July 26, 2012

Congressman Posey introduced an Amendment to the H.R. 4078, the Red Tape Reduction Act, which directs the SEC to focus on protecting investors from fraud instead of making climate change policies. The Amendment is based off legislation that Posey introduced with Sen. John Barrasso (R-WY) called the MADOFF Act, which instructs the SEC focused on protecting investors with its finite resources and not issuing or enforcing new and controversial climate change guidance. As they may today, companies may include information mentioning bona fide environmental or weather risks, or voluntarily submitting climate change information on a disclosure. The Amendment passed the House with bipartisan support 245-171. July 25, 2012