Overnight Regulation: Trump signs repeal of oil industry transparency rule

Overnight Regulation: Trump signs repeal of oil industry transparency rule
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Welcome to Overnight Regulation, your daily rundown of news from the federal agencies, Capitol Hill, the courts and beyond. It's Tuesday evening here in Washington where not everyone is feeling the love on this Valentine's Day. 

National Security Adviser Michael Flynn resigned and the Office of Government Ethics is recommending the White House discipline adviser Kellyanne Conway for plugging Ivanka Trump's product line. 

Here's the latest. 

 

THE BIG STORY 

Republicans successfully used the Congressional Review Act to repeal a regulation for the first time in 16 years Tuesday.  

As The Hill's Tim Cama reports, President Trump signed legislation to repeal a controversial rule that would have required energy companies to disclose their payments to foreign governments. 

The Securities and Exchange Commission rule, part of the 2010 Dodd-Frank financial reform law, forced energy companies on the United States stock exchanges to disclose the royalties and other payments that oil, natural gas, coal and mineral companies make to governments in an effort to fight corruption in resource-rich countries. 

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Republicans have been working to roll back a series of Obama-era rules. Earlier this month, a resolution to kill Obama's coal mining rule passed both the House and Senate. That rule required coal miners to clean up the waste from mountaintop removal mining and prevent it from going into local waterways. 

The administration and congressional allies reportedly claim the SEC rule repealed Tuesday imposes massive, unnecessary costs on United States oil, natural gas and mining companies, putting them at a significant competitive disadvantage to foreign companies that do not have to comply.

Supporters, however, say it was needed to protect investors. 

"This kind of transparency is essential to combating waste, fraud, corruption and mismanagement." Sen. Sherrod BrownSherrod Campbell BrownOvernight Finance: House passes spending bill with border wall funds | Ryan drops border tax idea | Russia sanctions bill goes to Trump's desk | Dems grill bank regulator picks Dems grill Trump bank regulator nominees Senate Dems launch talkathon ahead of ObamaCare repeal vote MORE (D-Ohio), top Democrat on the Senate Banking Committee, said earlier this month.

House Majority Leader Kevin McCarthy (R-Calif.) said Trump's action helps puts American businesses on equal footing with their foreign competitors. 

"I look forward to President Trump signing even more such resolutions in the coming weeks. In the meantime, the House will pass more CRAs this week, and we look forward to continuing to work with the President to clean up the regulatory mess in Washington," he said in a statement.  

Read the full story here

 

ON TAP FOR WEDNESDAY

The House Education and the Workforce Subcommittee on Early Childhood, Elementary, and Secondary Education will hold a hearing to discuss juvenile justice reform. 

The House Science, Space and Technology Subcommittee on Energy will hold a hearing to discuss the Energy Department's loan guarantee program. 

The House Small Business Committee will hold a hearing to discuss the tax code and how it impairs entrepreneurs. 

The Senate Environment and Public Works Committee will hold a hearing to look at how to modernize the Endangered Species Act.

The Senate Foreign Relations Committee will hold a hearing to look at ending modern slavery and Ashton Kutcher is one of the witnesses scheduled to testify. 

The Senate Appropriations Subcommittee on the Departments of Labor, Health and Human Services, and Education, and Related Agencies will hold a hearing to examine mental health care. 

TOMORROW'S REGS TODAY

Wednesday's edition of the Federal Register delays a Department of Health and Human Services (HHS) rule published just before President Trump's inauguration. 

What to watch: 

Communicable diseases: The HHS is delaying its rule to improve the Centers for Disease Control and Prevention's ability to protect against the introduction, transmission and spread of communicable diseases like Ebola and the Zika virus.

The rule, finalized on Jan. 19, sets a 72-hour limit for how long a person can be held without a federal order for isolation or quarantine. It also provides due process protections for people who are subject to public health orders, including a right to counsel for indigent individuals.

The rule set to take effect on Feb. 21 is now delayed until March 21. HHS said it's following the Trump administration's regulatory moratorium.

Trump Chief of Staff Reince Priebus issued a memo after the inauguration telling federal agencies not to issue any more regulations.

Agency heads were advised to delay the effective date of rules that had already been published for at least another 60 days.

 

NEWS RIGHT NOW 

Lawmakers debate allowing cameras in courtrooms 

Dems slam Trump for attacking judges 

Trade groups push Congress to reverse NLRB joint employer ruling 

Ethics Office calls on White House to discipline Conway 

GOP bill would eliminate Consumer Financial Protection Bureau

Feds: Flight cancellations, mishandled bags fall to record lows

House gets serious about driverless cars

Senate Dems want Pruitt vote delayed over emails

House Dems rip FCC chief over internet subsidy program

Aetna, Humana call off merger plans

Justice Department warned White House that Flynn could be vulnerable to Russian blackmail, officials say – The Washington Post 

Labor Department employees urge vote against Puzder nominee – The Washington Post 

Governor, artists take aim at states' transgender bathroom measures – Reuters 

 

TODAY'S REG COUNT 

5: Proposed rules

9: Final rules 

(Source: Federal Register) 

 

QUOTE OF THE DAY

"There's enough grandstanding in Congress before the cameras in hearings and on the floor. Can you imagine what would take place in a courtroom?" Rep. Tom Marino (R-Pa.) said Tuesday, arguing against the idea of allowing cameras to film federal court proceedings. Read more here.

We'll work to stay on top of these and other stories throughout the week, so check The Hill's Regulation page (http://thehill.com/regulation) early and often for the latest. And send any comments, complaints or regulatory news tips our way, tdevaney@thehill.com or lwheeler@thehill.com. And follow us at @timdevaney and @wheelerlydia.

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