Referred to the Subcommittee on Commodity Markets, Digital Assets, and Rural Development.
This resolution uses the Congressional Review Act to reject a recent agency guidance and stop it from taking effect. If enacted, the joint resolution would nullify that guidance and bar the agency from issuing a substantially similar rule without new congressional authorization. The resolution must be passed by both chambers and presented to the President for signature or veto override, while the Senate considers such disapproval measures under expedited procedures.
Commission Guidance Regarding the Listing of Voluntary Carbon Credit Derivative Contracts (89 Fed. Reg. 83378, October 15, 2024).
Commodity Futures Trading Commission (CFTC)
Under the Congressional Review Act, disapproval measures receive expedited consideration in the Senate and can pass with a simple majority without being subject to a filibuster. If the President signs the joint resolution (or Congress overrides a veto), the guidance is nullified and the agency is blocked from issuing a substantially similar rule without new legislation.
This joint resolution seeks to disapprove and nullify the Commodity Futures Trading Commission’s guidance titled “Commission Guidance Regarding the Listing of Voluntary Carbon Credit Derivative Contracts” (89 Fed.
Reg. 83378).
If enacted, the resolution would render that specific CFTC guidance without force or effect under the Congressional Review Act.
Content is narrow and administratively simple, improving chances, but political controversy and need for both chambers plus executive approval lower overall odds.
Relative to its intended legislative type, this bill is a concise Congressional Review Act disapproval that clearly identifies and nullifies a single CFTC guidance. Its drafting is minimal but adequate for effectuating the intended statutory outcome.
Progressives emphasize climate finance and market-building benefits.
These are examples from the analysis, not a ranked list of the most-affected groups.
Progressives emphasize climate finance and market-building benefits.
Likely opposed to the resolution because it would block federal guidance that facilitates transparent carbon-derivative markets.
Prefers strong regulation and market structures that support climate finance and accountability, while also seeking safeguards against bad carbon credits.
Mixed view: sees legitimate concerns about voluntary carbon market integrity and fraud, but also values regulatory clarity for markets.
Would favor revising or improving guidance rather than an outright nullification without substituting clear rules.
Generally supportive because the resolution rolls back federal facilitation of voluntary carbon credit derivatives.
Views include skepticism of carbon-credit markets and opposition to expanded regulatory involvement in energy and commodity markets.
Reached or meaningfully advanced
Reached or meaningfully advanced
Still ahead
Still ahead
Still ahead
Content is narrow and administratively simple, improving chances, but political controversy and need for both chambers plus executive approval lower overall odds.
The bill has not accumulated any surfaced votes yet.
Progressives emphasize climate finance and market-building benefits.
Content is narrow and administratively simple, improving chances, but political controversy and need for both chambers plus executive appro…
Relative to its intended legislative type, this bill is a concise Congressional Review Act disapproval that clearly identifies and nullifies a single CFTC guidance. Its drafting is minimal but adequate for effectuating…
Go beyond the headline summary with full stakeholder mapping, legislative design analysis, passage barriers, and lens-by-lens tradeoff breakdowns.