WASHINGTON, D.C. – Today, the Securities and Exchange Commission (SEC) finalized its climate disclosure rule, which will illegally elevate the SEC as a climate regulator across the American economy. This decision comes following a two-year period in which the SEC faced mounting pressure from businesses, taxpayers, consumers, farmers, and many other voices to withdraw this economically costly and legally dubious rule.

In response to the final rule, Taxpayers Protection Alliance (TPA) President David Williams offered the following comment:

“The SEC has done it again: venturing into areas in which it has no congressionally mandated authority and implementing rules that come with more questions than answers. The enactment of this regulation will certainly lead to excessive compliance costs, imposing unwarranted financial strain on taxpayers and businesses. This new rule will likely have its day its court. We hope the courts dismiss this unlawful regulation since it conflicts with the Major Questions Doctrine for the same reasons as the EPA’s Clean Power Plan.”

TPA has been deeply engaged since the SEC announced the climate disclosure rule: