Last week the House of Representatives passed two far-reaching regulatory reform bills long sought by many in industry, though the White House has vowed to veto both bills.
On Friday, the House voted 253-167 for the Regulatory Accountability Act (H.R. 3010), a major reworking of the 1946 Administrative Procedures Act. It would codify requirements on agencies to pursue earlier public outreach, improved scientific data, less closed door regulating, more built-in cost benefit analysis and more formal reviews of evidence of the effects of proposed "high-impact rules" costing more than a $1 billion.
On Thursday, the House voted 263-159 for the Regulatory Flexibility Improvements Act (H.R. 527), which would require agencies to step up efforts to identify costs that new regulations could impose on small businesses, write the regulations in ways that reduce costs and increase input from small businesses in the process.
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