Congress
Trump SEC pick wants to ditch landmark climate disclosure rule
President-elect Donald Trump’s choice to lead the Securities and Exchange Commission has been a vocal critic of the financial regulator’s recent effort to require companies to disclose their risks from climate change.
Paul Atkins, a Republican whom President George W. Bush named to the SEC in 2002, is best known as an advocate for cryptocurrency since leaving the commission in 2008. He’s also assailed the SEC’s controversial climate-disclosure rule as a burden to corporate America.
Finalized in March under Biden SEC Chair Gary Gensler, the rule would require publicly traded companies to divulge details about the risks that climate change poses to their business. The SEC paused the rule in April amid lawsuits from Republican state attorneys general and a company led by Chris Wright, Trump’s pick for Energy secretary.
Atkins, who founded the financial sector consultancy group Patomak Global Partner, is a “proven leader for common sense regulations,” Trump said in announcing the selection Wednesday.
“He believes in the promise of robust, innovative capital markets that are responsive to the needs of Investors, & that provide capital to make our Economy the best in the World,” Trump wrote on Truth Social. “He also recognizes that digital assets & other innovations are crucial to Making America Greater than Ever Before.”
Environmental groups and advocates for sustainable investing criticized Atkins’ selection and urged the Senate to reject him, saying he would gut efforts to promote investing based on environmental, social and governance considerations, known as ESG.
“Atkins’ mission to roll back accountability and transparency should raise alarm for the future of responsible investing,” said Kyle Herrig, a spokesperson for Unlocking America’s Future, which promotes ESG investing and has run ads supporting the SEC climate-disclosure rule.
Atkins would “surely put a stop to any progress on ESG [principles], which are critical for building a resilient American financial system, protecting the financial security of America’s retirees, and maintaining America’s leadership on the global stage,” Herrig said in a statement.
Before the SEC climate disclosure rule was finalized, Atkins and Republican SEC Commissioner Hester Peirce had argued that it could harm investors because of the complexity and uncertainty of accurately gauging climate risks. Trump appointed Peirce, who was seated in 2018.
Atkins rejected the contention that investors are demanding climate disclosures. He accused the SEC of conflating the demands of both politically motivated investors and climate advocacy groups with the larger market.
“It’s a roundabout way through regulation of disclosure to try to regulate or influence greenhouse gas emissions by themselves, which is delegated by Congress to another agency of the United States government, and that’s namely the EPA,” Atkins said at a virtual panel discussion in 2022 run by the conservative American Enterprise Institute.
Atkins wrote a Wall Street Journal opinion column in 2022 urging the SEC to “retract and rethink its planned disclosure rule.” He joined a comment letter with other former SEC commissioners opposing the rule.
During a Federalist Society webinar in July, Atkins called it a “huge rule that would completely upend corporate disclosure.” He said the rule, which the SEC had recently paused, would expand disclosure “and really make things revolve around climate disclosure and all sorts of subjective and very hypothetical effects.”
Testifying before Congress in 2019, Atkins told lawmakers that more mandatory disclosures would be burdensome for companies and would dissuade them from going public. Atkins was testifying against Democratic-led legislation that would have required public companies to provide more information about their environmental and social effects and vulnerabilities.
Atkins would replace Gensler, who championed the climate disclosure rule and has been leading a crackdown on the crypto industry. Gensler, nominated by President Joe Biden, announced in November that he would step down on Inauguration Day.
The SEC’s five commissioners are appointed for five-year terms, which can be extended, and are politically balanced so that no more than three commissioners are from the same party. Although Gensler’s term runs into 2026, he followed a long practice of SEC chairs resigning when a new president takes office.
Trump, who once expressed skepticism about power-hungry cryptocurrencies, received billions of dollars from the industry for his 2024 campaign and said he would launch his own cryptocurrency business.
Mining cryptocurrency requires high-powered computers that consume a vast amount of electricity. U.S. operations currently account for as much as 2.3 percent of total U.S. electricity usage, according to the U.S. Energy Information Administration. That’s equivalent to the demand from Utah or West Virginia.
After more than a decade at the center of GOP politics on Capitol Hill, the House Freedom Caucus is suddenly confronting an unsettled future.
