Providing congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Environmental Protection Agency relating to "California State Motor Vehicle Pollution Control Standards; Notice of Decision Granting a Waiver of Clean Air Act Preemption for California's 2009 and Subsequent Model Year Greenhouse Gas Emission Standards for New Motor Vehicles".

HJRES202, introduced by Rep. Hageman (R-WY) on July 18, 2026, is a Congressional Review Act resolution to disapprove the EPA's waiver allowing California to set its own greenhouse gas emission standards for new motor vehicles. The bill has been referred to the House Energy and Commerce Committee and currently has no cosponsors. As a CRA resolution, it requires simple majorities in both chambers and presidential signature to take effect. Given the early stage and lack of bipartisan support, passage is unlikely in the current Congress. The resolution targets the EPA's 2022 decision to reinstate California's authority under the Clean Air Act to enforce stricter vehicle GHG standards, which 17 other states have adopted. If enacted, it would nullify the waiver and prevent similar waivers in the future. The money trail is indirect: no direct funding is authorized. Instead, the mechanism is regulatory relief for automakers and oil companies, reducing compliance costs and preserving gasoline demand. For traditional automakers like Ford and GM, the resolution would lower the pressure to rapidly electrify their fleets, protecting margins on high-profit ICE vehicles. For oil companies ExxonMobil and Chevron, slower EV adoption in California and adopting states would sustain gasoline demand, supporting refining margins. Conversely, Tesla and other EV manufacturers would lose a key regulatory tailwind that forces ICE competitors to transition. The legislative path is long: committee hearings, markup, floor votes in both chambers, and presidential action. Given the current political landscape, the resolution faces significant hurdles. Investors should monitor committee activity and cosponsor additions as signals of momentum.