S.358 - Regulatory Responsibility for our Economy Act of 2011112th Congress (2011-2012)
|Sponsor:||Sen. Roberts, Pat [R-KS] (Introduced 02/15/2011)|
|Committees:||Senate - Homeland Security and Governmental Affairs|
|Latest Action:||07/20/2011 Committee on Homeland Security and Governmental Affairs. Hearings held. Hearings printed: S.Hrg. 112-220.|
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Subject — Policy Area:
- Government Operations and Politics
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Summary: S.358 — 112th Congress (2011-2012)All Bill Information (Except Text)
Introduced in Senate (02/15/2011)
Regulatory Responsibility for our Economy Act of 2011 - Sets forth general requirements for the federal regulatory system, including the protection of public health, welfare, safety, and the environment, the promotion of predictability in the regulatory process, and the consideration of benefits and costs of regulations.
Requires federal agencies to: (1) propose or adopt regulations only upon a reasoned determination that the benefits of such regulations justify their costs; (2) tailor regulations to impose the least burden on society and to maximize economic and other benefits; (3) involve the public and parties affected by regulations in the regulatory process; (4) develop regulatory actions that promote innovation, flexibility, and objectivity; and (5) consider methods to promote retrospective analysis of rules that may be outmoded, ineffective, insufficient, or excessively burdensome, and develop plans for reviewing on a periodic basis significant regulation actions (i.e., those having an annual effect on the economy of $100 million or more or otherwise adversely affecting the economy).