Washington, DC- Rep. Pete Olson (R-Sugar Land) today successfully amended a bill designed to minimize the negative impact federal regulations have on jobs. The bill, H.R. 3010, the Regulatory Accountability Act, would require agencies to assess the costs and benefits of regulatory alternatives and, in most cases, to adopt the least-costly alternative to achieve the regulatory objectives of Congress. The Olson amendment requires agencies to include an estimate of the net gain or loss of domestic jobs prior to formal rulemaking.  The amendment passed by voice vote.

"For too long, agencies have issued rules and regulations without consideration or analysis of the job impact on our economy," Olson said. "This bill is an important step forward in ensuring common sense in the federal regulatory process. My amendment strengthens the bill by requiring a job impact assessment prior to rulemaking. We must carefully balance potential benefits of a proposed rule with the economic impacts it may have. If the benefits are marginal when compared to job losses - those impacts must be considered prior to rulemaking."

H.R. 3010: The Regulatory Accountability Act

•  Amends the Administrative Procedure Act to include strong cost-benefit, transparency and accountability requirements.

•  Requires agencies to assess costs and benefits of regulatory alternatives. Unless interests of public health, safety or welfare require otherwise, agencies must adopt the least-costly alternative that achieves the regulatory objectives Congress has established.

•  Increases the transparency of the rulemaking process with more advance notices of proposed rulemaking, more opportunities for public comment and more opportunities for public hearings. This will lessen the influence of special interests.

The Olson amendment is adapted from his bill, H.R. 1341, the Establishing Public Accountability Act of 2011. Olson introduced the bill to require the Environmental Protection Agency (EPA) to include a statement that identifies any net gain or loss of domestic jobs that is likely to result if the rule is adopted and the analysis used to identify that net gain or loss.

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