Mr. Chair, I claim the time in opposition. Mr. Chair, I rise in opposition to this amendment. It is an admirable thing, what the gentleman from West Virginia is proposing, protecting investors, making sure investment money is secure and…
Mr. Chair, I claim the time in opposition.
Mr. Chair, I rise in opposition to this amendment. It is an admirable thing, what the gentleman from West Virginia is proposing, protecting investors, making sure investment money is secure and well protected, but this is attacking the SEC's private fund adviser rule, and that is something that protects investors.
It has been designed with the intent to enhance regulatory oversight and transparency within the private fund industry.
The private fund adviser rule increases investor protection by subjecting private fund advisers to registration and regulatory scrutiny by the SEC.
When you hear the word ``regulation,'' think protection. The rule promotes market integrity and stability by minimizing the risk associated with private fund operations.
Private funds can significantly impact financial markets due to their size and the extent of their investments.
The SEC's private fund adviser rule aims to enhance investor protection. It improves market integrity, and it establishes a consistent regulatory framework for private fund advisers.
This is exactly the kind of protection we need to instill confidence by investors in the market and keep capital flowing in this country.
I urge my colleagues to vote ``no.'' I reserve the balance of my time.
Mr. Chair, I oppose the amendment, and I yield back the balance of my time.
Mr. Chair, I claim the time in opposition.
Mr. Chairman, I rise in opposition to this particular amendment.
Again, it is about protecting investors. The SEC's rule addressing conflicts of interest in the use of this so-called predictive data analytics by broker-dealers and investment advisers places a strong emphasis on protecting investor interests. This rule promotes unbiased decisionmaking by requiring firms to proactively manage and disclose conflicts associated with predictive data analytics.
By addressing conflicts of interest, the SEC's rule contributes to market integrity and fairness, and that is what we need for the constant flow of capital to where it needs to go in this country.
Mr. Chairman, I urge my colleagues to vote ``no,'' and I reserve the balance of my time.
Mr. Chairman, the amendment is opposed, and I yield back the balance of my time.
Mr. Chairman, I claim the time in opposition.
Mr. Chair, I rise in strong opposition to this amendment.
The inclusion of the social cost of greenhouse gases in regulatory analyses ensures that the full spectrum of costs associated with greenhouse gas emissions is considered.
This is about full, open, and honest accounting. It includes not only economic costs but also health, environmental, and societal costs, providing a more accurate and comprehensive assessment.
The social costs of greenhouse gases account for the health-related impacts of climate change, such as heat-related illnesses, air pollution, and the spread of diseases from mosquitos, ticks, and fleas.
Inclusion in regulatory analysis leads to decisions that prioritize the protection of public health, reducing the burden on healthcare systems. This leads
to a more comprehensive cost evaluation, encourages emissions reduction, preserves the environment, and promotes sustainable economic growth.
Mr. Chairman, I urge my colleagues to vote ``no'' on this amendment, and I reserve the balance of my time.
Mr. Chairman, this amendment is opposed, and I yield back the balance of my time.
Mr. Chairman, I claim the time in opposition.
Mr. Chairman, I rise in opposition to this particular amendment, which would block a rule that promotes meaningful shareholder engagement by requiring a higher level of shareholder support for resubmitted proposals.
This rule helps streamline the shareholder proposal process by discouraging the repetitive submission of proposals that have failed to gain substantial support in the past. By requiring shareholders to demonstrate substantial support for their proposals, the rule encourages responsible activism and discourages the use of the shareholder proposal process for purely symbolic or nuisance proposals.
Mr. Chairman, I urge my colleagues to vote ``no'' on this amendment, and I reserve the balance of my time.
Mr. Chair, this amendment is opposed, and I yield back the balance of my time.
Mr. Chair, I claim the time in opposition to this amendment.
Mr. Chair, I rise in opposition to this amendment, as well.
Contrary to the misrepresentations made by environmental, social, and governance opponents, the SEC's disclosure rule on ESG investments takes no position on the merits of these approaches.
The rule does not define ESG or stipulate any particular approach to it. Instead, this is a rule that requires, for those who make such investments, the disclosure of information about how ESG is defined and implemented in applicable investment portfolios.
The rule will offer increased transparency for investors and protect them from exaggerated or unfounded claims related to ESG investments being made.
Now, if it passes, my friend from South Carolina's amendment would leave investors in the dark and leave them vulnerable to getting misled or bamboozled about ESG claims.
