This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies.
By Cheryl Bolen
A bill aimed at giving the executive branch oversight of rules issued by independent regulatory agencies, such as the Consumer Financial Protection Bureau, was introduced in the Senate June 27 by five Republicans.
Under the Independent Agency Regulatory Analysis Act, the president could require independent agencies to submit significant proposed and final rules, along with supporting analyses, for review by the Office of Information and Regulatory Affairs (OIRA).
“Under current law, independent agencies are exempt from commonsense rules, like requiring an analysis of how new regulations will impact jobs and the economy,” said a statement by Sen. Rob Portman (R-Ohio), the sponsor of the bill.
“My legislation would bring these agencies under the same regulatory review framework that applies to other agencies,” he added.
Subjecting independent federal agencies to oversight by the White House has been debated for years without resolution. The same legislation introduced in June 2015 was strongly opposed by agency heads such as Federal Reserve Chair Janet Yellen.
Co-sponsors of the new bill are Sens. Susan Collins (R-Maine), Joni Ernst (R-Iowa), Ron Johnson (R-Wis.), and James Lankford (R-Okla.).
According to a summary of the bill by Portman, OIRA would not have the power to reject a rule submitted by an independent agency. Instead, OIRA would evaluate the quality of the agency’s cost-benefit analysis and place its assessment in the public record.
If OIRA found that an agency failed to comply with the new requirements, the agency would be obligated to respond to OIRA’s assessment and justify its position and underlying analysis, the bill summary said.
Judicial review of the agency’s compliance would not be permitted, but the exchange between OIRA and the agency would be included in the rulemaking record, the bill summary said.
Portman also is sponsoring the Regulatory Accountability Act (RAA) (S. 951), a bill that would overhaul the rulemaking process. The provisions of the RAA, which has the strong support of the business community, also would apply to rules by independent agencies.
On May 17, the Senate Homeland Security and Governmental Affairs Committee approved the RAA by a vote of 9-5, with the support of one Democrat, Sen. Heidi Heitkamp (N.D.). Portman and Heitkamp are seeking more Democratic support for the bill before bringing it to the Senate floor.
Public Citizen, a public interest organization that opposes the RAA, started sponsoring television ads June 26 in the Cincinnati media market, arguing the RAA would endanger children and families by blocking new, lifesaving regulatory protections, according to a statement from the organization.
“Regulatory protections ensure that we have clean air, lead-free water, uncontaminated food, safe products and other basic protections that our children need to grow up healthy and strong. Portman’s bill would let big corporations block these protections,” Robert Weissman, president of Public Citizen, said.
To contact the reporter on this story: Cheryl Bolen in Washington at cbolen@bna.com
To contact the editor responsible for this story: Paul Hendrie at phendrie@bna.com
Copyright © 2017 The Bureau of National Affairs, Inc. All Rights Reserved.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to books@bna.com.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to research@bna.com.
Put me on standing order
Notify me when new releases are available (no standing order will be created)