The U.S. Capitol is photographed behind a chain fence in Washington September 30, 2013.
Kevin Lamarque / Reuters

Last week, along largely partisan lines, Congress voted to repeal a Securities and Exchange Commission rule requiring oil, gas, and mining companies to disclose the payments they make to governments for access to natural resources. According to congressional Republicans and some in the oil and gas industry, the rule creates unacceptable burdens and puts U.S. companies at a disadvantage to foreign competitors. Validity aside, these claims ignore the central purpose of the law. Mandated by Section 1504 of the 2010 Dodd-Frank Act but not scheduled to go into effect until late 2018, it has already become a core element of U.S.

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