Today, the Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), issued a statement regarding two landmark Supreme Court decisions. These decisions overturned the deference precedent set forth in Chevron v. Natural Resources Defense Council and reined in the Securities and Exchange Commission’s in-house courts in SEC v. Jarkesy.
“Today’s Supreme Court decision is a critical rebuke of the administrative state’s outsized influence over the lawmaking process,” said Chairman McHenry. “For too long, unelected bureaucrats have abused their power to circumvent Congressional intent. The decisions handed down by the Court this week, from the overturning of Chevron to SEC v. Jarkesy, offer a welcome check to this Administration’s overzealous regulators and their weaponization of the federal bureaucracy. Committee Republicans will continue to hold President Biden’s financial regulators accountable and reject their efforts to inject partisan political objectives when implementing laws that govern our financial system.”