{"id":507183,"date":"2022-11-06T05:57:47","date_gmt":"2022-11-06T02:57:47","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/gop-looks-to-roll-back-biden-administrations-radical-economic-agenda\/"},"modified":"2022-11-06T05:57:47","modified_gmt":"2022-11-06T02:57:47","slug":"gop-looks-to-roll-back-biden-administrations-radical-economic-agenda","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/gop-looks-to-roll-back-biden-administrations-radical-economic-agenda\/","title":{"rendered":"#GOP looks to roll back Biden administration&#8217;s radical economic agenda"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a4f26f9d77fd\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a4f26f9d77fd\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/gop-looks-to-roll-back-biden-administrations-radical-economic-agenda\/#%E2%80%9CGOP_looks_to_roll_back_Biden_administrations_radical_economic_agenda%E2%80%9D\" >&#8220;GOP looks to roll back Biden administration&#8217;s radical economic agenda&#8221;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/gop-looks-to-roll-back-biden-administrations-radical-economic-agenda\/#Zeroing_out_ESG\" >Zeroing out ESG<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CGOP_looks_to_roll_back_Biden_administrations_radical_economic_agenda%E2%80%9D\"><\/span>&#8220;GOP looks to roll back Biden administration&#8217;s radical economic agenda&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<div class=\"inline-module inline-module--columnist inline-module--author\">\n<div class=\"inline-module--author__img\">\n            <img decoding=\"async\" width=\"76\" height=\"69\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2013\/08\/Gasparino_Charles_headshot.png?w=76&amp;h=69&amp;crop=1\" class=\"attachment-nyp_columnist size-nyp_columnist\" alt=\"Charles Gasparino\" loading=\"lazy\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2013\/08\/Gasparino_Charles_headshot.png?w=152 152w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2013\/08\/Gasparino_Charles_headshot.png?w=114 114w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2013\/08\/Gasparino_Charles_headshot.png?w=76 76w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2013\/08\/Gasparino_Charles_headshot.png?w=38 38w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2013\/08\/Gasparino_Charles_headshot.png 706w\" sizes=\"auto, (max-width: 76px) 100vw, 76px\"\/><\/div>\n<\/div>\n<\/aside>\n<p>It\u2019s always dangerous to divvy up the spoils of war before achieving victory, but the GOP\u2019s congressional leadership <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears to be moving in that direction anyway.<\/p>\n<p>So confident they will take the majority in the House and probably the Senate in Tuesday\u2019s midterms, key members have been quietly plotting how to make life difficult for the Biden administration, particularly on its radicalized economic agenda.<\/p>\n<p>Sure, even in the best-case scenario (winning both chambers), Republicans will face long odds pushing through new legislation. They still need President Biden\u2019s signature and will likely lack a \u00adveto-proof majority in the Senate.<\/p>\n<p>Yet people who have spoken to GOP leadership tell me plans are taking shape to attack economic policy enacted while Biden and the Dems enjoyed a majority in Congress for two long and disastrous years.<\/p>\n<p>Again, nothing revolutionary, but Republicans feel they can shape the debate. Put bills on Sleepy Joe\u2019s desk demanding he end his war on domestic oil production, which has helped fuel massive inflation, and others to loosen his anti-business regulatory agenda that has stymied growth as the economy falls into recession.<\/p>\n<p>They will block lefty nominees to key Cabinet and regulatory posts that need Senate approval (bye-bye to far-left telecom lawyer Gigi Sohn at the FCC), and wield Congress\u2019s power of the purse (no more stimulus checks or tax increases) to reduce spending and spur some growth.<\/p>\n<p>Then Republicans will turn to another regulatory agency: The Securities and Exchange Commission.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/gary-gensler-2.jpg?w=1024\" alt=\"Securities and Exchange Commission Chairman Gary has spent the past two years making radical transformations to the SEC.\" class=\"wp-image-24546300\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/gary-gensler-2.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/gary-gensler-2.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/gary-gensler-2.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Securities and Exchange Commission Chairman Gary Gensler has transformed <\/figcaption><figcaption><span class=\"credit\">REUTERS\/Evelyn Hockstein<\/span><\/figcaption><\/figure>\n<p>Gary Gensler, a former Wall Street banker and academic, is the chair of the agency, appointed by Sleepy Joe nearly two years ago supposedly to protect investors from scammers.<\/p>\n<p>Instead, Gensler is transforming the SEC in ways not even moderate Dems on Wall Street had ever imagined. He\u2019s launched an all-out war against the crypto industry that is stifling innovation because developers don\u2019t know if their digital coins associated with block-chain <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> will result in an SEC lawsuit. He wants to remake the structure of the stock market that appears to be working just fine because progressives think Wall Street is making too much money.<\/p>\n<aside class=\"single__inline-module alignright\">\n    <\/aside>\n<p>And that\u2019s probably not the worst of it.