John Glenn: “2 days ago, the Senate accepted an amendment to S. 4, the National Competitiveness Act, offered by Senator Nickles and…”

“2 days ago, the Senate accepted an amendment to S. 4, the National Competitiveness Act, offered by Senator Nickles and entitled the ``Economic and Employment Impact Act.'' This amendment would require the Congressional Budget Office [CBO] to conduct far-ranging cost impact analyses of all bills considered by either House of Congress. The amendment would also require agencies to conduct those analyses of all regulatory actions. In opposing the amendment I argued, and will point out again, that this proposal will be an impediment to the already slow legislative process, will require uncertain and unverifiable projections of future possible costs, will necessitate the allocation of additional CBO resources, and will require agencies to conduct a narrowly focused regulatory analysis in a manner much more narrowly than that already required by Presidential Executive order. Then and now, I do not argue against legislative or regulatory analysis, but just that this amendment is not the way to provide for such analysis.”