Hoeven, Scott Introduce Resolution to Overturn SEC Climate Disclosure Rule

WASHINGTON – Senator John Hoeven cosponsored a Congressional Review Act (CRA) resolution of disapproval, led by Senate Banking Committee Ranking Member Tim Scott (R-S.C.), today to overturn the Securities and Exchange Commission’s (SEC) radical climate disclosure rule that would unfairly target energy producers and result in hampered economic growth, increased red tape for public companies and higher prices for consumers. 

“The SEC’s climate disclosure rule is government overreach,” said Hoeven. “This CRA would block this overreaching rule and hold the SEC accountable for pushing a radical climate regulatory agenda that would hurt businesses and consumers.”

“The SEC’s final climate disclosure rule threatens economic opportunity across the country, and it must be overturned. Over and over again, SEC Chair Gensler has disregarded the real-world impacts of his aggressive regulatory agenda in his dogged pursuit of left-wing political priorities. This rule is no exception. The SEC’s mission is to regulate our capital markets and ensure all Americans can safely share in their economic success – not to force a partisan climate agenda on American businesses. This rule is federal overreach at its worst, and the SEC should stay in its lane,” said Ranking Member Scott.

In addition to Hoeven and Scott, the CRA is cosponsored by Senators Mike Crapo (R-Idaho), Mike Rounds (R-S.D.), Thom Tillis (R-N.C.), John Kennedy (R-La.), Bill Hagerty (R-Tenn.), Cynthia Lummis (R-Wyo.), J.D. Vance (R-Ohio), Katie Britt (R-Ala.), Kevin Cramer (R-N.D.), Steve Daines (R-Mont.), Mitch McConnell (R-Ky.), Chuck Grassley (R-Iowa), John Cornyn (R-Texas), John Thune (R-S.D.), John Barrasso (R-Wyo.), Jim Risch (R-Idaho), Joe Manchin (D-W.Va.), Jerry Moran (R-Kan.), John Boozman (R-Ark.), Marco Rubio (R-Fla.), Ron Johnson (R-Wis.), Deb Fischer (R-Neb.), Shelley Moore Capito (R-W.Va.), Bill Cassidy (R-La.), James Lankford (R-Okla.), Tom Cotton (R-Ark.), Dan Sullivan (R-Alaska), Cindy Hyde-Smith (R-Miss.), Rick Scott (R-Fla.), Ted Budd (R-N.C.), and Pete Ricketts (R-Neb.)