<\/p>\n<p>He and his Dem colleagues on the commission approved a cockamamie set of standards imposed by the Nasdaq stock market that is intended to make every listed company disclose and meet progressive board-diversity mandates. (Noticeably exempted: All those Chinese companies listed on the exchange as Nasdaq slipped in a loophole where they can skip appointing members of the country\u2019s oppressed ethnic minorities.)<\/p>\n<p>Now he wants to make the Nasdaq model de rigueur across corporate America. In documents to investors, Gensler wants public companies to make sweeping disclosures on how they are reducing their carbon footprint, on top of revealing the racial and ethnic makeup of their workforce.<\/p>\n<p>Its questionable how any of this gets to the SEC\u2019s core mission of protecting investors, or leads to better-run companies. But with Dems in charge, Gensler is full steam ahead as he seeks to kiss up to progressives, including his patron, lefty Massachusetts Sen. Elizabeth Warren. Gensler is angling to be Treasury secretary when the current occupant, Janet Yellen steps down as expected next year.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/elizabeth-warren-2.jpg?w=1024\" alt=\"Gensler has been kissing up to progressives like Sen. Elizabeth Warren as he attempts to become the next Treasury Secretary.\" class=\"wp-image-24546294\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/elizabeth-warren-2.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/elizabeth-warren-2.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/elizabeth-warren-2.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Gensler has been kissing up to progressives like Sen. Elizabeth Warren as he attempts to become the next Treasury Secretary.<\/figcaption><figcaption><span class=\"credit\">AP Photo\/Charles Krupa<\/span><\/figcaption><\/figure>\n<p>A Republican congressional sweep \u00adnegates the Gensler Treasury possibility, I am told. The Senate will hold hearings on what the GOP believes is his radical transformation of the agency.<\/p>\n<p>He and his deputies will face scrutiny by the House Financial Services Committee that would be run by North Carolina Republican Patrick McHen\u00adry, as well as questioning by subcommittees. By keeping Gensler and his lackeys on the Hill, they will have less time to muck up the markets.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Zeroing_out_ESG\"><\/span>Zeroing out ESG<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In the Senate, plans are also in place to put so-called riders on must-pass spending bills to zero out Gensler\u2019s ESG\/diversity stuff. Biden will have a choice of either agreeing to the partial defunding of SEC activities and signing spending bills, or face a legislative stalemate.<\/p>\n<aside class=\"single__inline-module alignleft\">\n    <\/aside>\n<p>Another set of hearings will target the corporate enablers of the Dems\u2019 progressive economic agenda. Retiring Pennsylvania Republican Sen. Pat Toomey has been requesting information from companies involved in Environmental <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Social<\/a> Governance investing, which is a big moneymaker on Wall Street but, he believes, anti-consumer and politically fraught.<\/p>\n<p>Toomey and top Republicans believe this investment method has forced companies to adopt progressive positions on the environment and other contentious issues at the worst possible time. By late 2021, inflation and gas prices in particular were already spiking because of Biden\u2019s anti-drilling energy agenda while pandemic lockdowns ended.<\/p>\n<p>The subsequent war in Ukraine further eroded oil inventories and added more price pressure. Asset managers pushing ESG mandates made a bad situation exponentially worse by threatening to direct money away from energy producers that didn\u2019t further cut back production.<\/p>\n<p>Once in the majority, Republicans will have subpoena power over massive asset managers, and to compel Wall Street firms to turn over the information and defend their practices at public hearings \u2014 which I am told is the plan.<\/p>\n<p>Of course, all bets are off if the GOP loses Tuesday. the task of squeezing Biden\u2019s leftward lurch on the economy becomes more difficult if the GOP takes just the House.<\/p>\n<p>But Republicans are thinking big and, if they\u2019re right, let\u2019s get ready to rumble!\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/11\/05\/gop-looks-to-roll-back-biden-administrations-radical-economic-agenda\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;GOP looks to roll back Biden administration&#8217;s radical economic agenda&#8221; It\u2019s always dangerous to divvy up the spoils of war before achieving victory, but the GOP\u2019s congressional leadership appears to be moving in that direction anyway. So confident they will take the majority in the House and probably the Senate in Tuesday\u2019s midterms, key members&#8230;<\/p>\n","protected":false},"author":1,"featured_media":507184,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/newspress-collage-24546138-1667699723726.jpg?quality=75&strip=all&1667685370&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[135113,52214,77105,118979,991,134320,67844,73809],"class_list":["post-507183","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-11-5-22","tag-congress","tag-elizabeth-warren","tag-gary-gensler","tag-joe-biden","tag-midterm-elections-2022","tag-republicans","tag-treasury-department"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/507183","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=507183"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/507183\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/507184"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=507183"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=507183"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=507183"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}