“Under the Constitution, Congress has sole authority to enact legislation, and the SEC’s climate rule as enacted constitutes administrative overreach by a federal agency,” said Piazza. “Moreover, the SEC has no authority to address major climate policy questions absent clear Congressional intent to grant it such authority which did not happen in this instance.”
Bradshaw noted, “recent U.S. Supreme Court decisions set forth clear limits on the powers of federal agencies, and this challenge to the SEC’s climate rule is the most recent example of an agency exceeding its congressional mandate.”
The brief is filed in support of the petition by the Texas Alliance of Energy Producers and the Domestic Energy Producers Alliance to vacate the rule, one of multiple challenges filed against the SEC around the country since approving the rule in March 2024. Those challenges have been consolidated and are pending in the Eighth Circuit. In an uncharacteristic and unusual move, the SEC voluntarily stayed the date the rule was to become effective, a clear acknowledgment of the multiple and serious legal challenges pending before the Court of Appeals.
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