ESG Disclosure Simplification Act of 2021

Floor Speech

Mr. Speaker, my amendment to this bill is very simple. It would ensure that this important legislation does not place undue burden on small businesses.

In so many areas throughout my district, our Main Street businesses are just now finally getting back on their feet. They have faced unprecedented challenges during this past pandemic year. In fact, one small business owner in Auburn almost didn't apply for any Federal financial assistance because she was so overwhelmed by the potential paperwork.

Even before the pandemic, small businesses were bogged down with paperwork and administrative burdens, things that can be easily handled by a large corporation but that really are too much of a burden and can put a Main Street shop out of business.

When we implement this legislation, we should also understand what effect it will have on small businesses and make it as easy as possible for them to disclose this important information.

That is why my amendment requires the Sustainable Finance Advisory Commission to study issues small businesses may face when complying with requirements of this bill and order recommendations to ease regulatory burdens for these businesses.

As we move forward in creating transparency for large corporations, it is important that we do so without creating burdens that could really hamper the recovery of small businesses.

This is a commonsense amendment, and I urge my colleagues to support its adoption.

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Ms. SCHRIER. Mr. Speaker, I thank my colleague for his commendation on the amendment.

Waters), the chairwoman of the House Committee on Financial Services.

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Ms. SCHRIER. Mr. Speaker, I urge my colleagues to support this amendment that is a commonsense amendment to support our local small businesses.

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