Legislative Update – House Passes Regulatory Reform Legislation

Last Thursday, the U.S. House of Representatives passed H.R. 4078, the Red Tape Reduction and Small Business Jobs Creation Act, by a vote of 245-172. NACD supports this legislation, which would prohibit agencies from issuing the most costly and significant rules until the unemployment rate drops to six percent or less, impose transparency on the “sue and settle” process used by agencies and environmental groups to circumvent the rulemaking process, prohibit agencies from proposing or finalizing major midnight regulations in the lame-duck portion of a Presidential administration, and streamline the federal permitting process. Click here to view a copy of a letter that NACD and 141 other organizations sent to House members prior to the vote urging support for it. Unfortunately, the Senate has no plans to consider H.R. 4078; and the White House has issued a veto threat.