On the recordJuly 25, 2012
I just want to clear up something. It has been said that this would affect matters that would likely have an annual cost to the economy of over $100,000 or more, in other words, those that would be subject to the bill. But the piece that is left out on page 8 of the bill--and this is very crucial. It says: Or if OMB determines--or adversely affect--that is, legislation rules, proposed rules--that would adversely affect in a material way the economy, a sector of the economy, productivity, competition, jobs, the environment, public health or safety, small entities or State, local, or tribal governments or communities. And, of course, the bill goes on to say that OMB may make a determination, but if there is an entity that is agreed, they can always go to court. It's not accurate to say that it's just limited to those types of regulations that would affect the economy to the tune of $100 million. It actually affects a whole lot more than that. With that, I continue to reserve the balance of my time.
