Don Nickles: “If the Senator will let me respond, again, I think you are right. The reference is to the legislation. My guess is that…”

“If the Senator will let me respond, again, I think you are right. The reference is to the legislation. My guess is that the regulatory agencies would determine the fiscal impact. I would think they would do it not on fiscal year but on calendar year--I may be incorrect--and that if the regulatory impact exceeded $100 million, as adjusted for inflation in subsequent years, then they would have to identify the costs. Again, I do not see that as a big burden. If you are going to have a regulatory impact on the public sector in excess of $100 million, they should know it and identify it. If they are going to have a regulatory impact on the private sector in excess of $100 million, for subsequent years--my colleague mentioned 5 years, and I do not know what regulatory agencies--we do 5-year budgeting, although not very well. But I do not know that when they issue those regulatory statements, they automatically cover 5 years. I am not sure.”