Political Quotes

“The Senator has pointed exactly to one of the major differences in the two bills, which is the requirement in the Johnston bill that you go with least cost, unless there is a certain nonquantifiable benefit. But if the benefits are quantifiable--which they are in many instances--you are forced to go with the least cost, even though a slightly larger cost would produce a major additional benefit. So the Senator is exactly right on that. On the question of whether or not cost-benefit analyses were required in the Glenn-Chafee substitute, it is required. It is right here on page 29, line 14. I am going to read the language because it is required, but if it cannot be given, then the agency must say why, in fact, the certification that the benefits justify the cost cannot be made, because there are instances where an agency cannot make that certification. This is the language: The agency must certify that the rule will produce benefits that will justify the cost to the Government and to the public of implementation of and compliance with the rule, or an explanation of why such certification cannot be made. And in addition to requiring that that certification be given, the Glenn-Chafee approach is that Congress is then put in the position where, if such a certification is not or cannot be made, then it will or can veto such a regulation.”