Jim Costa: “I thank the gentleman for yielding. Mr. Chairman, I rise today in support of H.R. 3010, the Regulatory Accountability…”

“I thank the gentleman for yielding. Mr. Chairman, I rise today in support of H.R. 3010, the Regulatory Accountability Act of 2011. As a cosponsor of this legislation, I understand that this is not about eliminating existing regulations; it's about making sure that regulations do not eliminate the ability of businesses to thrive to create jobs in places like the San Joaquin Valley that I represent, especially during these difficult economic times. Many major regulations can cost upwards of $100 million dollars to the industries affected by the rule. But they also impact consumer costs as well. While business people in my district are carefully watching their bottom line, ill-advised regulations can hamper the ability to create jobs and get our economy going. So this legislation is also about jobs. This legislation ensures that regulations are fully vetted before they are put in place. Despite the best intentions, we often see bureaucrats proposing rules without any practical knowledge of how they will work in the real world. H.R. 3010 guarantees that the business communities, farmers in my district can know, when regulations are being proposed, that they can have a seat at the table to explain how it would affect their work and be implemented. This legislation, therefore, is also about transparency and accountability. Agencies would be required to provide information to the public about the potential economic impacts of the proposed regulations.…”