The U.S. House of Representatives passed SEMA-supported legislation to reduce the cost of burdensome regulations on business owners and job creators. The Regulatory Accountability Act of 2011 would require federal agencies to conduct a cost-benefit analysis when issuing new rules. Although a few laws already permit such analysis, the legislation would overturn the prohibition contained in other laws, such as the Clean Air Act, Motor Vehicle Safety Act, Occupational Health and Safety Act and Endangered Species Act.
The data and evidence gathered in the analysis would be subject to judicial review. Agencies would generally be required to adopt the “least costly” approach to achieve policy goals established by Congress. A companion bill faces an uphill battle in the U.S. Senate and a presidential veto over concerns that it could make it more difficult for agencies to enact regulations.
For more information, contact Stuart Gosswein at email@example.com.