Bill > SJRes9

This joint resolution aims to formally disapprove a rule issued by the Commodity Futures Trading Commission (CFTC) regarding the listing of voluntary carbon credit derivative contracts. Specifically, the resolution targets guidance published in the Federal Register on October 15, 2024, which provides regulatory instructions for carbon credit derivatives trading. By passing this resolution, Congress would effectively nullify the CFTC's guidance, preventing it from having any legal force or effect. The resolution utilizes a congressional review mechanism outlined in Chapter 8 of Title 5 of the United States Code, which allows Congress to review and potentially overturn federal agency rules and regulations. In this case, the resolution suggests that the CFTC's guidance on carbon credit derivatives is not acceptable and should be invalidated, potentially reflecting concerns about the proposed regulatory approach to these financial instruments related to carbon credits and climate-related financial trading.

Agriculture and Natural Resources

https://www.congress.gov/bill/119th-congress/senate-joint-resolution/9/all-info