During this week’s Cattle Industry Summer Business meeting, the National Cattlemen’s Beef Association (NCBA) announced it does support the Food and Energy Security Act introduced by Senator John Thune of South Dakota. The bill would require federal regulators to disclose how proposed rules would impact food and energy prices.
“The Biden administration proposed a massive climate disclosure rule that will create new reporting burdens for every farm, ranch, and small business in the country,” says NCBA Environmental Counsel Mary-Thomas Hart. “NCBA supports this legislation because rules like the emissions disclosure mandate from the Securities and Exchange Commission add a costly burden to cattle producers, rural communities, and consumers across the country.”
The bill would also prohibit federal regulators from implementing any rule that would increase food or energy prices if inflation is higher than 4.5 percent. Since the beginning of 2022, inflation has consistently been over seven percent, with the inflation rate hitting a forty-year high of 9.1 percent in June.
(From the National Association of Farm Broadcasters)