Key Vote Alert on H.R. 4078, the "Red Tape Reduction and Small Business Job Creation Act"

TO THE MEMBERS OF THE U.S. HOUSE OF REPRESENTATIVES:

The U.S. Chamber of Commerce, the world’s largest business federation representing the interests of more than three million businesses and organizations of every size, sector, and region, strongly supports H.R. 4078, the “Red Tape Reduction and Small Business Job Creation Act,” which is a compilation of other bills that would make critical improvements to the federal regulatory system, and opposes any weakening amendments to it.

These improvements would streamline the federal permitting process, impose transparency on the abused sue and settle process used by agencies and environmental groups to circumvent the rulemaking process, and prohibit agencies from proposing or finalizing major midnight regulations. The common sense reforms in these bills would make the nation’s regulatory process more transparent, efficient, and workable for businesses that create jobs and contribute to economic growth. To achieve these objectives, the Chamber strongly supports provisions of H.R. 4078 based on several previously-introduced bills, specifically:

• H.R. 4377, the “Responsibly and Professionally Invigorating Development (RAPID) Act of 2012.” This bill would provide a streamlined process for developers to obtain environmental permits and approvals for their projects in a timely and efficient manner, allowing jobs to be created and the economy to grow.
• H.R. 3862, the “Sunshine for Regulatory Decrees and Settlements Act of 2012.” This bill would promote openness and transparency in the regulatory process by requiring agencies to notify the public of lawsuits filed by special interest groups before they are settled and provide the public a meaningful voice in the process before any consent decree is filed with the court.
• H.R. 4607, the “Midnight Rule Relief Act of 2012.” This bill would address the problem of midnight rules by prohibiting agencies from proposing or finalizing major rules during the “midnight period” after a presidential election and prior to the inauguration of a new President.
• H.R. 2308, the “SEC Regulatory Accountability Act.” This bill would combine a pre- adoption cost benefit analysis with a post-adoption look-back requirement that is essential for smart rulemaking at SEC. Such a periodic check of all rules would help determine if rules are obsolete through empirical examination, forcing SEC staff to carefully consider how rulemakings are conducted, and fostering improved discipline in the promulgation processes.
• H.R. 1840, “To Improve Consideration by the Commodity Futures Trading Commission of the Costs and Benefits of its Regulations and Orders.” This bill would improve the CFTC’s cost-benefit analysis by requiring the Commission to evaluate additional factors – such as impact on liquidity and risk management – when determining the cost-benefit ratio of proposed regulations.

The Chamber may consider including votes on, or in relation to, H.R. 4078 – including weakening amendments – in our annual How They Voted scorecard.

Sincerely,

R. Bruce Josten

Read the Letter: 

120723_KV_HR4078_ReformBills__HR4377HR3862HR4607HR2308HR1840__House.pdf