A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Environmental Protection Agency relating to "Air Plan Disapproval; Colorado; Regional Haze Plan for the Second Implementation Period".
Summary
S.J.Res.139, which would have nullified an EPA rule disapproving Colorado's regional haze plan, was rejected in the Senate on April 29, 2026 (46-52). The bill failed, so the EPA's disapproval remains in effect, maintaining current regulatory requirements for Colorado energy producers. The legislative path for this specific relief is closed for this session. Market impact is minimal, as the bill was early-stage and already defeated.
See which stocks are affected
Key takeaways, market implications, full AI analysis, and connected signals are available to HillSignal members.
Already have an account? Log in
Key Takeaways
- 1.S.J.Res.139 was rejected in the Senate (46-52). The bill is dead for the 119th Congress.
- 2.No regulatory relief for Colorado energy producers — the EPA's disapproval of the state's haze plan stands.
- 3.Minimal market impact due to early-stage failure; broader midstream trends driven by other factors.
Market Implications
The failure of S.J.Res.139 removes a potential near-term catalyst for Colorado-focused midstream operators. $KMI and $EPD have small Colorado exposure relative to their overall portfolios, so the impact is marginal. The broader 7-day uptrend in $KMI (+2.87%) and $EPD (+1.53%) appears driven by the DPA energy infrastructure orders (April 20) and general sector momentum, not this bill. Investors with exposure to Colorado-focused operators should track state-level rulemaking from the Colorado Department of Public Health and Environment (CDPHE) for the next compliance pathway. The rejected bill does not change the fundamental earnings outlook for these companies.
Full Analysis
- What happened and its current status: S.J.Res.139 was introduced on March 19, 2026, by Senator Bennet (D-CO) with two cosponsors. It aimed to use the Congressional Review Act (CRA) to disapprove an EPA rule that had rejected Colorado's regional haze plan for the second implementation period. On April 29, 2026, the Senate voted 46-52 against a motion to proceed to consideration, effectively killing the resolution for this legislative session. The bill is dead. 2) The money trail: This is a CRA joint resolution with zero authorized or appropriated funding. Its sole effect would have been regulatory relief — removing compliance obligations under the EPA's disapproved rule. Since it failed, no regulatory relief was granted. 3) Structural winners and losers: The direct loser is Colorado energy and industrial operators who sought relief from potential federal enforcement of the EPA's disapproval of the state plan. Companies with significant Colorado exposure include midstream operators Kinder Morgan ($KMI) and Enterprise Products Partners ($EPD). However, the practical impact is currently limited because the EPA rule at issue disapproved a state plan — the actual compliance requirements will now be determined through Colorado's state implementation or subsequent federal rulemaking. 4) Real market data analysis: $KMI closed at $32.65 on April 30, up 2.87% over the prior 7 days but down 2.62% over 30 days. $EPD closed at $38.58, up 1.53% over 7 days and up 1.96% over 30 days. These recent price movements show broader midstream bullish sentiment relative to the preceding month, but the failed bill is not driving these trends given its small scope and early-stage failure. 5) Timeline: The bill is defeated with no further legislative path in this Congress. The EPA's underlying rule (published Jan 26, 2026) remains in effect. Colorado will need to revise its haze plan or face federal implementation.
Intelligence Surface
Cross-referenced against federal contracts, SEC insider filings & congressional trade disclosures
No confirming evidence found yet from contracts, insider trades, or congressional activity
What the bill does
Congressional disapproval (CRA) to nullify an EPA rule that had disapproved Colorado's regional haze plan. The bill would remove the requirement for Colorado energy producers and industrial manufacturers to comply with federal measures under the disapproved plan, reducing regulatory compliance costs.
Who must act
Colorado-based energy producers and oil & gas midstream operators subject to EPA's regional haze rule for the second implementation period.
What happens
The bill, if enacted, would eliminate the need for these operators to invest in additional emissions controls or alternative compliance strategies under the federal disapproved plan, reducing near-term capital and operational costs. However, the bill was rejected, so the EPA's disapproval stands, maintaining existing regulatory obligations.
