Manchin joins Tim Scott res­o­lu­tion to over­turn new SEC cli­mate dis­clo­sure rule

Manchin joins Tim Scott resolution to overturn new SEC climate disclosure rule

Sen. Tim Scott (R‑SC) launched an effort Wednes­day to over­turn the Secu­ri­ties and Exchange Commission’s cli­mate dis­clo­sure rule with the help of a key Demo­c­rat.
Scott, who is the rank­ing mem­ber of the Bank­ing Com­mit­tee, intro­duced the Con­gres­sion­al Review Act res­o­lu­tion after pre­vi­ous­ly announc­ing he would chal­lenge the rule. The Con­gres­sion­al Review Act allows Con­gress to vote down admin­is­tra­tive rules through an expe­dit­ed process.
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 mid-sized com­pa­nies to report green­house gas emis­sions, reports that would be audit­ed by an out­side par­ty.
Scott’s 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 …