Rex Tillerson and the Repeal of Section 1504
Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, released a statement following the introduction of Rep. Bill Huizenga’s (R-MI) resolution to repeal Section 1504 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank):
Today, the compulsive Republican Party took the first step in repealing the hard work of Democrats to make companies more accountable to American taxpayers. Section 1504 of Dodd-Frank was specifically designed to increase transparency and eliminate corruption, requiring companies to publically disclose payments made to foreign governments for oil, gas and mining resources. The American people have a right to know where Big Oil is drilling and who they’re paying, especially if it involves countries that have been hostile to the United States.