Reps. Goldman, Arrington, Steube Introduce Bill to Counter the EU’s Corporate Sustainability Regulations on American Businesses

WASHINGTON, DC - Today, Reps. Craig Goldman (TX-12), Jodey Arrington (TX-19), and Greg Steube (FL-17) introduced the Stop EU Overreach Act, which would direct an investigation into European Union (EU) environmental regulations that could impose more than $1 trillion in compliance costs on American businesses operating on U.S. soil.

"This important legislation will protect American businesses from the EU's woke regulations and extreme green energy mandates. These radical regulations on U.S. businesses would not only cost American businesses more than a trillion dollars, but also represent a clear overreach into American sovereignty," said Congressman Craig Goldman. "I'm grateful for the incredible support of my colleagues on this issue, as we fight to protect American businesses."

"American businesses should answer to American law, not to regulators in Brussels," said Rep. Greg Steube (R-Fla.). "The EU's sustainability mandates are a backdoor tax on our farmers, manufacturers, and small businesses that never voted for a single one of these rules. I'm co-leading the Stop EU Overreach Act with Reps. Goldman and Arrington to make sure USTR pushes back before this costs American jobs."

The Stop the EU Overreach Act would:

• Direct the U.S. Trade Representative (USTR) to launch a Section 301 investigation, under the U.S. Trade Act of 1974, into the EU's extraterritorial "sustainability" regulatory regime.
• Require the USTR to consider if the EU's use of the Corporate Sustainability Due Diligence Directive (CS3D), Corporate Sustainability Reporting Directive (CSRD), Deforestation Regulation (EUDR), and Carbon Border Adjustment Mechanism (CBAM) constitutes an unreasonable or discriminatory trade practice burdening U.S. commerce.
• Instruct the USTR to identify appropriate remedies to counter these burdens and promptly report its findings to the relevant committees in the U.S. House and Senate.

Background:

The EU is seeking to impose extreme environmental mandates on American companies operating outside of the EU. By forcing American businesses to adhere to costly foreign regulations on supply chains, reporting requirements, and environmental practices, these mandates distort free market competition, threaten American jobs, and disadvantage American producers and manufacturers in global markets.

The Stop EU Overreach Act is an America First policy that ensures American businesses answer to American law - not foreign bureaucrats.

Support:

The Stop EU Overreach Act is supported by Reps. Gus Bilirakis (FL-12), August Pfluger (TX-11), Randy Weber (TX-14), Earl "Buddy" Carter (GA-01), Warren Davidson (OH-08), Pete Sessions (TX-17), and the Small Business & Entrepreneurship Council.

Read the full text of the legislation here.

To learn more about Congressman Goldman and follow his work, visit his website and follow him on social media at @RepCraigGoldman.

For media inquiries, please contact [email protected].

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