Bipartisan Effort to Overturn SEC Climate Rule Gains Momentum

Senator Tim Scott, backed by Democrat Joe Manchin, introduces a resolution to challenge the SEC's new climate disclosure requirements.

Senators Tim Scott and Joe Manchin co-sponsor a resolution to overturn the SEC's climate disclosure rule, citing concerns of federal overreach.
The rule, which mandates companies to report their greenhouse gas emissions, has been paused due to legal challenges from both political sides.
The resolution employs the Congressional Review Act, aiming for a quick legislative reversal of the SEC's decision.
The controversial rule has faced criticism for potentially stifling economic growth and exceeding the SEC's regulatory authority.
Despite bipartisan support in the Senate, the resolution faces a potential veto from President Biden.