by: Frank Knapp
Congress is considering a proposal that portends to offer commonsense rules to affect how Federal agencies analyze costs and benefits. Instead it will be disastrous to taxpayers, small and mid-sized businesses and the country as a whole.
The Regulatory Accountability Act of 2011 (RAA), which passed in the U.S. House, provides extensively detailed procedures for agencies in promulgating regulations that are projected to have a minimum effect of at least $100 million on the U.S. economy.
However, a thorough reading of the proposal leads to three conclusions. First, it will likely drive up the cost of almost every rule-making process and budget of a federal agency.
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