{"id":2223110,"date":"2024-04-17T11:16:02","date_gmt":"2024-04-17T15:16:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/manchin-joins-tim-scott-resolution-to-overturn-new-sec-climate-disclosure-rule\/"},"modified":"2024-04-17T11:18:34","modified_gmt":"2024-04-17T15:18:34","slug":"manchin-joins-tim-scott-resolution-to-overturn-new-sec-climate-disclosure-rule","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/manchin-joins-tim-scott-resolution-to-overturn-new-sec-climate-disclosure-rule\/","title":{"rendered":"Manchin teams up with Tim Scott to revoke new SEC climate rule"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fmanchin-joins-tim-scott-resolution-to-overturn-new-sec-climate-disclosure-rule%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2223110&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Senator Tim Scott (R-SC) recently led an effort to reverse the SEC&#8217;s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/exclusive-gop-calls-out-bidens-attempt-to-impose-a-green-new-deal-through-wall-street-regulation\/\" title=\"EXCLUSIVE: GOP Calls Out Biden\u2019s Attempt To Impose A \u2018Green New Deal\u2019 Through Wall Street Regulation\">climate disclosure rule<\/a> with bipartisan support. As the ranking member \u2063of \u2063the \u2064Banking Committee, Scott introduced a Congressional Review Act resolution to challenge the rule swiftly. The rule mandates companies to disclose environmental impact details to investors and has sparked debate. Scott&#8217;s\u2062 resolution already\u200b has significant support.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<div>\n<p>Sen. <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/tim-scott\/\" target=\"_blank\" rel=\"noopener\" title>Tim Scott<\/a> (R-SC) launched an effort Wednesday to overturn the Securities and Exchange Commission\u2019s <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/tim-scott\/\" target=\"_blank\" rel=\"noopener\" title>climate disclosure rule<\/a> with the help of a key Democrat.<\/p>\n<p>Scott, who is the ranking member of the <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/senate-banking-committee\" target=\"_blank\" rel=\"noreferrer noopener\">Banking Committee<\/a>, introduced the Congressional Review Act resolution after previously announcing he <a href=\"https:\/\/www.washingtonexaminer.com\/policy\/finance-and-economy\/2906413\/tim-scott-to-force-vote-to-overturn-new-sec-climate-disclosure-rule\/\" target=\"_blank\" rel=\"noopener\" title>would challenge<\/a> the rule. The Congressional Review Act allows Congress to vote down administrative rules through an expedited process.<\/p>\n<p>The SEC voted 3-2 to adopt the controversial rule, which sets requirements for how and what companies must report to investors about how their operations affect the climate. It requires large and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/a-few-cheers-many-worries-among-us-businesses-facing-covid-19-vaccine-test-mandate\/\" title=\"A Few Cheers, Many Worries Among US Businesses Facing COVID-19 Vaccine, Test Mandate\">mid-sized companies<\/a> to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sec-pauses-extremist-climate-mandate-after-challenge-from-republican-attorneys-general\/\" title=\"SEC Halts 'Extremist Climate Mandate' Amid GOP AG Challenge\">report greenhouse gas emissions<\/a>, reports that would be audited by an outside party.<\/p>\n<p>Scott\u2019s resolution has 34 co-sponsors, including one Democrat, Sen. Joe Manchin (D-WV). That is more than enough needed for a discharge petition and gives the legislation bipartisan backing, making it more likely to make its way to President Joe Biden\u2019s desk.<\/p>\n<p>In a statement, Scott said the SEC rule is \u201cfederal overreach at its worst.\u201d<\/p>\n<p>\u201cThe SEC\u2019s final climate disclosure rule threatens economic opportunity across the country, and it must be overturned,\u201d the South Carolina senator said. \u201cOver 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.\u201d<\/p>\n<p>The Congressional Review Act allows for resolutions to be brought to the floor of the Senate through an expedited process, meaning that it could not be stopped by Senate Majority Leader Chuck Schumer (D-NY). The success of the vote would hinge on Democratic centrists like Manchin and Kyrsten Sinema (I-AZ). The vote would almost certainly be approved by the House, which is controlled by Republicans.<\/p>\n<p>If the resolution gets pushed through Congress, Biden is likely to veto it as he has with other Congressional Review Act resolutions narrowly approved by the Senate.<\/p>\n<p>While still controversial, the new SEC climate rule is significantly scaled down from a proposed version by omitting a requirement that corporations disclose emissions generated by suppliers and customers.<\/p>\n<p><a href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER<\/strong><\/a><\/p>\n<p>Republicans have been highly critical of rulemaking under Biden, arguing that his administration is using the process to circumvent the legislative process.<\/p>\n<p>\u201cThe SEC\u2019s 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,\u201d Scott said.<\/p>\n<\/p><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Senator Tim Scott (R-SC) initiated action on Wednesday to reverse the Securities and Exchange Commission&#8217;s climate disclosure rule alongside a crucial Democrat. Serving as the ranking member of the Banking Committee, Scott introduced a Congressional Review Act resolution following his intent to contest the rule. The Congressional Review Act facilitates Congress in<\/p>\n","protected":false},"author":2683,"featured_media":2223111,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/wex-s3.s3.us-east-1.amazonaws.com\/wp-content\/uploads\/2024\/04\/tim-scott-1024x591.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[],"class_list":["post-2223110","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"fifu_image_url":"https:\/\/wex-s3.s3.us-east-1.amazonaws.com\/wp-content\/uploads\/2024\/04\/tim-scott-1024x591.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2223110","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2683"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2223110"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2223110\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2223111"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2223110"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2223110"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2223110"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}