Congressman Tim Griffin (AR-02) issued the following statement in support of the Regulatory Flexibility Improvements Act (H.R. 527) and the Regulatory Accountability Act (H.R. 3010):
"Arkansas job creators have made it clear that excessive regulation -- along with the uncertainty it causes -- is one of the biggest obstacles to job creation. This week, I supported two bills designed to give job creators the confidence to expand their businesses and hire additional employees. These bills would direct federal agencies to better analyze the full impact their proposed regulations will have on job creators and make targeted reforms to the rulemaking process to hold federal regulators more accountable."
H.R. 527, which passed the House on Thursday evening, closes loopholes in current law that permit federal agencies to ignore the effects new regulations would have on job creators. Specifically, it requires agencies to look for alternatives where analysis shows a proposed rule would have a significantly harmful economic impact. It also requires agencies to consider the indirect impact proposed rules would have on job creators in their analysis.
H.R. 3010 was passed by the House earlier today and would amend current law in several ways. Most notably, it would require federal agencies to examine the costs and benefits of proposed rules, ensure more transparency in the regulation proposal process, and give stakeholders greater voice when major rules are being considered.