I strongly oppose this amendment, and I urge a ``no'' vote.
Mr. Chair, I reserve the balance of my time.
Mr. Chair, for the reasons previously stated, this amendment is opposed, and I yield back the balance of my time.
Mr. Chair, I claim the time in opposition to this amendment.
Mr. Chair, I rise in opposition to this amendment. It is an amendment that would block the SEC's rule to require companies to disclose material cybersecurity incidents to their investors.
As SEC Chair Gary Gensler puts it: Whether a company loses a factory in a fire--or millions of files in a cybersecurity incident--it may be material to investors.
Mr. Chair, many public companies already provide their investors with cybersecurity incident disclosures. These rules merely make such disclosures more consistent and comparable in a way that can be useful for those making investment decisions.
Why in the world would you want to invest in a company that hides its cybersecurity incidents?
Efforts like this amendment would undermine transparency and provide investors with less useful information regarding material cybersecurity events.
I strongly oppose this amendment, and I urge a ``no'' vote.
Mr. Chair, I reserve the balance of my time.
Mr. Chair, this amendment is opposed, and I yield back the balance of my time.
Mr. Chair, I claim the time in opposition to this amendment.
Mr. Chair, I rise in opposition to this amendment. It is an amendment that would block the Public Company Accounting Oversight Board's proposal to strengthen standards for public company auditors to more proactively identify, evaluate, and communicate a company's noncompliance with laws and rules.
Why in the world wouldn't we want to warn investors about scofflaw companies?
The PCAOB's proposal will increase auditor vigilance against fraud and general noncompliance with laws and regulations. Steps like these would encourage companies to take more timely action to remediate issues and reduce harm to investors.
This amendment would represent a significant setback to PCAOB's commonsense efforts to combat fraud. Let's protect investors. I strongly oppose this amendment, and I urge a ``no'' vote.
Mr. Chair, I reserve the balance of my time.
Mr. Chair, this amendment is opposed, and I yield back the balance of my time.
Mr. Chairman, I claim the time in opposition.
Mr. Chairman, I acknowledge that there is probably no Member of this House happier than I am not to have to wear a mask this afternoon.
Mr. Chairman, I rise in opposition to this amendment. It is a useless amendment. The COVID public health emergency has ended. This is water over the dam. We should stop wasting the House's time on useless amendments.
Mr. Chairman, I oppose the amendment, and I urge a ``no'' vote, and I reserve the balance of my time.
Mr. Chairman, the amendment is opposed, and I yield back the balance of my time.
Mr. Chairman, I claim the time in opposition.
Mr. Chairman, I rise in opposition to this amendment which would hinder efforts to promote transparency and accountability in small business lending and create hurdles for lenders and community organizations working to help women-owned businesses and minority-owned businesses access capital.
The CFPB's rulemaking would provide small business owners, lenders, and the public with critical information about the $1.7 trillion small business financing market.
This amendment would harm all those who stand to benefit from this expanded transparency and accountability.
Small businesses are the engines of our American economy. Congress should not take action such as this amendment to hurt their ability to prosper.
Mr. Chairman, I strongly oppose this amendment, and I urge a ``no'' vote. I reserve the balance of my time.
Mr. Chairman, I oppose the amendment, and I yield back the balance of my time.
Mr. Chairman, I claim the time in opposition.
Mr. Chair, I rise in opposition to the amendment.
A nonpartisan civil service ensures Federal agencies carry out their missions with professionalism, safeguards the rule of law over partisanship, and ensures continuity between Presidential administrations.
This didn't use to be a dispute in Washington, D.C. There was a clear, longstanding bipartisan consensus behind these principles until the previous administration attempted to undermine statutory merit- based protections for Federal civil servants.
Their effort would have moved tens of thousands of career Federal employees to a new job classification that would remove their employment protections.
This amendment seeks to block the Office of Personnel Management's efforts to uphold these vital protections and works to undermine the integrity of a merit-based, nonpartisan civil service.
Mr. Chairman, I strongly oppose this amendment, and I urge a ``no'' vote. I reserve the balance of my time.
Mr. Chairman, I yield 3 minutes to the distinguished gentleman from Virginia (Mr. Connolly).
Mr. Chairman, I reserve the balance of my time.
Mr. Chairman, this amendment is opposed, and I yield back the balance of my time.
Mr. Chair, I demand a recorded vote.
