The Senate Friday gave its thumbs up to a Resolution to Nullify a SEC Rule requiring Oil, Gas, and Mining companies to Reveal their Payments to Foreign Governments.
It was the second time this week Lawmakers sent President Trump a Congressional Review Act Resolution undoing an Obama Administration Regulation. He is expected to sign it.
The final vote was 52-47 along strict Party lines. That was narrower than yesterday's Vote to kill an Interior Department Coal Mining Rule, in which four Democrats sided with the Majority.
The SEC Rule was meant to fight Corruption and had Bipartisan roots, former Sen. Dick Lugar (R-Ind.) Co-Authored an Amendment to the Dodd-Frank Wall Street Reform Law requiring it. But critics complained it put U.S. Companies at a Competitive Disadvantage. Then-Exxon Mobil CEO Rex Tillerson, who was sworn in as Secretary of State this week, personally lobbied against it when the 2010 Law was being drafted.
Oil companies and other Opponents convinced a Federal Judge to toss out the first Version of the Rule in 2013, forcing the Obama Administration to start over.
The SEC issued a New Rule last June, subjecting it to the Review Act, which allows Congress to block recently enacted Regulations with Resolutions that cannot be Filibustered in the Senate.
The House is teeing up even more Resolutions under the Law, including a Vote today to block an Interior Department Rule limiting Methane Emissions from Oil and Gas drilling on Public Land.
The law had only been successfully used once before this week to kill a Clinton-era Labor Department Ergonomics rule in 2001.
NYC Wins When Everyone Can Vote! Michael H. Drucker
No comments:
Post a Comment