U.S. President Donald Trump signed the House Joint Resolution 41— a bill that invalidates the transparency rule for publicly-traded energy companies established by Securities and Exchange Commission (SEC) as mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act.
On July 27, 2016, the SEC finalized a rule designed to eliminate corruption by requiring publicly-traded oil, gas, and mining companies to disclose payments made to foreign governments in exchange for the commercial development of natural resources.
Pres. Trump says the H.J. Res. 41 is a “big deal” because it would help bring back energy jobs. He said, “Lots of people going back to work now.”
The Trump administration believes the SEC transparency rule “would impose unreasonable compliance costs on American energy companies that are not justified by quantifiable benefits.”
The White House also believes that it puts American businesses in a “competitive disadvantage in cases where their foreign competitors are not subject to similar rules.”
Earlier this month, the White House issued a statement indicating its strong support to the House, which started taking steps to nullify unnecessary regulations imposed on American companies that force jobs out and discourages doing business in the United States.
Trump asks National Security adviser to resign
Meanwhile, during a press briefing, White House spokesman Sean Spicer said Pres. Trump lost confidence in his national security adviser Michael Flynn and asked for his resignation. He said, “The issue pure and simple, came down to a matter of trust.” Flynn stepped down on Monday.
Spicer also said Pres. Trump knew that Flynn has been misleading the White House for weeks regarding his contacts with Russia. Flynn had a conversation with the ambassador of Russia to the United States before Trump took his oath as president. Flynn denied to Vice President Mike Pence that he discussed U.S. sanctions with Russian Ambassador Sergei Kislyak. In late January, the Department of Justice warned that Flynn misled the Vice President.
“The White House counsel informed the President immediately. The President asked them to commit a review whether there was a legal situation there. That was immediately determined there wasn’t. That was what the President believed at the time from what he had been told and he was proved to be correct. We got a point not based on a legal issue, but based on a trust issue,” according to Spicer.
Lawmakers call for deeper investigation on Flynn’s actions
Some of the leading Democrats and Republicans are calling for a deeper investigation to determine whether Flynn’s action was illegal.
In a statement, Senator Mark Warner (D-VA), vice chairman of the Senate Select Committee on Intelligence, said, “Reports that the White House may have been briefed weeks ago on the nature of Gen. Flynn’s calls raise deeply troubling questions. The American people deserve to know at whose direction Gen. Flynn was acting when he made these calls, and why the White House waited until these reports were public to take action.”
Republican Senators Bob Corker and John Cornyn said the Senate Intelligence Committee should investigate Flynn’s connections with Russia and he should testify at a congressional hearing.
“I think there’s an orderly process to make sure we get accurate information and we can get the appropriate oversight, and that’s what we ought to do,” said Sen Cornyn as quoted by CNN.
In an interview with KTRS radio, Senator Roy Blunt, a member of the Senate Intelligence Committee, said it is imperative for lawmakers to talk to Flynn soon.
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