Several of the hard-right bloc’s most prominent members are leaving Congress next year after seeking higher office — including a former chair, Rep. Andy Biggs of Arizona, and several media-friendly voices such as Reps. Chip Roy of Texas, Byron Donalds of Florida and Ralph Norman of South Carolina, among others.
“We’re losing a lot of talent — there’s no doubt about it,” Rep. Eli Crane of Arizona said. “So it’s just kind of like a next-man-up mentality.”
But which man is very much in question. The current chair, Rep. Andy Harris of Maryland, is term-limited, and a new generation of combative ultraconservatives is ready to step in just as the caucus comes to terms with a potentially changing role on Capitol Hill.
The group will be facing twin challenges — a potential shift to a Democratic House majority, which has historically made the caucus less pivotal, and the looming transition to a Republican Party without a President Donald Trump, who has been an animating force for most of its members.
“Across the country, people know who the Freedom Caucus is,” said Rep. Clay Higgins of Louisiana. “The next couple of years is going to be important for the caucus.”
The group has reinvented itself in the past, with new leaders emerging as old members move on. Donalds recalled when former chair Mark Meadows of North Carolina departed for the White House in Trump’s first term.
“They’re like, ‘Well, what’s going to be the future of HFC?’ And in came Chip Roy, in came a Byron Donalds,” he said with a grin. “We just kind of kept it going.”
The only founding member still serving in the House is Rep. Jim Jordan of Ohio, who could make a play for minority leader if Republicans lose the majority in November — further scrambling the caucus’ historic role as a hard-right vanguard.
Harris will remain a member, as will fellow former chair Scott Perry of Pennsylvania — if he can win what’s expected to be a competitive general-election race. Veteran members such as Reps. Michael Cloud and Keith Self of Texas will also be influential.
But a number of relatively obscure members are ready to make moves and become the new faces of the hard right in the House.
Eric Burlison
Rep. Eric Burlison of Missouri is in his second term but has shown an unmistakable thirst to be at the center of the action since arriving in the House. Currently an HFC board member, Burlinson said he is considering running to be the next chair.
“You obviously have to be selected by your peers, and that would be the greatest honor,” he said in an interview. “There’s no one I respect more than the people that are members of HFC.”
He spent over a decade in the Missouri statehouse before heading to Congress, after working as a software consultant. Last summer he was a vocal member pushing for the full release of the Epstein files and has become a leading Republican pushing for more information on UFOs.
Burlison noted that a future chair will be inheriting a nationally recognized Freedom Caucus “brand” that includes a plethora of state-level and local groups that have adopted the name. He said the original HFC should look at ways to “leverage” that brand but also protect it from being adopted by groups that aren’t in line with its conservative vision.
“We have to kind of protect our image,” he said. ”So I think we need to get that figured out.”
Andrew Clyde
Rep. Andrew Clyde of Georgia has managed to amass significant power by Freedom Caucus standards by winning seats on the Appropriations and Budget committees, which have allowed him to push for conservative positions on those influential panels.
Clyde, another board member, said in an interview he had not yet thought about running for chair but noted that “you don’t have to be the chairman to have outsized influence.”
He added that while the group is losing some high-profile members, the president’s conservative agenda has attracted several likely incoming members to the group.
“We’re seeing some folks that have not supported the Freedom Caucus before that are coming on board to support the House Freedom Caucus,” Clyde said. “So I think you’ll see [an] even greater presence.”
Brandon Gill
Rep. Brandon Gill of Texas, a freshman and the youngest sitting House Republican, is already seen as a rising star inside the House GOP. He has said he wants to emulate Jordanand has a seat on Judiciary, the committee his governing idol chairs.
Gill has made a name for himself through provocative social media posts, regular appearances on Fox News and splashy legislative moves such as seeking to impeach James Boasberg, the federal judge who ruled against some of Trump’s deportations last year.
He does not, however, break with GOP leaders as often as some other Freedom Caucus members and could encounter internal doubts as to whether he’d be willing to play internal hardball in the same way as prior chairs.
Clay Higgins
Higgins is one of the more senior Freedom Caucus members — and one of the more controversial. The former sheriff has been a prominent proponent of conspiracy theories around the Jan. 6, 2021, Capitol attack and he was the only lawmaker to oppose the release of the Epstein files.
Also currently a board member, he said in an interview he has not ruled out seeking the caucus chair post. But he also said he was “not interested in campaigning” for the job and would like to see a “peaceful transition.”
