Berks County News

Yesterday, the House of Representatives passed H.R. 4790, the Prioritizing Economic Growth Over Woke Policies Act, introduced by Congressman Bill Huizenga. The bill includes a provision authored by Rep. Dan Meuser (R-PA), H.R. 4653, the Protecting U.S. Business Sovereignty Act.

Rep. Meuser’s legislation specifically targets foreign overreach by addressing the European Union's Corporate Sustainability Due Diligence Directive (CSDDD), requiring the Securities and Exchange Commission (SEC) to study how this EU directive affects U.S. businesses.

CSDDD imposes environmental and social mandates on U.S. businesses operating in European markets, which could impact U.S. economic sovereignty and harm the economy. Any U.S. business generating $100 million in revenue in the EU is required to comply or face penalties.

"Let me be clear—Republicans are not against ESG as an investment choice," said Congressman Meuser. "If individual investors want to prioritize environmental, social, or governance factors, that’s their freedom. What we oppose is when these ideological views are mandated—when investors and businesses are forced to comply with burdensome regulations that prioritize political ideology over profitability."

Congressman Meuser’s legislation aims to prioritize economic growth, limit regulatory overreach, and safeguard the freedom of choice for American investors. He urges the Senate to pass this legislation swiftly to protect American businesses and investors from what he considers harmful mandates.

The text of H.R. 4653 can be found here.

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