“The American people deserve to know the full impact and cost they will bear from new regulations crafted by government bureaucracies. The bureaucrats responsible for these regulations cannot remain insensible to how they impact our lives and our economy. This legislation will mandate transparency and economic impact assessment within the SEC, but we should apply this standard to every agency, department, and bureaucracy in Washington, D.C.”
Background
The SEC Regulatory Accountability Act, H.R. 78, directs the U.S. Securities and Exchange Commission (SEC) to conduct a thorough cost-benefit analysis of each regulation before being implemented. It also ensures that all federal agencies – not just a select few – are held to uniform standards and accountability.