First in Punchbowl News: Senators led by Sen. Tim Scott (R-S.C.) will introduce a Congressional Review Act challenge today to the Securities and Exchange Commission’s climate disclosure rule.
Two things of note: Support for this measure from Sen. Joe Manchin (D-W.Va.) makes it bipartisan. And with more than 34 co-sponsors altogether, the resolution has enough support to be brought to the floor without a committee vote.
Otherwise, Senate Banking Committee Chair Sherrod Brown (D-Ohio) and his Democratic majority would almost certainly be able to block the measure.
In a statement, Scott said the SEC’s climate disclosure rule — which has already been frozen by the agency in the face of significant legal opposition — “is federal overreach at its worst, and the SEC should stay in its lane.”
Republican supporters for this CRA include every GOP member of the Senate Banking Committee as well as Minority Leader Mitch McConnell, Sens. Chuck Grassley (Iowa), John Cornyn (Texas), John Thune (S.D.), John Barrasso (Wyo.), Jim Risch (Idaho), Jerry Moran (Kan.), John Boozman (Ark.), Marco Rubio (Fla.), Ron Johnson (Wis.), Deb Fischer (Neb.), Bill Cassidy (La.) and more.
— Brendan Pedersen
