House Passes Regulatory Reform Bill
January 29, 2015
A new bill has just passed the House and aims to reduce the cost of federal regulations. The Regulatory Accountability Act (H.R. 185), sponsored by Rep. Bob Goodlatte (R-Va.), would impose tougher standards on would-be regulators, which bill supporters say would ultimately reduce costs as well as reduce the ability of interest groups to interfere in the regulatory process.
Sarah Westwood of the Washington Examiner reports on the measure, saying it would require agencies to weigh the potential costs of proposed rules as well as the costs of reasonable alternatives. Additionally, the bill raises the public input required before agencies can issue new regulations and aims to increase transparency. If the law passes, a proposed regulation would have to be published in the Federal Register, accompanied by a description of the problem it was designed to fix as well as the legal basis for the regulation.
According to Goodlatte, regulations cost American families $15,000 last year.
President Obama has already indicated his opposition to the bill.
Source: Sarah Westwood, "Obama threatens to veto bipartisan bill that limits costs of new regulations," Washington Examiner, January 21, 2015.
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