Overview

• 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.