Central ND News

U.S. Senator Kevin Cramer (R-ND) has taken a stand against the Securities and Exchange Commission's (SEC) Climate Disclosure Rule, calling it an overreach of authority and a hindrance to American businesses. In a statement, Senator Cramer emphasized that the SEC should not be involved in regulating greenhouse gas emissions data, stating, “Under no circumstance should the SEC be concerned about direct or indirect emissions data because Congress never gave them this authority.”

Joining Senator Cramer in the effort to nullify the SEC's Climate Disclosure Rule is Ranking Member Tim Scott (R-SC), who expressed concerns about the economic impact of the rule, saying, “The SEC’s final climate disclosure rule threatens economic opportunity across the country, and it must be overturned.” Scott criticized SEC Chair Gensler for prioritizing a partisan climate agenda over the well-being of American businesses.

The legislation to overturn the SEC's rule has garnered support from various organizations, including Heritage Action for America, Americans for Tax Reform, American Energy Alliance, Americans for Prosperity, and the American Petroleum Institute.

A long list of cosponsors has joined Senators Cramer and Scott in the resolution, demonstrating widespread opposition to the SEC's Climate Disclosure Rule. The cosponsors include prominent figures such as Senator John Barrasso, Senator Marco Rubio, and Senator Joe Manchin, among others.

Senator Cramer's efforts to challenge the SEC's rule date back to January when he, along with Senator Capito, expressed disapproval of the rule's negative impacts on domestic energy producers and energy prices. In April 2022, Senator Cramer led his colleagues in urging the SEC to withdraw the proposed rule.

The resolution introduced by Senators Cramer and Scott aims to protect small business owners and stakeholders from what they perceive as burdensome regulations and to preserve the integrity of U.S. capital markets. The bill text for the legislation can be accessed for further details.