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Investor Presentaiton

44 Because Congress designed different parts of the statute to operate differently, a broad view of one of its purposes cannot drive the interpretive cart. And if Section 111's proper construction leaves EPA with too little power to respond to the serious issues surrounding climate change, the solution is not reinterpreting it with a purposivist bent. The answer is the same as when Congress confronted the problem of acid rain: When "policy considerations suggest that the current scheme should be altered, Congress must be the one to do it." Intel Corp. Inv. Pol'y Comm. v. Sulyma, 140 S. Ct. 768, 778 (2020); see also Fed. Power Comm'n v. La. Power & Light Co., 406 U.S. 621, 635-36 (1972) (“[The] need for federal regulation does not establish [agency] jurisdiction that Congress has not granted."). For better or worse, Congress designed Section 111 as a tool to improve the performance of individual stationary sources, not a springboard for market transformation. III. The Court Should Construe Section 111 To Avoid Substantial Non-Delegation Questions. Finally, while clear-statement canons and plain-text constructions ask whether Congress delegated power in the first place, the non-delegation doctrine demands that Congress provide sufficient guidance for how agencies should exercise it. Congress must make "fundamental policy decisions" itself—“the hard choices." Am. Petroleum Inst., 448 U.S. at 687 (Rehnquist, J., concurring in the judgment). So though agencies are a reality of modern life, holding delegation within proper bounds remains "vital to the integrity and maintenance" of our constitutional order. Marshall Field & Co. v. Clark, 143 U.S. 649, 692 (1982); see also Gundy, 139 S. Ct. at 2133 (Gorsuch, J., dissenting).
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