Stock impact
Kinder Morgan operates a significant natural gas pipeline network in Colorado's DJ Basin. The rejection of this bill means continued regulatory uncertainty and potential state-level compliance costs for its Colorado midstream assets. No immediate revenue or cost impact from the bill, as it failed.
What the bill does
Congressional disapproval (CRA) to nullify an EPA rule that had disapproved Colorado's regional haze plan. The bill would remove the requirement for Colorado energy producers and industrial manufacturers to comply with federal measures under the disapproved plan, reducing regulatory compliance costs.
Who must act
Colorado-based energy producers and oil & gas midstream operators subject to EPA's regional haze rule for the second implementation period.
What happens
The bill, if enacted, would eliminate the need for these operators to invest in additional emissions controls or alternative compliance strategies under the federal disapproved plan, reducing near-term capital and operational costs. However, the bill was rejected, so the EPA's disapproval stands, maintaining existing regulatory obligations.
Stock impact
Enterprise Products Partners has natural gas processing and NGL assets in Colorado's DJ Basin. The rejected bill means continued regulatory uncertainty regarding emissions compliance for these assets. No immediate revenue or cost impact from the bill, as it failed.
Connected Signals
Matched on shared policy language across AI analyses, with ticker & timing weight
PIPES Act of 2025
To amend the Federal Power Act and the Natural Gas Act with respect to the enforcement of certain provisions, and for other purposes.
Commerce, Justice, Science; Energy and Water Development; and Interior and Environment Appropriations Act, 2026
To promote the energy security of Taiwan, and for other purposes.
Expressing support for rural communities across the United States as stewards of the environment, major suppliers of United States energy resources, critical providers of food production and manufacturing capacity, and drivers of national economic stability, and recognizing the work of the House of Representatives in the 119th Congress in support of those vital communities.
To prohibit liability against those engaged in the mining, extraction, production, refinement, transportation, distribution, marketing, manufacture, or sale of energy for damages or injunctive or other relief from the use of their products, and for other purposes.
American Energy Independence and Affordability Act
American Petroleum First Act
Related Presidential Actions
Executive orders & memoranda affecting the same sectors or companies
Imposing Additional Duties to Offset Canadian Discrimination Against the Commerce of the United States with Respect to Dairy
President Trump, citing Section 338 of the Tariff Act of 1930, imposes a 50% additional ad valorem duty on certain Canadian products (listed in Annex II) effective August 19, 2026, to offset Canada's discriminatory dairy tariff-rate quota allocation that disadvantages U.S. cheese exporters compared to EU exporters under CETA. The action aims to pressure Canada to remove the discrimination and expand opportunities for U.S. dairy producers within the U.S. market.
Imposing Additional Duties to Offset Canadian Discrimination Against the Commerce of the United States with Respect to Motor Vehicles
This proclamation imposes a 50% ad valorem duty on certain Canadian products, effective August 19, 2026, under Section 338 of the Tariff Act of 1930, to offset Canada's discriminatory 25% tariff and tariff-rate quota on U.S. motor vehicle exports, which have reduced U.S. auto exports to Canada by 22% and shifted demand to competitors like Mexico, Japan, Korea, and Germany.
Imposing Additional Duties to Offset Canadian Discrimination Against the Commerce of the United States with Respect to Alcoholic Beverages
This proclamation imposes a 50% ad valorem duty on certain Canadian products under Section 338 of the Tariff Act of 1930, effective August 19, 2026, to retaliate against Canadian provincial bans on U.S. alcoholic beverages that have reduced U.S. exports by 81%. It directs the U.S. Trade Representative and Customs and Border Protection to implement the duties via the Harmonized Tariff Schedule, targeting a range of Canadian goods to offset the trade disadvantage.
Free — no credit card
Get the next market-moving signal before the news does
HillSignal scores every Congressional bill, federal contract, and insider filing for market impact and emails you the high-conviction ones — free, no credit card.
Weekly digest — the congressional activity that actually moved markets that week, in plain English. Free, one email.
Free forever plan · No credit card · Unsubscribe in one click
Want the live terminal too? Create a free account →