Rob Portman: “Let me outline briefly what is in the legislation with regard to the balance that the gentleman from Minnesota [Mr.…”

“Let me outline briefly what is in the legislation with regard to the balance that the gentleman from Minnesota [Mr. Vento] referred to. It is simply unfair to say that the benefits are not to be considered; in fact, they are required to be considered. To repeat, section 423 requires the committees to perform a cost-benefit analysis. Section 421(7)(c) requires CBO again to calculate not only the cost but also the net savings. Any cost analysis, including cost analysis of the threshold, has to be net savings to the local government. Section 202 says agencies must perform a cost-benefit analysis. I would also say that all the examples listed by my colleague, the gentleman from California [Mr. Farr], are those under existing mandates and none of those are covered by this bill.”