President Joe Biden’s administration is moving forward with a host of regulatory priorities initially set in 2021, despite a recent decision by the US Supreme Court that restricts the power of federal agencies. The decision in Loper Bright Enterprises v. Raimondo eliminated a longstanding legal doctrine that allowed agencies to interpret ambiguous laws.
The administration’s latest regulatory agenda, issued by the White House’s Office of Information and Regulatory Affairs (OIRA), outlines over 2,300 regulatory items. This spring’s agenda is likely the last one before the upcoming November election, signaling that the administration is keen to cement its priorities before Americans head to the polls.
Among the new items on the agenda, the US Equal Employment Opportunity Commission plans to propose a rule on collecting compensation data from employers next year. The Treasury Department is also working on new regulations regarding international income, energy credits, and corporate and partnership tax maneuvers.
The Consumer Financial Protection Bureau is set to address “mortgage refinancing and closing costs,” following its initial public consultation in May. Meanwhile, the Environmental Protection Agency (EPA) has scheduled additional changes for existing coal-fired power plants, planning to propose greenhouse gas emission guidelines by December 2024.
Curbing climate change remains a significant focus, as evidenced by the Securities and Exchange Commission (SEC) delaying two rules in its regulatory agenda. The agency plans to update regulations requiring companies to disclose workforce details and to mandate more transparency in investment companies’ environmental, social, and governance practices by October.
Critics argue that the Supreme Court’s ruling in Chevron will make it more challenging for the Biden administration to defend its rules in federal court. As the administration pushes forward, the legal landscape for these regulations remains uncertain, potentially impacting the efficacy and longevity of Biden’s policy initiatives.
For more detailed coverage, visit Bloomberg Law’s report on the Biden administration’s response.