Mr. Chairman, I claim the time in opposition.
Mr. Chairman, Congress gave the Consumer Financial Protection Bureau, the CFPB, the job of ensuring that consumer protection laws are enforced consistently and that companies do not engage in unfair, deceptive, or abusive practices.
The statute is clear that this authority extends to oversight of nonbank companies that offer financial services or products.
Consistent with its mission of protecting consumers from abusive practices, the CFPB's nonbank registry will provide increased transparency over this sector and deter bad behavior. This amendment would stymie the CFPB's important effort on behalf of consumers and block the agency from preventing abusive practices by nonbanks that offer Financial Services or products.
Congress has to focus its attention on strengthening consumer protections for working people and investors, preventing companies from charging junk fees, and supporting enforcement to crack down on unscrupulous behavior. These are things we should be doing.
Mr. Chairman, I strongly oppose this amendment, I urge a ``no'' vote, and I reserve the balance of my time.
Mr. Chairman, I oppose the amendment, and I yield back the balance of my time.
I claim the time in opposition, Mr. Chairman.
Mr. Chairman, the Federal Labor Relations Authority's proposed changes to rules around how and when Federal employees can cancel payments of their union dues merely restores a longstanding policy about dues payments that had been in place since 1981.
The policy merely establishes that employees may opt out of their union dues payments during a certain time period each year.
Under this longstanding procedure, Federal employees who choose to join their agency's union are made aware of the annual dues revocation period. Every year some members choose to revoke their membership and cease paying dues, a fair process that has worked well for decades.
This amendment would block these decades-old rules and introduce less stability, less financial security, and less predictability for Federal employee unions.
Mr. Chairman, I strongly oppose this amendment, I urge a ``no'' vote, and I reserve the balance of my time.
Mr. Chair, I oppose the amendment, and I yield back the balance of my time.
Mr. Chair, I demand a recorded vote.
Mr. Chair, I claim the time in opposition to the amendment.
Mr. Chair, I rise in opposition to this amendment.
This amendment blocks an important rule requiring major Federal contractors to publicly disclose their greenhouse gas emissions and climate-related financial risks and sets science-based emissions reduction targets.
The Federal Government is the world's single-largest buyer of goods and services, purchasing over $630 billion in the last fiscal year alone. Accordingly, the rule recognizes that the Federal Government also faces significant financial risks from climate change.
This amendment would have us bury our heads in the sand, ignore the Federal Government's exposure to climate change impacts, and prevent us from working toward commonsense climate goals. For those reasons, I urge my colleagues to vote ``no.''
Mr. Chair, I reserve the balance of my time.
Mr. Chair, I oppose the amendment, and I yield back the balance of my time.
Mr. Chair, I claim the time in opposition to the amendment.
Mr. Chair, I rise in opposition to this amendment.
This amendment would block the construction of Federal buildings in Washington, D.C., and with all due respect to the gentleman from Montana, it is based on a fundamental misconception. It is not like these projects go up at the whim of the administration. Buildings have to have appropriated funding, and there is a prospectus process on the authorizing side.
This is a misguided amendment.
Mr. Chair, I urge my colleagues to vote ``no,'' and I reserve the balance of my time.
Mr. Chair, I yield 3 minutes to the distinguished gentlewoman from the District of Columbia (Ms. Norton).
Mr. Chair, I oppose the amendment, and I yield back the balance of my time.
Mr. Chair, I claim the time in opposition to the amendment.
Mr. Chair, I rise in opposition to this amendment.
For more than 50 years, the United States Consumer Product Safety Commission has worked to fulfill its statutory mission to protect the public against unreasonable risk of injuries and deaths associated with consumer products.
By cutting the CPSC's budget by half, this amendment would gut the agency's staff and undermine its mission.
It is an extreme measure that would place children, families, and communities around the country at greater risk of injury and death from product
hazards. This amendment would leave consumers vulnerable to products that pose a fire, electrical, chemical, or mechanical hazard or that can injure children.
Mr. Chair, I strongly oppose this amendment, and I urge a ``no'' vote.
Mr. Chair, I reserve the balance of my time.
Mr. Chair, this amendment is opposed, and I yield back the balance of my time.
Mr. Chair, I demand a recorded vote.
Mr. Chair, I claim the time in opposition.
Mr. Chair, I rise in opposition to this senseless amendment.
