Regulatory Reform Bill to Be Scaled Back
The Senate agreed Tuesday to narrow the scope of a sweeping regulatory reform bill, increasing the likelihood of garnering enough Democratic support for final approval.
The bill would require agencies to compare the cost of a regulation against its environmental, health or safety benefits.
Republicans agreed to limit the bill’s coverage to regulations that have economic costs of at least $100 million a year, instead of $50 million, and to ensure that the new rules for federal regulatory agencies do not override existing laws.
Sen. J. Bennett Johnston (D-La.) said if the cost threshold is too low, regulators would have to conduct cost-benefit reviews on hundreds of relatively minor rules.
The broad sweep of the bill and its potential impact on existing health and safety protections have been the focus of two days of heated debate.
The Clinton Administration had threatened to veto any legislation that covered rules below the $100-million threshold and if some assurance were not provided to save requirements under existing laws.
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