Congress One

The FENCES Act proposes changes to the Clean Air Act regarding how the Environmental Protection Agency (EPA) handles air quality standards. Currently, areas that fail to meet federal air quality goals can face financial penalties or stricter regulations. This bill would allow states to avoid these penalties if they can prove that their air quality issues are caused by factors outside their control, such as wildfires or pollution drifting in from other countries. States would need to provide this evidence to the EPA and renew their proof every five years to keep the exemption. The bill does not change the actual air quality standards themselves, nor does it remove the requirement for states to manage pollution sources within their own borders. It specifically addresses the legal consequences states face when they cannot meet federal targets due to external, international, or natural events.

H.J.Res. 90 is a resolution that seeks to overturn a 2024 guidance document issued by the Commodity Futures Trading Commission (CFTC). This guidance currently provides standards for exchanges that list "voluntary carbon credit" derivative contracts, which are financial products tied to carbon offset projects. If passed, this resolution would nullify the CFTC’s guidance, meaning the specific criteria the agency set for these financial products would no longer be in effect. This primarily affects the financial exchanges that list these contracts and the companies that trade them, rather than individual retail consumers. This resolution does not ban carbon credits or carbon trading itself. It specifically targets the regulatory framework the CFTC established to oversee how these financial products are listed on public exchanges.