The White House gun violence task force is committed to treating gun violence as the public health crisis it is. By approaching this issue from a public health perspective, the task force aims to reduce the staggering number of deaths and injuries caused by firearms in the United States.
The task force emphasizes the importance of data-driven and evidence- based policy decisions that will create solutions that balance the rights of law-abiding gun owners with the need for public safety.
Mr. Chair, as a gun owner myself, I tell you that task force seeks to enact commonsense gun safety measures that the majority of Americans support. These include: background checks for all gun sales, closing the gun show and online sale loopholes, and implementing red flag laws temporarily to disarm individuals who pose a danger to themselves or others.
I strongly oppose this amendment, and I urge a ``no'' vote. I reserve the balance of my time.
Mr. Chair, I yield 2 minutes to the distinguished gentleman from Florida (Mr. Frost).
Mr. Chair, I yield 1 minute to the gentleman from Florida (Mr. Frost).
Mr. Chair, I oppose the amendment, and I yield back the balance of my time.
Mr. Chair, I demand a recorded vote.
Mr. Chair, I claim the time in opposition.
Mr. Chair, I rise in strong opposition to this amendment. Climate-related financial risks can have significant adverse economic impacts on businesses, communities, and the financial sector.
Come on. Addressing these risks is essential to safeguard economic stability and resilience, and these things are crucial in the face of a changing climate.
Financial institutions and Federal agencies ought to consider climate risks in their decisionmaking processes, particularly in investment and lending practices. By doing so, it promotes responsible and sustainable investment choices that support projects and businesses with low environmental impacts.
These executive orders underscore the importance of the United States taking a leadership role in global efforts to combat climate change. By setting ambitious domestic goals and engaging with international partners, the United States can encourage other countries to follow suit, resulting in a more effective global response to climate change. The United States should be leading this effort.
These executive orders are essential for combating climate change because they address climate-related financial risks, encourage responsible investment, promote global leadership, strengthen resilience, and accelerate the transition to clean energy.
They collectively contribute to a more comprehensive and effective approach to mitigating the impacts of climate change and advancing environmental sustainability.
For these reasons, I strongly oppose this amendment, and I do urge a ``no'' vote. I reserve the balance of my time.
Mr. Chair, this amendment is opposed, and I yield back the balance of my time.
Mr. Chairman, I claim the time in opposition.
Mr. Chair, I rise in opposition to this amendment.
The SEC guidance that this rule would block provides clearer guidance for companies for disclosure of non-generally accepted accounting principles, non-GAAP. This clarity helps investors better understand a company's financial performance, making investment decisions more informed. It is as simple as that.
Mr. Chairman, I urge my colleagues to vote ``no,'' and I reserve the balance of my time.
Mr. Chairman, I oppose this amendment, and I yield back the balance of my time.
Mr. Chairman, I claim the time in opposition.
Mr. Chair, I rise in opposition to this amendment.
The SEC's 2022 proxy adviser rule promotes transparency and accountability by requiring proxy advisory firms to provide more disclosure about their methodologies, their potential conflicts of interest, and their engagement with issuers. This rule aims to improve the accuracy and reliability of proxy advisory recommendations, which play a crucial role in corporate governance.
The SEC's 2022 proxy adviser rule strikes a balance among the interests of issuers, investors, and proxy advisory firms.
Mr. Chair, I urge my colleagues to vote ``no,'' and I reserve the balance of my time.
Mr. Chair, I oppose this amendment, and I yield back the balance of my time.
Mr. Chair, I claim the time in opposition to the amendment.
Mr. Chair, I rise in opposition to this amendment.
The Communications Equity and Diversity Council at the Federal Communications Commission, the FCC, is instrumental in promoting inclusivity within the organization. By championing diversity, it ensures that the workforce represents a broader spectrum of perspectives, fostering a more inclusive and equitable workplace.
The council's existence improves decisionmaking at the FCC by incorporating diverse viewpoints. Diverse teams are more likely to generate innovative ideas, leading to better policies and regulations that benefit a wider range of people in the ever-evolving communications and technology sector.
The Communications Equity and Diversity Council also plays a crucial role in ensuring that the FCC complies with American law as well as ethical guidelines related to diversity and equity in employment.
For these reasons, I strongly oppose this amendment.
Mr. Chair, I urge a ``no'' vote, and I reserve the balance of my time.
Mr. Chair, I oppose the amendment, and I yield back the balance of my time.