House passes regulatory reform bill

The House on Wednesday passed legislation to require federal agencies to evaluate the full economic effects of regulations.

Passed 250-173, the measure would further require agencies to consult with private sector entities impacted by the proposed rules.

{mosads}Republicans said the bill would help ensure that businesses have the opportunity to offer enough input during the regulatory process.

“It’s just plain common sense. Regulators and legislators should know exactly what they are asking the American people to pay, and whether the cost of compliance might make it harder for family businesses to meet payroll and stay afloat,” said Rep. Virginia Foxx (R-N.C.), the bill’s sponsor.

But Democrats said the measure would make it easier for private industries to stall the rulemaking process.

“This bill is simply an effort to throw a wrench into the rulemaking process, ensuring that private industry is provided privileges and rights above any other stakeholders in the process,” said Rep. Gerry Connolly (D-Va.).

The House previously passed identical legislation in February 2014 by a vote of 234-176.

Members will also debate a measure on Thursday that would require federal agencies to identify the direct and indirect costs of regulations on small businesses.