Washington – Business Roundtable (BRT) today lauded the U.S. House of Representatives for passing, H.R. 3010, the Regulatory Accountability Act, which incorporates many of the solutions for reform offered in BRT’s Achieving Smarter Regulation report released in September.

“America’s CEOs congratulate Representatives Lamar Smith (R-TX) and Collin Peterson (D-MN) for their vision, hard work and leadership in securing House passage of this important bipartisan legislation. The Senate should swiftly enact this bill. Anything Congress can do to promote ‘smarter regulation’ will help accelerate business growth and put America back to work,” said Andrew Liveris, Chairman and CEO of The Dow Chemical Company.

Regulation has provided substantial benefits to the country, but it has done so at a high cost, noted Liveris. The U.S. government can achieve its statutory objectives at less cost through “smarter regulation,” including early engagement of regulators with the public, the use of quality information, objective analysis of regulatory alternatives, consideration of costs and benefits, expert oversight, and legislative accountability.

Earlier this year, BRT identified 24 proposed major regulations that will harm job creation and proposed specific reforms to lessen their impact on the economy. BRT CEOs presented BRT’s regulatory reform ideas to the President’s Council on Jobs and Competitiveness, and BRT has held numerous meetings with Administration officials, Members of Congress and their staffs.

BRT’s strategy for comprehensive reform emphasizes transparency and accountability and focuses on practical changes that would protect the public interest while minimizing costs to the economy.

Click here to view BRT’s letter endorsing the Regulatory Accountability Act.