McHenry Statement on SCOTUS Decisions Limiting Bureaucratic Overreach

Washington, June 28, 2024 -

Today, the Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), issued the following statement regarding two landmark Supreme Court decisions overturning the deference precedent set forth in Chevron v. Natural Resources Defense Counciland reining 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."

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