Political Quotes

“Mr. Chairman, first, I would like to note I do oppose the underlying bill. This bill would require independent agencies, for the first time, to submit their rules to OIRA for review. The Congressional Budget Office estimates the bill would increase direct spending by $3 million and reduce revenues by $2 million. CBO also estimates that the bill would cost Federal agencies an additional $20 million in administrative costs for compliance. The reason the bill costs money is because it does not simply codify an executive order as its proponents suggest. The bill would require independent agencies, for the first time, to submit their rules to OIRA for review. Independent agencies such as the FCC, SEC, and CFPB do not currently have to get the approval of the White House for regulations they issue. Congress designed independent agencies to be just that--independent. This bill would enshrine in law the ability for the White House to engage in political interference with those agencies. The Consumer Federation of America sent a letter to House Members today opposing this bill. The letter said, inter alia: H.R. 1009 will jeopardize independence of agencies like the Consumer Product Safety Commission, the Securities and Exchange Commission, the Commodity Futures Trading Commission, the Federal Communications Commission, as well as other independent agencies because it will give the Office of Information and Regulatory Affairs the ability to review significant rules.…”