Story highlights The Republican Congress is using a special legislative tool called the Congressional Review Act

Proponents of the rule say it's aimed to prevent companies from bribing foreign governments

Washington (CNN) The Senate voted to reject a federal rule Friday that requires energy companies to report payments made to foreign governments to the Securities and Exchange Commission.

The resolution passed 52-47 along party lines, with Republicans voting to disapprove of the rule and Democrats defending it. The GOP-controlled House passed the same resolution Thursday.

The Republican-led Congress is using a special legislative tool called the Congressional Review Act to repeal a slew of rules and regulations put in place in the waning days of the Obama administration.

The rule -- "Disclosure of Payments by Resource Extraction Issuers" -- mandates that oil, natural gas and mineral companies disclose to the SEC any financial dealings with foreign governments in an annual report.

Proponents of the rule say it's aimed to prevent companies from bribing foreign governments and taking part in other forms of corruption, but opponents argue it creates undue burdens on American companies and puts them at a competitive disadvantage.

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