Lamar Smith: “I thank my Texas colleague for yielding me time, and I also thank him for offering this amendment. The bill restores to…”

“I thank my Texas colleague for yielding me time, and I also thank him for offering this amendment. The bill restores to Congress the accountability for the regulatory decisions that impose major burdens on our economy. As Congress makes those decisions, one of the most important facts to consider is whether new regulations produce jobs or destroy them. The amendment guarantees that when agencies submit new regulations to Congress, their cost benefit analyses will be made available. The amendment also assures that agencies will specifically identify regulations' impact on private and public sector jobs. With that information, Congress will be in a position to determine whether to approve the rules. And the American people will be in a postilion to hold Congress accountable for those decisions. I urge my colleagues to support the amendment.”