Higgins did boast having “a pretty solid reputation within the caucus as a thoughtful conservative” and is hoping the group focuses more on policymaking in its next iteration rather than obstructing leadership prerogatives.
“We’re either going to go deeper into being a meaningful, effective conservative faction for the entire country, or we could bounce in the other direction and be more like protesters in the parking lot,” he said.
Andy Ogles
Rep. Andy Ogles of Tennessee has been a controversy magnet in the wider political sphere — known for a long-running campaign finance investigation that was recently dropped by the Justice Department and a series of offensive public statements on Muslims, immigrants and other groups.
But inside the Freedom Caucus, he has emerged as a serious force over two terms, with his name floated for chair even before the end of his first term. He did not rule out running for chair or another caucus leadership position in a recent interview.
“All I care about is winning,” Ogles said, referring to the caucus agenda. “If I’m better in a second or tertiary role, that’s what I’ll do to make sure we deliver on the president’s agenda. If that means I’m the chairman, then so be it.”
Ogles said the upcoming turnover represents a good opportunity to renew and potentially rethink how the group operates: “We’re going into the presidential. Sometimes you need fresh ideas, fresh faces.”
The House Oversight Committee requested that Alan Dershowitz, the lawyer who once represented Jeffery Epstein, testify as part of its investigation into the federal government’s handling of the Epstein files.
The interview is tentatively slated for 10 a.m. on July 9, with a video and transcript of the testimony being released “as expeditiously as practical,” Chair James Comer (R-Ky.) wrote in a letter to Dershowitz on Friday.
“Due to public reporting, documents released by the Department of Justice, documents obtained by the Committee, and your former role as Mr. Epstein’s attorney, the Committee believes you have information that will assist in its investigation,” Comer wrote.
Comer told reporters on Wednesday that he wanted to hear from Dershowitz, who helped Epstein secure a controversial plea deal in his 2008 sex abuse case.
“I’m looking forward to testifying,” Dershowitz wrote in a text message to Blue Light News on Friday, adding that he is “trying to adjust my schedule” for July 9.
Sen. John Cornyn isn’t a card-carrying member of the Senate GOP’s growing YOLO caucus. But with less than seven months left in office after losing his primary, the Texas Republican appears to be feeling newly free to speak his mind.
The latest clap-back came Thursday night and the early hours of Friday morning, when Cornyn called a conservative influencer a “grifter” and told Sen. Mike Lee (R-Utah) on social media to stop publicly blaming fellow Republicans — including Senate Majority Leader John Thune — for the fact that the GOP elections bill doesn’t have support to pass inside the party.
“You don’t have the votes” for the SAVE America Act, Cornyn posted on X. “@LeaderJohnThune can’t change that. It is math.”
He was directing his comments at Lee, who had just penned a post telling Thune, “let’s do this!”
Cornyn continued, “Try focusing on Democrats instead of Republicans. Republican on Republican attacks are hurting our chances to win the majority in November.”
Lee responded to ask, “on what planet is this an attack on Republicans?” and appeared to suggest a staffer was tweeting on Cornyn’s behalf: “Once my friend John Cornyn realizes that you’re saying this in his name—whoever you are—I don’t think he’ll be happy with you.”
Cornyn, however, is known for posting himself on his social media accounts in a chamber where many Senate accounts are run solely by staff. And he’s been making it clear all week that he will push back on Trump and his party when he thinks it’s needed.
In multiple conversations with reporters in the Capitol, Cornyn said that Republicans need to “stop the circular firing squad.” And he added that he won’t intentionally be “a thorn in [Trump’s] side,” but he’s also “not going to go out of my way to try to appease him.”
“I want him to succeed, I want the Republican Party to succeed, I want the country to succeed,” Cornyn said this week. “But on a case-by-case basis, when I think there’s been overreach or just a bad idea, I’m not going to hesitate to weigh in.”
The four-term senator’s comments come after he lost his primary last month to Texas Attorney General Ken Paxton, who Trump endorsed in the final days of the runoff.
Cornyn said in an interview with The New York Times that he was not a “wounded bear” but that he believed Trump’s insistence on “slavish adherence” was going to backfire for Republicans in the midterms and result in “the most miserable two years of his life” if Democrats flip the House or Senate.
“I think it is going to be a pretty bumpy ride for the next seven months,” Cornyn said.
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