[Congressional Record Volume 145, Number 87 (Friday, June 18, 1999)]
[Senate]
[Pages S7268-S7269]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. THOMPSON (for himself, Mrs. Lincoln, Mr. Voinovich, Mr. 
        Kerrey, and Mr. Breaux):
  S. 1244. A bill to establish a 3-year pilot project for the General 
Accounting Office to report to Congress on economically significant 
rules of Federal agencies, and for other purposes; to the Committee on 
Governmental Affairs.


                    truth in regulating act of 1999

  Mr. THOMPSON. Mr. President, I rise to introduce the ``Truth in 
Regulating Act.'' This legislation would establish a 3-year pilot 
project to support Congressional oversight to ensure that important 
regulatory decisions are efficient, effective, and fair.

  The foundation of the ``Truth in Regulating Act'' is the right of 
Congress and the people we serve to know about important regulatory 
decisions. Through the General Accounting Office, which serves as 
Congress' eyes and ears, this legislation will help us get access to 
the important information that Federal agencies use to make regulatory 
decisions before the horse gets out of the barn. So, in a real sense, 
this legislation not only gives people the right to know; it gives them 
the right to see--to see how the government works, or doesn't. And by 
providing us with information that agencies use to make regulations, it 
will enable Congress to ensure that agency regulations are consistent 
with Congress' intent and the authority that Congress has delegated to 
the agencies by statute. This will make the regulatory process more 
transparent, more accountable, and more democratic. It will help 
improve the quality and fairness of important regulations. This will 
contribute to the success of programs the public values and improve 
public confidence in the Federal Government, which is a real concern 
today.
  Under the 3-year pilot project established by this legislation, a 
Committee

[[Page S7269]]

of either House of Congress may request the Comptroller General to 
review an economically significant rule as it is being developed. The 
Comptroller General shall submit a report no later than 180 calendar 
days after a committee request is received. This should allow Congress 
ample time to decide whether it wants to disapprove the rule under the 
Congressional Review Act. The Comptroller General's independent 
analysis of the rule shall include: an analysis of the potential 
benefits of the rule, the potential costs of the rule, any alternative 
approaches that could achieve the goal in a more cost-effective manner 
or that could produce greater net benefits, the extent to which the 
rule would affect State or local governments, and a summary of how the 
results of the analysis of the Comptroller General differ, if at all, 
from the results of agency analyses. The Comptroller General will have 
the discretion to develop the procedures for determining the priority 
of requests.
  Mr. President, it is my hope that the ``Truth in Regulating Act'' 
will encourage Federal agencies to make better use of modern 
decisionmaking tools, such as risk assessment and benefit-cost 
analysis. Currently, these important tools often are viewed simply as 
options--options that aren't used as much or as well as they should be. 
The Governmental Affairs Committee has reviewed and developed a 
voluminous record showing that our regulatory process is not working as 
well as intended and is missing important opportunities to achieve 
greater benefits at less cost. On April 22, I chaired a hearing in 
which we heard testimony on the need for this proposal. The General 
Accounting Office has done important studies for Governmental Affairs 
and other committees showing that agency practices--in cost-benefit 
analysis, risk assessment, and in meeting transparency and disclosure 
requirements of laws and executive orders--need significant 
improvement. Many other authorities support these findings.
  All of us benefit when government performs well and meets the needs 
of the people it serves. I want to thank Blanche Lincoln, George 
Voinovich, Bob Kerrey, and John Breaux for joining me as original 
cosponsors of this bill. All of us on both sides of the aisle should 
pull together to improve the quality of our government. I urge by 
colleagues to support this important legislation.
  I ask unanimous consent that the ``Truth in Regulating Act'' be 
printed in the Record.
  There being no objection, the bill was ordered to be printed in the 
Record, as follows:

                                S. 1244

       Be it enacted by the Senate and House of Representatives of 
     the United States of America in Congress assembled,

     SECTION 1. SHORT TITLE.

       This Act may be cited as the ``Truth in Regulating Act of 
     1999''.

