Republicans to kill US rules on corruption, environment, labor and guns next week [View all]
Source: Reuters
25 JAN 2017 AT 12:55 ET
Congressional Republicans are set to overturn a slew of Obama-era regulations next week, including a controversial anti-bribery rule aimed at U.S. resource companies such as Exxon Mobil Corp and Chevron Corp, according to a top lawmaker.
After six years of legal battles, the U.S. Securities and Exchange Commission in June approved the rule requiring companies to disclose payments to foreign governments. It will probably be killed swiftly with two simple congressional votes. Other rules eyed for quick overturning by Congress include newly minted environmental, gun control and labor relations measures, sources said.
Under the Congressional Review Act, Congress can use simple majority votes to stop recent regulations in their tracks. The timing in the law means that any rules that became final after May 31 could go on the chopping block.
House of Representatives Majority Leader Kevin McCarthy, the second-most powerful Republican in the chamber, had said he would start using that law quickly after President Donald Trump was inaugurated to help roll back regulations the party considers abusive. House Republicans have been on a blitz of regulatory reform, passing bills to drive down regulations’ costs and create more congressional oversight.
Read more: http://www.rawstory.com/2017/01/republicans-to-kill-us-rules-on-corruption-environment-labor-and-guns-next-week/
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