WASHINGTON – U.S. Senator Joni Ernst (R-Iowa), a member of the Senate Committee on Agriculture, Nutrition, and Forestry, joined her colleagues in an effort to shine a light on the real world impact of the Biden administration’s environmental, social, and governance (ESG) regulations, and prohibit new rules from further crippling the American economy, specifically American agriculture and energy producers.
The senators, led by Senator John Thune (R-S.D.), this week introduced the Food and Energy Security Act which would require federal financial and securities regulators to estimate the impact of their regulations on affected businesses in the agriculture or energy supply chains. If any rules are estimated to drive up food, energy, or gas prices, the regulators would be prohibited from implementing the regulations during times of high inflation.
“Right now, we are seeing Iowans turn to pawn shops and dip into retirements just to make ends meet,” said Senator Ernst. “Meanwhile the Biden administration continues to push their liberal agenda instead of focusing on economic relief for Americans across the country. This legislation forces the Biden administration to examine the real-world impacts that their liberal fantasies have on our country and the pain it’s causing Americans at every turn.”
The legislation has received widespread support from organizations like the National Federation of Independent Business (NFIB), National Mining Association (NMA), and National Cattlemen’s Beef Association (NCBA).