Revealing the Costs, Consequences of Regulation, II

By February 10, 2011Economy, General, Regulations

This morning’s hearing by the House Oversight and Government Reform Committee, “Regulatory Impediments to Job Creation,” is much anticipated not just for its economic importance but also for its more political dynamic, i.e., House Republicans versus President Obama, the GOP’s drive to rationalize regulations as a strategy, the President reaching out to business, etc. Whichever dynamic produces a better, more commonsensical approach toward regulation (and reins in the expansionistic EPA) is OK by us.

In any case, the previews and other leans toward the political analysis.

And, a good one from National Review Online, The Corner, “The Burden of Regulation“:

Update: To watch streaming video of the hearing please click here.  

Among the witnesses for the hearing are business leaders who will have real credibility when discussing the impact of regulations on companies. Those leaders include Jay Timmons, CEO of the National Association of Manufacturers; Harry Alford, CEO of the Black Chamber of Commerce; and Karen Kerrigan, president of the Small Business and Entrepreneurship Council. Also speaking will be a couple of think-tank experts, the Mercatus Center’s Jerry Ellig and the Heritage Foundation’s James Gattuso.

And don’t look for today’s hearing to be the final statement from House Republicans on regulation. Rep. Fred Upton (R., Mich.), chairman of the House Energy and Commerce committee, has unveiled draft legislation that would ban the EPA from regulating greenhouse gases under the Clean Air Act. Rep. Geoff Davis (R., Ky.) has reintroduced the REINS Act, which would require a congressional vote to launch any regulation estimated to have an economic impact over $100 million.

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