Regulatory Update – House Committee Issues Report on Aggressive Regulations, Including EPA Chemical Data Reporting Rule
Last week, the House Oversight and Government Reform Committee released a new report, “Continuing Oversight of Regulatory Impediments to Job Creation: Job Creators Still Buried by Red Tape,” outlining the effects of burdensome regulations on job creation. The report finds that while some regulatory improvements have taken place, many other examples of job destroying red tape have not been addressed. Among the key findings are that from 2010 to 2011, the number of final rules issued by federal agencies rose from 3,573 to 3,807 – a 6.5 percent increase, and that during that same time frame, the number of proposed rules increased 18.8 percent. In addition, over the past decade, the number of economically significant rules in the pipeline – those that could cost $100 million or more annually – has increased by more than 137 percent. One of the rules highlighted in the report is the Environmental Protection Agency’s (EPA) Chemical Data Reporting Rule, which significantly expands reporting requirements for chemical manufacturers and importers and which has an August 13, 2012 reporting deadline. For a copy of the report, click here.