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House Republicans call on Biden admin to rescind 'dangerous,' potentially unconstitutional energy proposal
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FIRST ON FOX: A group of 22 House Financial Services Committee Republicans penned a letter to the Biden administration Friday, urging it to rescind a potentially unconstitutional environmental rule targeting Wall Street.
The GOP lawmakers, led by Rep. John Rose, R-Tenn., warned Securities and Exchange Commission (SEC) Chairman Gary Gensler that the proposal, which the commission unveiled earlier this year, is unconstitutional in light of a recent Supreme Court decision. In March, the SEC voted along party lines to advance a rule requiring private corporations to disclose carbon emissions data and other climate information.
"Chair Gensler and President Biden’s desire to transform our entire economy through administrative action by an unelected commission is unwise, and even dangerous," Rose said in a statement shared with FOX Business. "The SEC should immediately reverse course on this ill-advised proposal to save taxpayer dollars on fighting this in court."
"If they choose not to, they will be in direct violation of the U.S. Constitution and again prove they have no desire to seriously govern within the parameters of the laws of our country," he continued.
SEC WANTS MORE CLIMATE DISCLOSURES. BUSINESSES ARE PREPARING FOR A FIGHT.