SEC's reckless climate proposal will be disastrous for economy and investors
Steve Forbes: Far-left still ‘calling the tune’
Forbes Media Chairman Steve Forbes on GOP lawmakers’ stance on abortion, Biden’s credibility and the state of the U.S. economy.
While the U.S. Supreme Court's recent decision on Roe v. Wade has garnered massive media and public attention, another recent action by the court could have significant positive impact for the future of the American economy.
The court recently ruled that the Environment Protection Agency lacks the legal authority to regulate greenhouse gases outside its congressional mandate.
Regulatory overreach has become chronic and highly damaging. These agencies have imposed costly rules based on the flimsiest of pretext but have the force of law. Now these commissions must first have explicit authority from Congress before making a major move. In this instance, the EPA was shutting down electricity generating plants that relied on fossil fuels.
AG Patrick Morrisey leads effort to challenge the EPA’s authority
West Virginia Attorney General Patrick Morrisey says state representatives deserve a ‘seat at the table’ in deciding climate policy.
West Virginia Attorney General Patrick Morrisey – who spearheaded the legal challenge – applauded the ruling. But Morrisey has beefs with other federal agencies and their mission creep to advance a damaging climate agenda. That’s why he is leading the fight against a brazen, power-grabbing effort by the Securities and Exchange Commission (SEC) to force companies to calculate their own greenhouse gas emissions and – get this – those of their suppliers and vendors.
BUSINESSES BATTLING OUT-OF-CONTROL FTC AND WRATH OF COMMISSION HEAD KHAN
Morrisey and leaders from 23 other states have authored a comment letter arguing that the SEC rule is not only overly burdensome, but casts the SEC into the utterly inappropriate role of climate regulator.
To be clear, SEC Chairman Gary Gensler has serious ambitions, for bigger things – the White House someday? – meaning he’d like nothing more than to make his mark in the climate change fight, a central focus of the Biden administration and the voting left. The problem? Gensler’s proposed rule would impose huge burdens of time and money on American businesses, particularly smaller ones, endangering our return from the current malaise.