May 17, 2017, (Arlington, Va.) – The American Composites Manufacturers Association (ACMA) applauds the approval of S. 951, the Regulatory Accountability Act (RAA), by the Senate Homeland Security and Governmental Affairs Committee today. ACMA commends Senators Rob Portman (R-OH) and Heidi Heitkamp (D-ND) on their leadership to introduce the legislation, as well as original co-sponsors Sens. Orrin Hatch (R-UT) and Joe Manchin (D-WV). ACMA also commends the House, which passed its own version of the bill back in January.
If signed into law, the legislation would establish clear criteria for cost-benefit analyses conducted by regulatory agencies. This would empower courts to hold the agencies accountable if regulations are issued that do not require the most cost-effective approaches. Agencies such as EPA and OSHA conduct cost benefit analyses during rulemaking. However, these cost benefit analyses are often conducted to justify the agency’s regulatory approach and they do not always identify the approach that is the most effective.
The RAA combats this issue by requiring regulatory agencies issuing major rules – including the independent regulatory commissions – to consider a reasonable number of regulatory alternatives and to select the alternative that has benefits which justify the costs and that is the “most cost effective.”
ACMA is calling upon its members and all stakeholders in the composites industry to contact their senators to support the passage of the RAA when it heads to the floor for final passage in the coming weeks. ACMA has provided a template letter here.
“ACMA believes these common sense requirements would ensure that any major regulatory actions – including deregulation – would enhance societal well-being as well as the vitality of our members’ businesses,” says Tom Dobbins, ACMA President.