U.S. Sen. John Barrasso (R-Wyo.) has expressed his support for the New York Stock Exchange's (NYSE) decision to withdraw a proposal to incorporate Natural Asset Companies (NACs) into the Exchange. He highlighted the potential threat this could have posed to public lands. His remarks came shortly after the U.S. Securities and Exchange Commission (SEC) announced the termination of the proposal.
Barrasso stated, "The New York Stock Exchange’s overreaching proposal would have surrendered America’s public lands to the highest bidder." He further added, "Given the understandable backlash from those who live and work on our public lands, the Securities and Exchange Commission (SEC) withdrew this rule before it could take effect." Barrasso concluded by saying, "Axing this rule allows for the continuation of responsible land and resource management activities including mining, grazing, energy production and timber logging across Wyoming."
According to a press release from Barrasso’s website, a proposal was made last year to modify the listing standards of the NYSE to include NACs. The release states that this change, which would have allowed NACs to purchase natural asset rights and potentially enforce environmental restrictions, was recently withdrawn.
Supporting Barrasso's stance, according to the release, was U.S. Sen. Cynthia Lummis (R-Wyo.), who described the SEC's action to withdraw the proposal as a "huge victory for Wyoming". She argued that NACs were part of a strategy led by the Biden administration to "lock up our public lands". Labeling the proposal as a "land grab attempt", Lummis said: "this administration has openly empowered radical environmental activists to use the full force of the federal government to jeopardize western industry and threaten the way of life we cherish".
As per his profile on the Congress biographical directory website, Barrasso has been a U.S. Senator since 2007. The website also mentions that Barrasso has been involved in several congressional committees, including serving as chair of the "Republican Conference" since 2019, and previously, he served as chair for the "Republican Policy Committee".
