Hill Heat

Press conference highlighting the need to protect Americans’ freedom to invest following the first of six House Financial Services Committee hearings targeting ESG investing.

During the press conference, members of the Congressional Sustainable Investment Caucus and House Financial Services Committee will underscore the importance of preserving the free-market principles of consumer choice and investor freedom.

Speakers:

• Ranking Member Maxine Waters (D-CA)
• Rep. Sean Casten (D-IL)
• Rep. Juan Vargas (D-CA)
• Rep. Seth Magaziner (D-RI)
• Rep. Brad Sherman (D-CA)
• Minnesota Attorney General Keith Ellison
• Brandon Rees, Deputy Director of the Office of Investment for the AFL-CIO

Where: House Triangle

The event will also be livestreamed on Rep. Vargas’ Twitter and Rep. Casten’s Facebook page.

The Subcommittee on Energy and Mineral Resources will hold an oversight hearing titled “Examining the Biden Administration’s Record on Federal Coal Leasing” on Wednesday, July 12, 2023, at 10:15 a.m. EDT in room 1324 Longworth House Office Building.

Hearing memo

Witnesses:

• Randall Luthi, Chief Energy Advisor, Office of the Governor, State of Wyoming, Cheyenne, WY
• Matthew Adams, Vice President and Senior Tax Counsel, Navajo Transitional Energy Company (NTEC), Broomfield, CO
• John Driscoll, Director and Chief Executive Officer, Port of Mobile, Alabama Port Authority, Mobile, AL
• Sara Kendall, Interim Executive Director, Western Organization of Resource Councils, Washington, DC

Full committee hearing on enhancing fire weather prediction and coordination.

Witnesses:

• Mark Goeller, State Forester/Director Oklahoma Department of Agriculture, Food and Forestry
• James Peverill, Founder/CEO, GreenSight
• Dr. Ali Tohidi, Assistant Professor of Mechanical Engineering and Wildfire Dynamics, San Jose State University

Regulators overseeing public corporations and depository institutions are adopting climate-related financial risk measures and regulations to support shareholder democracy. At this full committee hearing, Republican witnesses will testify in favor of legislation to block those advances.

Committee memo

Witnesses:

• James Copland, Senior Fellow & Director, Manhattan Institute
• Benjamin Zycher, Senior Fellow, American Enterprise Institute
• Lawrence Cunningham, Special Counsel, Mayer Brown
• Ted Allen, Vice President, Society for Corporate Governance

Legislation:

• H.R. ____, a bill authorize the exclusion of shareholder proposals from proxy or consent solicitation material if such proposals are substantially similar to previously included proposals.
• H.R. ____, to authorize the exclusion of shareholder proposals from proxy or consent solicitation material if such proposals substantially implement, substantially duplicate, or are substantially similar to previously included proposals.
• H.R. ____, to authorize the exclusion of shareholder proposals from proxy or consent solicitation material if the subject matter of the shareholder proposal is environmental, social, or political.
• H.R. ____, to clarify that an issuer may exclude a shareholder proposal pursuant to section 240.14a-8(i) of title 17, Code of Federal Regulations, without regard to whether such proposal relates to a significant social policy issue.
• H.R. ____, to amend the Securities Exchange Act of 1934 to prohibit the Securities and Exchange Commission from compelling the discussion of shareholder proposals or proxy or consent solicitation materials.
• H.R. ____, to require the Securities and Exchange Commission to conduct a study of certain issues with respect to shareholder proposals, proxy advisory firms, and the proxy process, and for other purposes.
• H.R. ____, to amend the Securities Exchange Act of 1934 to provide for the registration of proxy advisory firms, and for other purposes.
• H.R. ____, to amend the Securities Exchange Act of 1934 to provide for liability for certain failures to disclose material information in connection with proxy voting advice, and for other purposes. 
• H.R. ____, to amend the Securities Exchange Act of 1934 to provide for duties of certain investment advisors, asset managers, and pension funds with respect to voting on shareholder proposals, and for other purposes.
• H.R. ____, to amend the Securities Exchange Act of 1934 to prohibit robovoting with respect to votes related to proxy or consent solicitation materials, and for other purposes.
• H.R. ____, to amend the Investment Advisers Act of 1940 with respect to proxy voting of passively managed funds, and for other purposes.
• H.R. ____, to require the Comptroller General of the United States to conduct a study on the detrimental impact of the Directive on Corporate Sustainability Due Diligence and the Corporate Sustainability Reporting Directive on United States companies, and for other purposes.
• H.R. ____, the “International Regulatory Transparency and Accountability Act.”
• H.R. ____, the “Mandatory Materiality Requirement Act of 2022.”
• H.R. ____, to amend the Securities Exchange Act of 1934 to require the Securities and Exchange Commission to disclose and report on non-material disclosure mandates, and for other purposes.
• H.R. ____, the “Public Company Advisory Committee Act of 2022.”
• H.R. ____, to amend the Investment Advisers Act of 1940 to specify requirements concerning the consideration of pecuniary and non-pecuniary factors, to require the Securities and Exchange Commission to conduct a study on climate change and other environmental disclosures in the municipal bond market, and to require the Securities and Exchange Commission to conduct a study on the solicitation of municipal securities business.
• H.R. 2743, the “Fair Access to Banking Act.”

