Congressman Barrett Introduces H.R. 6512
WASHINGTON, D.C. – Congressman Gresham Barrett (SC, 03) introduced H.R. H.R. 6512– The Major Regulation Cost Review Act of 2008, to require a standard and periodic regulation review for federal agencies for a more seamless federal review process.
“Small businesses are the backbone of our economy and the engine for job growth; however, too often, these small businesses are burdened by unnecessary or overreaching federal regulations,” said Congressman Gresham Barrett. “Currently, there is no requirement for a periodic review of existing regulations. This legislation aims to help eliminate unnecessary red tape by implementing an organized review process for federal regulations.”
Congressman Barrett introduced the Major Regulation Cost Review Act of 2008 to provide a more structured regulation review process for federal agencies to follow. Within six months upon enactment, a federal agency will be required to develop a plan to periodically review all major rules issued by the agency to determine whether the rules are still consistent with their intended purpose.
“The federal government has an obligation to ensure the regulations they put in place are accomplishing an intended purpose. H.R. 6512 will reform the current process, which many believe to be burdensome. This legislation will require agencies to review the regulations they are implementing so the public can see if they are effective, duplicative in nature, and whether they are costing more than originally estimated,” said Congressman Barrett.
The Major Regulation Cost Review Act of 2008 would require all federal agencies to review their existing major rules and their new major rules and prepare a new cost-benefit analysis using a standard government-wide methodology. The legislation would mandate a review for current major rules within five years of the bill’s enactment, and within five years for all new major rules from the date they are finalized. This bill also provides the opportunity for public comment during the review phase, and requires the agency to identify possible less costly alternatives if the rule is still needed.
The bill allows the federal agency head to request a one-year extension for up to five additional years for reviewing a specific regulation if completion of the review is not feasible in the five year timeframe. However, to ensure this extension power is not abused, the bill also requires the federal agency head to certify the extension is needed and publish the statement in the Federal Register.