Political Quotes

“I am opposed to this bill, and I rise in opposition to H.R. 1187. Mr. Speaker, today, my Democrat colleagues, once again, are seeking to hijack our securities laws to push leftwing political and social agendas, despite dressing it up as investor protection. Make no mistake, this bill will increase costs on publicly owned companies, discourage private companies from going public; and, frankly, could encourage not only private companies to stay private, but even have and entice public companies to go back to being private companies. This is going to result in fewer investment opportunities for everyday American investors, also known as our constituents, who are saving for retirement, a college education or simply looking to just build a better life. In short, this bill will increase the number of government-directed, mandatory disclosure requirements on publicly traded companies, which will increase compliance costs on companies and divert company resources that could have been used to create more jobs. Now, to be fair, this is a job-creation bill. However, the only jobs created by this bill will be for a special tranche of attorneys, corporate compliance coordinators, and the occasional scientist; not exactly what an economist would call productive-types of jobs. Under this bill, public companies would be required to disclose: Environmental, social, and governance issues, as well as climate risk.…”