They described the initiative as highly partisan and said it would undermine the agency’s credibility if adopted, especially in light of the current controversy over the IRS.
The initiative got more than 500,000 mostly favorable written comments from the public, a record for the agency.
The SEC subsequently added the issue it to its agenda, signaling that it may consider formally proposing a rule.
The big unknown is whether White, who joined the SEC a month ago, will back the plan and move it forward.
“We’re giving you an opportunity today to make a clear and emphatic statement that you will refuse to be bullied by these outside radical groups that are trying to exploit the corporate disclosure process,” said Rep. Scott Garrett, R-N.J., at Thursday's hearing by the House Financial Services Committee.