Market News: US House of Representatives failed to overturn Biden's veto of repeal of SAB 121
The US House of Representatives failed to overturn Biden's veto of the repeal of the SAB 121 Act. Previously, Biden stated in an official statement on May 31st, "Overturning the SEC staff's thoughtful judgment in this manner could weaken the SEC's broader authority in accounting practices." Biden said, "My administration will not support measures that endanger the welfare of consumers and investors."
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