Good afternoon and welcome to our Weekend Update.
This week, I joined “The Big Money Show” on Fox Business to discuss the ESG (environmental, social and governance) movement and the Biden efforts to implement a Woke agenda. The ESG debate is not about climate change; it’s about following our laws and ensuring we safeguard investors' financial security from ideology. My new bill, the Protecting U.S. Business Sovereignty Act, will help protect American companies from EU mandates. Click here or below to watch my interview.
The Financial Services Committee conducted a hearing on ESG. The hearing was not about climate change but about ensuring the law is followed. The Investment Advisers Act says the primary responsibility of a fiduciary is to run a plan solely in the beneficiary's best interest – yet the SEC’s ESG mandates force fiduciaries to renege on their responsibility. Click here or below to watch my comments.
At a hearing of the Capital Markets Subcommittee, we continued to delve into this issue. Shareholders should vote only on items that are material to the value of a company. I pointed out that if climate disclosures were so critically important, companies would have already disclosed them by law. We need to focus on the law and take politics out of boardrooms. Click here or below to watch my remarks.
We examined the SBA’s Inspector General’s report of fraud in pandemic lending programs at a House Committee on Small Business hearing. It’s unacceptable that nearly $200 billion in Covid funding allocated by the SBA was fraudulent. Unfortunately, Administrator Guzman denied an invitation to appear, which was unhelpful. House Republicans will continue to fight to recover these funds and ensure this never occurs again. Click here or below to watch my comments.
The courts checked the SEC’s overreach. Financial Services Committee Republicans continue to counter the agency’s attack on SPACs and imposition of broad ESG mandates, as well as other statutory overreaches. Click here to read more.
The National Defense Authorization Act (NDAA) passed in the House strengthens our military and ensures the United States continues to have the most dominant fighting force in the world. It protects our national security, supports our troops, ensures our allies are providing proportional levels of funding for the Ukraine conflict, and counters China – among much more. I was happy to support it. Click here or below to watch my floor remarks.
Recently, I joined the “Julie Mason Show” on Sirius XM. We discussed ways to help small businesses thrive, the state of the economy under the Biden administration, and the Congressional Cigar Caucus. Click here or below to listen.
This week, we hosted the Executive Director of Williamsport Regional Airport, Richard Howell, in Washington. We discussed the upcoming FAA Reauthorization Bill and the steps I’m taking at the federal level to help restore commercial air service in Williamsport.
Additionally, I got to speak with Edward Tilly, the Chairman of the Board, President and Chief Executive Officer (CEO) of Cboe Global Markets, Inc. (Cboe). We discussed the state of markets and banking.
IN NEWS YOU WON’T HEAR IN THE MAINSTREAM MEDIA: While illegal immigrants and illicit drugs cross the border, Biden is literally letting border solutions decay.
This is a must-watch on the absurdity of Biden’s border wall obstruction.
Pieces of border wall have been sitting on this man’s property for two and a half years. He has no way or legal right to remove them. He only wants the government to use them to secure the border.
This is absurd and tragic. Unfortunately, it’s the perfect visual for Biden’s border crisis – a solution to the crisis is readily available, but Biden is letting it decay instead. The deadly chaos at the border is by design.
In the District, we had dinner at the world-famous Palermo Restaurant in Minersville. The best Italian food and steak... run by great owners, and the staff is the best. Obviously, great beer... and our company was pretty outstanding too... (Pictured with Dick Yuengling, Dominica, Dominick, my beautiful daughter Caroline and wife Shelley, and the one and only Frank Schoeneman)
Nothing like having a Yuengling with Yuengling… also joined by Former Schuylkill County Sheriff, former Congressman Tim Holden .. a great man in our community!
We look forward to catching up with you next week. God Bless, and see you soon,