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    • The future of US aid

    Congressional resolution aims to eliminate rule on extractive transparency

    Using an expedited review process, Congress is looking to strike down an anti-corruption rule more than six years in the making that requires oil and mining companies to publish what they pay foreign governments.

    By Adva Saldinger // 31 January 2017

    The rules committee of the U.S. House of Representatives heard brief testimony on Monday evening about a joint resolution that would eliminate a rule requiring publicly traded oil and mining companies in the U.S. to publish what they pay foreign governments.

    The rule is the Securities and Exchange Commission’s implementation of the Cardin-Lugar amendment, or Section 1504, which passed as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act in 2010. Proponents of the provision say it is critical for anti-corruption efforts around the world and enables local communities to hold their governments accountable and ensure payments are used to provide critical services, such as health care or education.

    But a joint resolution, which is likely to be considered on the House floor as early as Wednesday, seeks to strike down that rule using an expedited process through the Congressional Review Act, which gives Congress the power to review and overturn recent rules.

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    • Democracy, Human Rights & Governance
    • United States
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    About the author

    • Adva Saldinger

      Adva Saldinger@AdvaSal

      Adva Saldinger is a Senior Reporter at Devex where she covers development finance, as well as U.S. foreign aid policy. Adva explores the role the private sector and private capital play in development and authors the weekly Devex Invested newsletter bringing the latest news on the role of business and finance in addressing global challenges. A journalist with more than 10 years of experience, she has worked at several newspapers in the U.S. and lived in both Ghana and South Africa.

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