On the recordJanuary 12, 2017
I thank my good friend from Michigan (Mr. Huizenga). I rise today in support of my good friend from Missouri (Mrs. Wagner's) legislation, H.R. 78, the SEC Regulatory Accountability Act. The American people have grown tired of unaccountable and unelected Washington bureaucrats bringing forward burdensome regulations without fully considering the effect on families in our districts. This simple and straightforward legislation would enact a statutory requirement for the SEC to outline enhanced economic analysis requirements for any new regulations before they can be enacted. It also requires a review of existing regulations to determine if they are unduly burdensome or duplicative. Accountability. The impact of burdensome regulations that lack a thorough vetting by the SEC can have an untold effect across our entire economy. Court cases, Government Accountability Office reports, and the SEC's own Office of Inspector General have raised important questions and recommended improvements to various components of the SEC's economic analysis in its rulemaking. This legislation would go further by prohibiting the SEC from issuing a rule when it cannot make a reasoned determination that the benefits of the intended regulation justify the cost of the regulation. Logic and reason. In closing, I support this good-government, commonsense legislation introduced by Chair Wagner.…
