Hank Johnson: “Any time I hear the name ``Mercatus Center'' I think of pro-big business, antiregulation. This amendment imposes even…”

“Any time I hear the name ``Mercatus Center'' I think of pro-big business, antiregulation. This amendment imposes even more paralyzing rulemaking requirements to the more than 60 analytical and procedural requirements that are already mandated by title I of this bill. You are giving them more homework on top of homework--busywork, red tape. Gum up the works--that is what this is all about. The amendment would require agencies to assess the economic impacts of major rules every 5 years, including a cost-benefit analysis of the rule every 5 years, an estimate of the rule's cost on regulated entities, and whether these costs exceed an agency's initial estimates, among other requirements. Worse yet, once this information is compiled, the amendment would also require the agency to reopen the public docket on the rule for 60 days to consider modifications to the underlying rule. Under current law, Federal agencies already conduct an extensive retrospective review process of existing rules and have already saved taxpayers billions in cost savings. This is yet another attempt to derail the rulemaking process by paralysis through analysis. Since 2011, the Obama administration has made a durable commitment to ensuring the retrospective review of existing regulatory protections. Pursuant to Executive Order Nos. 13563 and 13610, agencies are already required to conduct a periodic review of existing rules to protect public health while reducing paperwork burdens.…”