Published: September 18, 2012
September 18, 2012
Dear Chairman Lieberman and Ranking Member Collins:
On behalf of the Business Roundtable, I am writing in support of S.3468, the Independent Agency Regulatory Analysis Act. This bill would allow the President to expand coverage of his executive order on regulatory review to independent regulatory agencies. Major rules from such agencies are currently not subject to executive order requirements for cost-benefit analysis nor OMB review.
BRT has long advocated in favor of expanding coverage to such agencies, which together account for as much as 20% of all major rules. In our view, cost-benefit analysis and OMB review of major rules represent a sound and prudent management approach, which should not be limited to just a subset of regulatory agencies.
We urge both the Senate and the House to act on this bill quickly. In our view, the bill represents an incremental, yet critical, step toward regulatory reform.
Andrew N. Liveris
Chairman & CEO, The Dow Chemical Company
Chair, Regulatory Reform Committee, Business Roundtable
C: The Honorable Rob Portman
The Honorable Mark Warner