House Republicans pushed through two new deregulation bills this week, both intended to challenge environmental and financial regulations.
The first bill revived a 20-year-old bill known as the Unfunded Mandates Reform Act, which required that federal regulators examine the costs that new rules might impose on state and local government. The new bill, passed Wednesday, expands the Unfunded Mandates Reform Act by allowing said regulatory calculations to be challenged in court. According to the Huffington Post, the bill opens “every stage of analysis to litigation that may make it nearly impossible for agencies to write and implement rules.” The bill is funded by a $32 million cut to the Consumer Financial Protection Bureau.
“Both of these bills are part of an attack on the entire regulatory state,” Americans for Financial Reform policy director Marcus Stanley said. "They're designed to make it impossible for agencies to function."
The second bill passed this week was designed to introduce “additional cost-benefit calculations to the regulatory workload.” The bill was supported by 19 Democrats, mostly due to its emphasis on helping small businesses.
“These votes make clear that the House GOP is only interested in helping small businesses and working families through trickle-down deregulation,” Public Citizen regulatory policy advocate Amit Narang said.
Both bills are not expected to become legislation on their own due to President Obama’s opposition and Republicans not having enough votes to override a veto, though the GOP may attempt to include both pieces of legislation in a larger funding bill.
Source: Huffington Post / Photo Credit: politico.com, WikiCommons