The Committee will hold a field hearing titled “Trade in America: Agriculture and Critical Supply Chains – Kimball, Minnesota.” The hearing will take place at 2:30 PM on Monday, July 10, 2023, at Schiefelbein Farms in Kimball, Minnesota.

On Monday, June 26, 2023, at 1:00 p.m. PDT, the Committee on Natural Resources, Subcommittee on Water, Wildlife and Fisheries will hold an oversight field hearing titled “The Northwest at risk: the environmentalist’s effort to destroy navigation, transportation, and access to reliable power.” The hearing will focus on the multipurpose benefits of the Columbia and Snake Rivers and the Federal Columbia River Power System, in particular the lower Snake River dams.

This hearing will be held in the auditorium of Richland High School, located at 930 Long Avenue in Richland, Washington.

Hearing memo

Witnesses:

• Jennifer Quan, West Coast Regional Administrator, National Marine Fisheries Service, National Oceanic and Atmospheric Administration
• John Hairston, Administrator and CEO, Bonneville Power Administration
• Beth Coffey, Director of Programs, Northwestern Division, U.S. Army Corps of Engineers
• Scott Corbitt, General Manger, Port of Lewiston, Idaho
• Rick Dunn, General Manager, Benton Public Utility District, Kennewick, Washington
• Michelle Hennings, Executive Director, Washington Association of Wheat Growers, Ritzville, Washington
• Alex McGregor, Chairman of the Board of Directors, The McGregor Company, Colfax, Washington
• Todd Myers, Environmental Director, Washington Policy Center, Cle Elum, Washington
• Dr. David Welch, President & Founder, Kintama Research Services Ltd., Nanaimo, BC, Canada

Subcommittee markup of Fiscal Year 2024 State, Foreign Operations, and Related Programs Bill.

The State, Foreign Operations, and Related Programs bill provides $52.5 billion for programs under the jurisdiction of the Subcommittee, which is $16.4 billion (24%) below the President’s Budget Request, $7.2 billion (12%) below FY23 enacted level, and $1.7 billion below the FY19 enacted level.

Text of Legislation

• FY24 State, Foreign Operations, and Related Programs - Subcommittee Mark

Documents

• FY24 State, Foreign Operations, and Related Programs – Bill Summary
• Notice of FY24 Subcommittee Markup – State, Foreign Operations, and Related Programs Bill

“None of the funds appropriated or otherwise made available by this Act under the heading ‘‘Multilateral Assistance’’ may be used to implement, administer, or otherwise carry out Executive Order 14008 (relating to Executive Order on Tackling the Climate Crisis at Home and Abroad), including the memorandum entitled ‘‘Guidance on Fossil Fuel Energy at the Multilateral Development Banks’’, issued by the Department of the Treasury on August 16, 2021.”

“None of the funds appropriated or otherwise made available by this Act may be made available as a contribution, grant, or any other payment to the Green Climate Fund.”

“None of the funds appropriated or otherwise made available by this Act may be made available as a contribution, grant, or any other payment to the Clean Technology Fund.”

“None of the funds appropriated or otherwise made available by this Act may be made available to pay compensation to any country, organization, or individual for loss and damages attributed to climate change.”

