Sen. John Thune (R-SD) has introduced legislation to require federal regulators to disclose how proposed rules would impact food and energy prices.
The Food and Energy Security Act, S.4610, would also prohibit regulators from implementing any rule that would increase food or energy prices if inflation is higher than 4.5 percent. Inflation has been above 7 percent since the beginning of 2022, and it hit a 40-year high of 9.1 percent in June.
The bill has the support of the National Cattlemen’s Beef Association (NCBA). “NCBA is proud to support the Food and Energy Security Act because rules like the (Securities and Exchange Commission’s) emissions disclosure mandate add a costly burden to cattle producers, rural communities, and consumers across the country,” said NCBA Environmental Counsel Mary-Thomas Hart in a statement.
As of WLJ press time, the bill’s text had not yet been released.
