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119-sjres-9119th CongressWALLET

A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Commodity Futures Trading Commission relating to "Commission Guidance Regarding the Listing of Voluntary Carbon Credit Derivative Contracts".

Sponsored By: Senator Kennedy, John [R-LA]

Introduced

Summary

Would disapprove the Commodity Futures Trading Commission's guidance on listing voluntary carbon credit derivative contracts. It would prevent the CFTC and market participants from implementing or relying on that guidance.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 0 costs, 1 mixed.

Stops federal guidance on carbon contracts

This joint resolution would disapprove the Commodity Futures Trading Commission's final guidance on listing voluntary carbon credit derivative contracts (89 Fed. Reg. 83378, Oct. 15, 2024). If enacted, that guidance would have no force or effect and the CFTC and market participants could not implement or rely on it. The change mainly affects exchanges, brokers, and traders that list or trade voluntary carbon credit derivatives. Most households would only see indirect effects.

Sponsors & CoSponsors

Sponsor

Kennedy, John [R-LA]

LA • R

Cosponsors

  • Sen. Sheehy, Tim [R-MT]

    MT • R

    Sponsored 1/30/2025

Roll Call Votes

No roll call votes available for this bill.

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