Guiding Uniform and Responsible Disclosure Requirements and Information Limits Act of 2023

Floor Speech

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Mr. MEUSER. Mr. Speaker, I thank my good friend, the chairman of the subcommittee and a great leader in Financial Services, for yielding.

Mr. Speaker, I rise today in support of H.R. 4790, the Prioritizing Economic Growth Over Woke Policies, as introduced by Mr. Huizenga.

This bill, Mr. Speaker, limits the disclosures that securities issuers must provide to the SEC, ensuring they only report information that is material to investors' decisionmaking.

H.R. 4790 also includes my bill, H.R. 4653, the Protecting U.S. Business Sovereignty Act.

My legislation defends American businesses from the overreach of foreign regulations like the EU's Corporate Sustainability Due Diligence Directive, which threatens U.S. businesses by imposing costly compliance burdens on U.S. businesses for participating even in a minor way in the EU.

Republicans are not against ESG, Mr. Speaker, as an investment choice. If individual investors want to prioritize environmental, social, or governance factors, that is their freedom. What we oppose is when these ideological views are mandated, when investors are forced to comply with burdensome regulations that prioritize political ideology over profitability, prioritize ideology over outcomes, which harms the economy and undermines the freedom to invest one's own wealth.

Mr. Speaker, I urge my colleagues to support this legislation. Let's choose economic growth and the freedom of choice for American investors.

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