Political Quotes

“A cost-benefit analysis prior to the implementation of a regulation requires a number of assumptions that make an accurate analysis difficult, if not impossible. H.R. 50 allows committee chairmen and ranking members to ask for the retrospective reviews of specific regulations. I think there needs to be a degree of deference and some respect for the idea that it is for committee chairmen and ranking members, both sides of the aisle, not just based on some whim. I think it is offensive to suggest that it be just some whimsical thing. This allows an important check on any pre-implementation cost-benefit analysis, and these retrospective reviews better clarify the true costs of regulation. Even President Obama supports retrospective reviews and issued an executive order requiring agencies to conduct them. More importantly, retrospective reviews work. In April of 2014, the GAO issued a report on retrospective reviews at 22 executive agencies. That report found that more than 90 percent of retrospective regulation reviews led the agencies to revise, clarify, or eliminate regulation text--90 percent. However, the pace of retrospective review is much slower than planned, and the 22 agencies reviewed by the GAO had plans to conduct more than 650 retrospective reviews but had only completed 246 of them as of August of 2013. As you can see, the agencies are already doing this work. It is good to go back and review. We shouldn't be afraid of that. We should encourage it.…”