Scott Joins Boozman and Colleagues to Protect Farmers From SEC

Press Release

Date: Dec. 15, 2022
Location: Washington, DC

This week, Senator Tim Scott (R-S.C.) joined six other senators in cosponsoring the Protect the Farmers from the SEC Act introduced by Senator John Boozman (R- Ark.). This legislation would protect family farmers and ranchers from burdensome greenhouse gas (GHG) emissions reporting rules proposed by the U.S. Securities and Exchange Commission (SEC).

"Farmers and ranchers are the people responsible for feeding America. The last thing they need is to be subjected to intrusive, unnecessary, and overwhelming requirements from the government," said Senator Scott. "Instead of burdening these families with compliance paperwork, we should be looking for ways to support them and lighten an already heavy load."

"The authors of this rule clearly lack an understanding of how agriculture works. The publicly traded corporations overseen by the SEC won't be the ones tasked with complying with these onerous "value chain' rules. That responsibility would fall on America's family farmers and ranchers who would be forced to deal with unprecedented amounts of unnecessary paperwork. This is the last thing they need as they struggle in the face of record high input costs, supply chain bottlenecks, labor shortages, drought and other natural disasters," Boozman said.