Senate Republicans introduce resolution that targets SEC’s controversial climate-disclosure rules

Senate Republicans have introduced a resolution to overturn the Securities and Exchange Commission’s recently finalized climate disclosure rules.

“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,” resolution sponsor Sen. Tim Scott, R-S.C., said in introducing the measure Wednesday.

Scott is joined by 32 Republicans and West Virginia Democrat Sen. Joe Manchin.

The Fifth Circuit Court of Appeals in March blocked the rule while it’s facing legal challenges from Liberty Energy, an oil and gas company, and Nomad Proppant Services, an oilfield service company.

The rule has also faced legal challenges from 25 Republican state attorney generals. The SEC has said it won’t implement the rule, pending judicial review.

The resolution will be introduced under the Congressional Review Act, which allows Congress to block finalized federal regulations.