House - ending March 9
By Voterama in Congress
Capital formation, financial deregulation: Voting 390 for and 23 against, the House on March 8 sent the Senate a bill (HR 3606) to ease financial regulations in order to help emerging small and mid-sized businesses rapidly enter capital markets, attract investors and create jobs. The bill would enable up-and-coming firms with annual revenues under $1 billion to float initial public offerings (IPOs) without first having to register with the Securities and Exchange Commission. For these companies, the bill would waive for up to five years some of the investor-protection and corporate-governance rules imposed by the Sarbanes-Oxley financial-regulation law in 2002 and the Dodd-Frank law in 2010. A yes vote was to pass the bill.
North Dakota: Rick Berg-R voted yes.
South Dakota: Kristi Noem-R voted yes.
Shareholders' 'say on pay' rule: Voting 169 for and 244 against, the House on March 7 refused to retain say on pay'' and golden-parachute rules for companies receiving regulatory relief under HR 3606 (above). Those rules, included in the 2010 Dodd-Frank financial- regulation law, guarantee shareholders a chance to cast non-binding votes on levels of executive compensation and payments to departing executives. A yes vote was to pass the bill.
North Dakota: Berg-R voted no.
South Dakota: Noem-R voted no.
environmental rules: Voting 265 for and 154 against, the House on March 7 sent the Senate a bill (HR 2842) easing environmental rules so as to speed the placement of generators in man-made Bureau of Reclamation water conduits such as canals, aqueducts and pipelines. The generators would produce large amounts of electricity for residential, industrial and agricultural consumption. The bill would exempt these projects from the 1970 National Environmental Policy Act (NEPA), which requires federal agencies to assess the environmental impact of their construction projects. A yes vote was to pass the bill.
North Dakota: Berg-R voted yes.
South Dakota: Noem-R voted yes.
Senate - ending March 9
Keystone XL pipeline: Voting 56 for and 42 against, the Senate on March 8 failed to reach 60 votes for stipulating that Congress, under the commerce clause of the Constitution, has authority to approve the proposed Keystone XL pipeline from Alberta, Canada, to refineries in Texas. The amendment to a pending transportation bill (S 1813) would shift authority that now resides with the State Department and White House because of the pipeline's international reach. A yes vote backed the amendment.
South Dakota: Tim Johnson-D voted no. John Thune-R voted did not vote.
Keystone-oil export ban: Voting 33 for and 65 against, the Senate on March 8 rejected an amendment to S 1813 (above) requiring oil refined from crude shipped in the Keystone XL pipeline to be kept in the United States. A yes vote backed the amendment.
North Dakota: Conrad-D voted yes. Hoeven-R voted no.
South Dakota: Johnson-D voted yes. Thune-R voted did not vote.
Clean-air rule delay: Voting 52 for and 46 against, the Senate on March 8 failed to reach 60 votes for requiring the Environmental Protection Agency to delay and rewrite its proposed Boiler MACT'' rule. A yes vote was to delay the rule.
North Dakota: Conrad-D voted no. Hoeven-R voted yes.
South Dakota: Johnson-D voted no. Thune-R voted did not vote.
Key votes ahead
In the week of March 12, The Senate will seek to pass a $106 billion transportation bill and may take up a House-passed bill making it easier for companies with revenue under $1 billion to enter capital markets. The House may take up the Senate-passed transportation bill.