Trump signs law rolling back disclosure rule for energy and mining companies

President Trump signed his first piece of legislation on Tuesday, a measure that could presage the most aggressive assault on government regulations since President Reagan. The bill cancels out a Securities and Exchange Commission regulation that would have required oil and gas and mining companies to disclose in detail the payments they make to foreign governments in a bid to boost transparency in resource-rich countries. It is the first of a series of bills Congress is considering that would take advantage of the Congressional Review Act of 1996, which had been used only once before today. The act gives a new president and Congress the power to revoke rules and regulations promulgated by the previous administration in its final 60 legislative days.