Continuing Appropriations Resolution, 2014

This joint resolution, H.J. Res. 66, disapproves and nullifies the EPA rule published on January 21, 2025, which reinstated the Air Nuisance Rule (ANR) in Ohio's State Implementation Plan (SIP). The nullification means the ANR is removed from Ohio's SIP, reversing the EPA's determination that its original removal was in error. This action directly reduces environmental compliance costs and regulatory oversight for industrial and energy companies operating in Ohio, as they no longer face the stricter requirements of the ANR. The money trail for this legislative action is indirect but significant. Companies that would have invested in new pollution control technologies or faced fines for ANR violations now retain those capital expenditures. This effectively frees up capital for other investments or improves profit margins. There are no direct appropriations or grants associated with this bill; the financial impact comes from regulatory relief and cost avoidance. Historically, congressional disapprovals of EPA rules have provided immediate relief to affected industries. For example, in March 2017, Congress used the Congressional Review Act (CRA) to disapprove an Interior Department rule on Methane emissions, leading to a short-term positive sentiment for oil and gas producers. While specific stock movements are difficult to isolate solely to such regulatory reversals, the general trend indicates a favorable market response for companies facing reduced compliance costs. Similarly, the disapproval of the Stream Protection Rule in February 2017, also via CRA, benefited coal mining companies by removing costly environmental mandates. Specific winners include Ohio-based utilities and manufacturing companies. American Electric Power ($AEP), with significant operations in Ohio, benefits from reduced compliance costs related to air emissions. FirstEnergy Corp. ($FE), another major utility in Ohio, also sees a direct positive impact. DPL Inc., a subsidiary of AES Corporation ($AES) operating Dayton Power and Light, gains from this regulatory rollback. These companies avoid capital expenditures on new air pollution controls and potential fines. There are no direct losers, as the bill's intent is to remove a regulation, not impose new ones or penalize specific entities. This joint resolution has been introduced in the House. For it to take effect, it must pass both the House and Senate and be signed by the President. As a joint resolution of disapproval under the Congressional Review Act (CRA), it is subject to expedited procedures in the Senate, meaning it can bypass typical filibuster thresholds. The next step is consideration by the Committee on Energy and Commerce, followed by a vote in the House.