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
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