicans fighting the good fight on behalf of free markets and a marketplace that would benefit these companies,” Rep.said in an interviewThe pledges mark a stunning turn by the traditional party of big business.
Antagonism toward big banks and investment managers has been building on the right for years, as the firms tried to distance themselves from firearms financing in the wake of mass shootings and adopted sweeping promises to help fight climate change.
The companies Barr named declined or did not respond to requests for comment. Amid scrutiny of their influence on corporate America, BlackRock and Vanguard have announced plans to give their clients the ability to vote on the policies of the companies in which they invest.
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