Earlier in May, the Texas Legislature passed a bill (SB 13) that would prevent Texas from investing in environmental, social, and governance (ESG) financial products that boycott Texas energy companies. If signed into law by Republican Gov. Greg Abbott, SB 13 would require Texas’ public pension funds to “sell, redeem, divest, or withdraw all publicly traded securities of [any] financial company …” that “boycott[s] energy companies.” (more…)
Last week the U.S. House of Representatives advanced the first piece of legislation of the year regarding environmental, social, and governance (ESG). On Wednesday, April 21, the House Financial Services Committee passed H.R. 1187, the ESG Disclosure Simplification Act of 2021, by a party-line vote of 28-22.
On Tuesday, April 13, Reps. Debbie Dingell and Fred Upton, both D-Mich., introduced the PFAS Action Act of 2021, seeking further regulation of per- and polyfluorinated substances (PFAS). Most notably, the bill would require the U.S. Environmental Protection Agency (EPA) to take action to address two PFAS chemicals — PFOA and PFOS — through a number of regulatory provisions: designating PFOA and PFOS as hazardous substances under the Comprehensive Environmental Response, Compensation, and Liability Act, designating PFOA and PFOS as hazardous air pollutants under the Clean Air Act, and requiring EPA to establish national drinking water standards for PFOA and PFOS. (more…)
On Friday, April 9, President Joe Biden released a $1.52 trillion fiscal year (FY) 2022 budget proposal. Referred to as the “skinny budget,” the document includes top-line figures and high-level summaries the White House will supplant with the full budget proposal later this spring. The release of the skinny budget starts the often-challenging process for Congress to pass an appropriations bill by the end of September, when the FY21 appropriations expire. (more…)
President Joe Biden unveiled the first of his two-part infrastructure proposal on Wednesday, March 31. Referred to as the American Jobs Plan, the package would provide $2.3 trillion in spending to support traditional infrastructure upgrades and activities within a new, more expansive definition of infrastructure. The plan provides $621 billion for transportation infrastructure and resiliency activities, $115 billion of which would fund repairs to roads and bridges. This also includes $174 billion in electric vehicle (EV) investments to create a national network of 500,000 EV chargers by 2030, electrify at least 20% of school buses, and electrify the federal fleet, including the U.S. Postal Service. In addition, the proposal provides $111 billion in water infrastructure funding, which includes $45 billion to replace 100% of the nation’s lead service lines and $10 billion to monitor and remediate per- and polyfluoroalkyl substances (PFAS) in drinking water.
Yesterday, the U.S. Congress started a process that could repeal its first Trump-era regulation pursuant to the Congressional Review Act (CRA). Enacted in 1996, the CRA provides Congress an important oversight tool over federal agencies to rescind certain rules. Majority members in both the House of Representatives and the Senate introduced resolutions disapproving the Environmental Protection Agency’s September 2020 final rule on policy amendments to new source performance standards for the oil and natural gas sector. The 2020 rule, which amended 2012 and 2016 standards, rescinded methane-specific emissions limits and removed two segments (natural gas transmission and storage) that were subject to the prior standards. While EPA was directed by President Biden’s Executive Order 13990 to review the 2020 rule and propose a new rule by September 2021, members of Congress are seeking to accelerate this effort by using the CRA.
March 18 marked the U.S. House Energy and Commerce Committee’s first legislative hearing on the majority’s flagship climate bill, the Climate Leadership and Environmental Action for our Nation’s Future Act (CLEAN Future Act). The 981-page bill aims to reach net-zero greenhouse gas emissions across the U.S. economy by 2050. (more…)
On March 11, 2021, U.S. President Joe Biden signed into law the American Rescue Plan Act of 2021, which allocates more than $1.9 trillion to aid COVID-19 relief. Title VI of the law specifically provides $100 million to the Environmental Protection Agency (EPA) to address health disparities resulting from pollution and COVID-19. (more…)