“Funds appropriated by this Act and made available for the sectors and programs in sections 7032 [Democracy Programs], 7036 [Human Trafficking], 7059 [Women’s Equality and Empowerment], and 7060 [Basic Education and Higher Education] shall not be attributed to, or counted toward targets for, climate change programs.”

“None of the funds appropriated or otherwise made available by this Act may be used by the Secretary of State to impede the uninterrupted transmission of hydrocarbons by pipeline through the territory of one Party not originating in the territory of that Party, for delivery to the territory of the other Party as ratified by The Agreement between the Government of the United States of America and the Government of Canada concerning Transit Pipelines, signed at Washington on January 28, 1977.”

“The Comptroller General of the United States shall conduct a study on funds appropriated in prior Acts making appropriations for the Department of State, foreign operations, and related programs from fiscal years 2020 through 2023 made available for climate change programs and whether such funds have had a direct result on lowering global temperatures.”

“None of the funds appropriated under title III of this Act may be made available for renewable energy programs as part of Power Africa until the Administrator of the United States Agency for International Development certifies and reports to the appropriate congressional committees that no less than the total funds allocated for renewable energy during the previous fiscal year has been allocated in fiscal year 2024 for other sources of energy [oil, natural gas, coal] included in paragraph (8) of section 3 of the Electrify Africa Act of 2015 (Public Law 114–121).”

On Thursday, June 22, 2023, at 2:00 p.m., in Room 1324 Longworth House Office Building, the Subcommittee on Federal Lands will hold a legislative hearing on the following bills:

• H.R. 2997 (Rep. Boebert), “Clifton Opportunities Now for Vibrant Economic Yields (CONVEY) Act” to transfer a parcel of BLM land for economic development for the town of Clifton in Mesa County, Colorado;
• H.R. 3025 (Rep. Plaskett), To provide for no net increase in the total acreage of Federal land in the Virgin Islands National Park on St. John, United States Virgin Islands;
• H.R. 3049 (Rep. Curtis), “Utah School and Institutional Trust Lands Administration Exchange Act of 2023”;
• H.R. 3250 (Rep. Morelle), “National Museum of Play Recognition Act”; and
• H.R. 4141 (Rep. Fulcher) To provide that certain communications projects are not subject to requirements to prepare certain environmental or historical preservation reviews, and for other purposes.

Hearing memo

Witnesses:

• Nada Wolff Culver, Principal Deputy Director, Bureau of Land Management [All bills]
• Rose Pugliese, Assistant Minority Leader, Colorado House of Representatives (District 14), Colorado Springs, Colorado [H.R. 2997]
• Michelle McConkie, Director, State of Utah School and Institutional Trust Lands Administration, Salt Lake City, Utah [H.R. 3049]
• John Stuart, President and CEO, MTE Communications, Midvale, Idaho [H.R. 4141]

The Subcommittee on Environment, Manufacturing, and Critical Materials has scheduled a hearing on Thursday, June 22, 2023, at 10:00 a.m. (ET) in 2123 Rayburn House Office Building. The title of the hearing is “Driving Affordability: Preserving People’s Freedom to Buy Affordable Vehicles and Fuel.”

Hearing memo

Legislation to be discussed:

• H.R. 1435, The Preserving Choice in Vehicle Purchases Act (Rep. John Joyce)
• H.R. 3337, The Fuels Parity Act (Rep. Miller-Meeks)
• H.R. ___, The Choice in Automobile Retail Sales Act of 2023
• H.R. __, The No Fuel Credits for Batteries Act of 2023

Witnesses:

Panel One

• Joseph Goffman, Principal Deputy Administrator, Office of Air and Radiation, U.S. Environmental Protection Agency

Panel Two

• Chet Thompson, President and CEO, American Fuel and Petrochemical Manufacturers
• Neil Caskey, CEO, National Corn Growers Association
• Scott Lambert, President, Minnesota Auto Dealers Association
• Genevieve Cullen, President, Electric Drive Transportation Association

House Energy and Commerce Committee Chair Cathy McMorris Rodgers (R-WA) and Environment, Manufacturing, and Critical Materials Subcommittee Chair Bill Johnson (R-OH) released the following statement:

