Lamar Smith: “I thank the gentleman from Virginia, the chairman of the Judiciary Committee, for yielding me time this afternoon. Madam…”

“I thank the gentleman from Virginia, the chairman of the Judiciary Committee, for yielding me time this afternoon. Madam Chairman, I support H.R. 2804, the Achieving Less Excess in Regulation and Requiring Transparency Act, known as the ALERTT Act. One of the biggest concerns that I hear from Texas employers is the avalanche of unnecessary Federal regulatory costs. Regulation redirects scarce capital from investment and job creation to compliance with the Federal Government. In fact, the Small Business Administration has determined that Federal regulations cost the economy $1.75 trillion each year. This commonsense legislation is an omnibus package of regulatory relief bills that the Judiciary Committee has worked on in recent years to protect businesses. I previously authored two of the bills that are included in H.R. 2804, and appreciate their being considered again this Congress. The ALERTT Act adds transparency to the regulatory process. It strengthens existing laws in order to prevent Federal agencies from bypassing cost-benefit analyses designed to protect small businesses, and the bill requires Federal agencies to pick the least costly alternative rule to achieve that statutory goal. H.R. 2804 limits organizations' ability to bring sue-and-settle lawsuits against Federal agencies. These lawsuits result in one-sided regulations that shut stakeholders out of the process.…”