WASHINGTON – U.S. Senator Tommy Tuberville (R-AL) joined a number of his colleagues in introducing a Congressional Review Act (CRA) resolution to overturn the Securities and Exchange Commission’s (SEC) radical climate disclosure rule, which would impose excessive reporting requirements on public companies to include direct and indirect greenhouse gas emissions from energy sources in their annual financial reports. The SEC is a securities regulator, not a climate regulator, and the agency is operating without statutory authority to require these burdensome disclosures. This rule will result in a flood of paperwork, increased consumer expenses, and lower economic growth.
“Time and time again, Joe Biden has caved to woke climate activists at the expense of the American people,” said Senator Tuberville. “I will continue to fight back against this Administration’s woke climate agenda and anti-growth policies.”
Senator Tuberville was joined by U.S. Senators Tim Scott (R-SC), Mike Crapo (R-ID), Mike Rounds (R-SD), Thom Tillis (R-NC), John Kennedy (R-LA), Bill Hagerty (R-TN), Cynthia Lummis (R-WY), J.D. Vance (R-OH), Katie Britt (R-AL), Kevin Cramer (R-ND), Steve Daines (R-MT), Mitch McConnell (R-KY), Chuck Grassley (R-IA), John Cornyn (R-TX), John Thune (R-SD), John Barrasso (R-WY), Jim Risch (R-ID), Joe Manchin (D-WV), Jerry Moran (R-KS), John Boozman (R-AR), John Hoeven (R-ND), Marco Rubio (R-FL), Ron Johnson (R-WI), Deb Fischer (R-NE), Shelley Moore Capito (R-WV), Bill Cassidy (R-LA), James Lankford (R-OK), Tom Cotton (R-AR), Dan Sullivan (R-AK), Cindy Hyde-Smith (R-MS), Mike Braun (R-IN), Rick Scott (R-FL), Ted Budd (R-NC), and Pete Ricketts (R-NE) in signing the CRA.
View the full text of the resolution here.
BACKGROUND:
Under Chair Gensler, the SEC has pursued one of the most aggressive regulatory agendas in the agency’s history – with the agency on track to propose and finalize over 60 rules with limited public comment periods and inadequate cost-benefit analyses. Through rigorous congressional oversight, GOP members have been pushing back on the widespread impact and confusion created by the agency’s proposed rules on our capital markets, American retirement savers, and businesses of all sizes.
Senator Tuberville has joined his colleagues in exercising congressional oversight over the administration’s radical climate agenda that would impose severe economic burdens on hard-working Americans.
Last week, the Senate passed a Tuberville-backed resolution to overturn Biden’s greenhouse gas (GHG) emissions performance measure rule that would be imposed on State Departments of Transportation and Metropolitan Planning Organizations (MPOs). This rule would have disastrous impacts for rural states, like Alabama.
In February, Senator Tuberville joined a disapproval resolution under the CRA to block the Biden Department of Energy’s final rule on gas furnace efficiency standards. The rule would force Americans to either purchase electric heat pumps or pay thousands of dollars to renovate their homes to meet new standards.
In January, Senator Tuberville sent a letter, along with 113 congressional colleagues, to the U.S. National Highway Traffic Safety Administration (NHTSA) calling for the withdrawal of the Biden administration’s proposed Corporate Average Fuel Economy (CAFÉ) standards for passenger cars and light-duty trucks.
Senator Tuberville also helped introduce the Protect Farmers from the SEC Act to exempt family farmers from SEC requirements to report all operational Scope 3 GHG emissions.
Senator Tommy Tuberville represents Alabama in the United States Senate and is a member of the Senate Armed Services, Agriculture, Veterans’ Affairs, and HELP Committees.
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