U.S. House Committee Passes Mooney Bill on Coal Regulations
U.S. Rep. Alex Mooney.
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The U.S. House of Representatives Financial Services Committee passed a bill Wednesday that would repeal regulations requiring mining companies to report safety violations to one government agency.
If House Resolution 4289 becomes law, mining companies would no longer be required to report the number of safety violations and citations, including mining-related fatalities, to the Securities and Exchange Commission. The reporting is currently required under the Dodd-Frank financial regulatory law, which was passed in light of the 2008 financial crisis.
The bill passed the committee in a 33-25 vote.
Rep. Alex Mooney, R-W.Va., introduced the bill earlier this month. He said in a release the regulation requires the SEC to do work already being done by the Department of Labor’s Mine Safety and Health Administration.
“President Donald Trump has renewed his commitment to reversing the damage done by former President Barack Obama’s War on Coal. The passage of this bill represents one part of our ongoing efforts to revitalize the coal industry and brings jobs back to West Virginia,” he said.
The regulation was included in the Dodd-Frank financial regulatory law after being introduced by then-Sen. Jay Rockefeller, D-W.Va., and late Democratic Sen. Robert Byrd.
Source: MetroNews
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