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What Will the Midterms Mean for Big Business?

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Atlanta-based Delta Air Lines could also be called in to testify. why? Delta Air Lines CEO Ed Bastian says Georgia’s 2021 voting rights bill ‘unacceptable’ and ‘based on lies’ critics for making it harder for minorities to vote said.

Nineteen Republican Attorneys General are investigating the climate change policies of the six largest US banks. “Financial companies pushing to reduce their use of fossil fuels will be under pressure,” Mr. Clifton said.

But the ones most likely to come under scrutiny, according to Republican strategists, are giant asset management firm BlackRock and its chief executive, Larry Fink. Just this week, BlackRock revealed details of its efforts to give investors direct voting rights on its shares. This is one response to criticism that BlackRock is too influential. In his annual letter to the CEO, Fink makes a strong case that climate-based targets and his ESG more generally are important to both society and corporate bottom line. Shareholders wrote in a recent letter that they “need to know where we stand on the social issues inherent in our long-term success.”

One of those who argued against that companies should stick to making money and abandon ESG and politics was investor Vivek Ramaswamy. His book, “Woke Inc.: Inside Corporate America’s Social Justice Scam,” has great influence within the Republican Party. Last spring, for example, Mr. Ramaswamy spoke at a House Republican retreat in Florida. “What I had to say was very well received,” he told me.

Then there are areas where Republicans are more likely to support companies because their positions are so aligned with corporate goals. Mr. Clifton told me that Republicans would push hard to expand energy infrastructure, such as pipelines from Canada.

Both Republicans and big business want deregulation. With Republicans in charge, Congressional committees will question the actions of Democratic agency heads. Has the National Labor Relations Board become too pro-union, especially in its dealings with Amazon? Where is the power of the SEC to issue a proposed rule on climate-related disclosures? In a strongly worded letter to its director, Rohit Chopra, a group of Republican senators described the CFPB as pursuing a “radical and highly politicized agenda unconstrained by statutory restrictions.” Is FTC Chairman Rina Kern moving the FTC too far to the left?

Long Republican target, trade magazine, when it comes to Environmental Protection Agency E&E News predicts “hours of public hearings,” “letters requesting documents from every corner of the government,” and “even text message subpoenas.”

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