Resolutions targeting bank climate rules up for markup

By Emma Dumain | 04/15/2024 06:37 AM EDT

The House Financial Services Committee’s main target is the Securities and Exchange Commission’s climate disclosure rule.

Rep. Patrick McHenry (R-N.C.), chair of the House Financial Services Committee.

House Financial Services Chair Patrick McHenry (R-N.C.) will lead a markup this week of resolutions against climate rulemaking and guidance. Roberto Shmidt/AFP via Getty Images

The House Financial Services Committee will meet this week to approve four Congressional Review Act resolutions targeting new federal rules and guidance on climate change.

The measures are likely to pass the Republican-controlled House and possibly the Democratic-controlled Senate. Resolutions of disapproval under the Congressional Review Act only require simple majorities to clear Congress.

Moderate Senate Democrats and those in tough reelection campaigns could side with Republicans to approve at least some of the four resolutions, forcing President Joe Biden to veto legislation targeting planks of his climate agenda.


H. Res. 127 would turn back the Securities and Exchange Commission’s long-awaited rule requiring public companies to disclose their climate risks.