“Americans need affordable, reliable transportation to get to work, take their children to school, go to the doctor, and live their lives. Today, however, people are struggling to afford some of the highest energy and auto prices in decades as a result of Biden’s energy and inflation crisis. His rush-to-green policies are hurting middle- and low-income families the most. The Environmental Protection Agency’s (EPA) recent regulatory efforts to advance this radical agenda, particularly on the kind of cars Americans can drive and the fuels they can use, risk further disrupting fuel markets and increasing transportation costs. We look forward to holding this hearing with EPA officials and stakeholders to discuss how we can increase—not limit—people’s choices and access to reliable, affordable transportation fuels and vehicles.”

H.R. 1435 amends CAA section 209(b)—the conditions under which EPA can grant a waiver to a State (i.e., California) for a motor vehicle emissions standard. Specifically, H.R. 1435 adds an additional requirement that must be satisfied for EPA to provide a State a waiver for its vehicle emissions standards: the State directive cannot “directly or indirectly” limit the sale or use of new motor vehicles with an ICE. H.R. 1435 also prevents EPA from considering State standards amended after the date of enactment of this bill as having qualified under an existing waiver. Finally, H.R. 1435 revokes any CAA section 209(b) waivers California received between January 1, 2022, and the date H.R. 1534 becomes law if the California motor vehicle standard receiving a waiver “directly or indirectly” limited the sale or use of new motor vehicles with an ICE.

H.R. 3337 has two distinct pieces to it related to the definition of “advanced biofuel” in the RFS under CAA section 211(o)(1)(B). First, it allows “ethanol derived from corn starch” to qualify for RFS volume requirements as a “renewable fuel” and an “advanced biofuel.” Second, because the definition of “advanced biofuel” requires a determination by EPA that the fuel has lifecycle GHG emissions “that are at least 50 percent less than baseline lifecycle GHGs,” H.R. 3337 requires EPA, 90 days after enactment and then every 5 years, to update its methodology for analyzing lifecycle GHG emissions from ethanol derived from corn starch and biomass-based diesel. For the first iteration, H.R. 3337 requires EPA to use the most recent Greenhouse Gases, Regulated Emissions, and Energy Use in Transportation model (“GREET model”’) GREET is a tool developed by the Department of Energy’s Argonne National Laboratory to examine the lifecycle impacts for any given energy and vehicle system; it can calculate total energy consumption (non-renewable and renewable), emissions of air pollutants, emissions of greenhouse gases, and water consumption.

The No Fuels Credits for Batteries Act clarifies that EPA is not authorized to use credits for electricity generated from renewable fuel to satisfy the volume of renewable fuel that needs to be contained in transportation fuel for purposes of the RFS. The legislation also prohibits the use or transfer of any eRINs credits generated before the date of enactment (to address any gap with EPA’s December 1, 2022, proposal). Finally, it defines “renewable fuel” and “transportation fuel” using their RFS definitions.

The Choice in Automobile Retail Sales (CARS) Act has two parts. First, it prohibits the EPA from finalizing, implementing, or enforcing its proposed rule titled “Multi-Pollutant Emissions Standards for Model Years 2027 and Later Light-Duty and Medium-Duty Vehicles” that was published in the Federal Register on May 5, 2023. Second, it amends CAA section 202(a)(2) to prevent any regulations previously issued with this authority from mandating the use of any specific technology or resulting in the limited availability of new motor vehicles based on that vehicle’s engine type. It also gives EPA two years to update those regulations that mandate the use of a specific technology or result in the limited availability of new vehicles based upon that vehicle’s engine.

This is a hearing of the Subcommittee on Water Resources and Environment to review the FY 2024 budget for agencies under its jurisdiction, including the Army Corps of Engineers, the Tennessee Valley Authority, and the Great Lakes St. Lawrence Seaway.

Witnesses:

• Michael L. Connor, Assistant Secretary of the Army for Civil Works, Department of the Army
• Major General William “Butch” H. Graham, Deputy Chief of Engineers and Deputy Commanding General, United States Army Corps of Engineers
• Jeff Lyash, President and Chief Executive Officer, Tennessee Valley Authority
• Adam Tindall-Schlicht, Administrator, Great Lakes St. Lawrence Seaway Development Corporation