Thanks for posting that. I had tried to read more about this because I wasn't really understanding the need for this rule or how it would help prevent corruption. The part in bold helps a little bit. I often get frustrated with news about various regulations because if there isn't sufficient information about what the regulation does then it's hard to form an opinion.Swamp? What swamp?
In unusual vote that began before dawn, Congress kills rule forcing payment disclosures by companies
Rex Tillerson Tried to Get This Rule Killed. Now Congress Is About to Do It for Him
Should oil companies disclose payments to foreign governments? The GOP, and former Exxon CEO, think not.
The leader of the world’s most valuable company doesn’t typically fly to Washington to fight one obscure amendment to a 2,300-page bill, especially a motherhood-and-apple-pie-style amendment designed to prevent and expose corruption abroad. But back in 2010, ExxonMobil’s then-CEO, Rex Tillerson, was deeply worried about Section 1504 of the Dodd-Frank Wall Street reforms, a bipartisan amendment that required drilling and mining companies to disclose any payments they make to foreign governments. So Tillerson and one of his lobbyists paid a half-hour visit to the amendment’s Republican co-author, then-Senator Richard Lugar, to try to get it killed.
Tillerson argued that forcing U.S. oil firms to reveal corporate secrets—such as paying foreign governments—would put them at a competitive disadvantage. He also explained that the provision would make it especially difficult for Exxon to do business in Russia, where, as he did not need to explain, the government takes a rather active interest in the oil industry. But Lugar believed greater transparency could help alleviate the “resource curse” of corruption that plagues so many mineral-rich countries, so he told Tillerson they would have to agree to disagree. Section 1504 stayed in the bill, the bill became law, and the disclosure requirement became an international example: France, Canada and the United Kingdom all went on to use it as a model for similar rules.
Today, seven years later, Republicans confirmed Tillerson as President Trump’s secretary of state, despite allegations that he’s too cozy with Russia. At the same time, the GOP is preparing to try to kill the disclosure rule created under Section 1504, despite warnings from international aid groups that the move would provide a wink-and-nod blessing to hidden corporate payments to petro-thugs. The House is expected to act this afternoon, and since the move relies on a special mechanism for reversing rules enacted late in a presidential term, Senate Republicans will need a mere majority rather than a filibuster-proof 60 votes to follow suit.
So after all of Trump’s promises to drain the swamp, an anti-anti-corruption bill pushed by Big Oil and his own top diplomat might be the first policy legislation to reach his desk.
Same goes for the stream protection rule in your next post. I'm generally in favor of environmental rules but some critics argue that there are already rules in place that cover it so this is an unnecessary rule that just adds an extra burden. I don't have enough info to know which is true.