     SEC. 2. PURPOSES.

       The purposes of this Act are to--
       (1) increase the transparency of important regulatory 
     decisions;
       (2) promote effective congressional oversight to ensure 
     that agency rules fulfill statutory requirements in an 
     efficient, effective, and fair manner; and
       (3) increase the accountability of Congress and the 
     agencies to the people they serve.

     SEC. 3. DEFINITIONS.

       In this Act, the term--
       (1) ``agency'' has the meaning given such term under 
     section 551(1) of title 5, United States Code;
       (2) ``economically significant rule'' means any proposed or 
     final rule, including an interim or direct final rule, that 
     may have an annual effect on the economy of $100,000,000 or 
     more or adversely affect in a material way the economy, a 
     sector of the economy, productivity, competition, jobs, the 
     environment, public health or safety, or State, local, or 
     tribal governments or communities; and
       (3) ``independent analysis'' means a substantive review of 
     the agency's underlying assessments and assumptions used in 
     developing the regulatory action and whatever additional 
     analysis the Comptroller General determines to be necessary.

     SEC. 4. PILOT PROJECT FOR REPORT ON RULES.

       (a) In General.--
       (1) Request of review.--When an agency develops or issues 
     an economically significant rule, the Comptroller General of 
     the United States may review the rule at the request of a 
     committee of either House of Congress.
       (2) Report.--The Comptroller General shall submit a report 
     on each economically significant rule selected under 
     paragraph (4) to the committees of jurisdiction in each House 
     of Congress not later than 180 calendar days after a 
     committee request is received. The report shall include an 
     independent analysis of the economically significant rule by 
     the Comptroller General using any relevant data or analyses 
     available to or generated by the General Accounting Office.
       (3) Independent analysis.--The independent analysis of the 
     economically significant rule by the Comptroller General 
     under paragraph (2) shall include--
       (A) an analysis of the potential benefits of the rule, 
     including any beneficial effects that cannot be quantified in 
     monetary terms and the identification of the persons or 
     entities likely to receive the benefits;
       (B) an analysis of the potential costs of the rule, 
     including any adverse effects that cannot be quantified in 
     monetary terms and the identification of the persons or 
     entities likely to bear the costs;
       (C) an analysis of alternative approaches that could 
     achieve the statutory goal in a more cost-effective manner or 
     that could provide greater net benefits, and, if applicable, 
     a brief explanation of any reason why such alternatives could 
     not be adopted;
       (D) an analysis of the extent to which the rule would 
     affect State or local governments; and
       (E) a summary of how the results of the analysis of the 
     Comptroller General differ, if at all, from the results of 
     the analyses of the agency in promulgating the rule.
       (4) Procedures for priorities of requests.--The Comptroller 
     General shall have discretion to develop procedures for 
     determining the priority and number of requests for review 
     under paragraph (1) for which a report will be submitted 
     under paragraph (2).
       (b) Cooperation With Comptroller General.--Each agency 
     shall cooperate with the Comptroller General by promptly 
     providing the Comptroller General with such records and 
     information that the Comptroller General determines necessary 
     to carry out this Act.

     SEC. 5. AUTHORIZATION OF APPROPRIATIONS.

       There are authorized to be appropriated to the General 
     Accounting Office to carry out this Act $5,200,000 for each 
     of fiscal years 2000 through 2002.

     SEC. 6. EFFECTIVE DATE AND DURATION OF PILOT PROJECT.

       (a) Effective Date.--This Act and the amendments made by 
     this Act shall take effect 90 days after the date of 
     enactment of this Act.
       (b) Duration of Pilot Project.--The pilot project under 
     this Act shall continue for a period of 3 years, if in each 
     fiscal year, or portion thereof included in that period, a 
     specific annual appropriation not less than $5,200,000 or the 
     pro-rated equivalent thereof shall have been made for the 
     pilot project.
       (c) Report.--Before the conclusion of the 3-year period, 
     the Comptroller General shall submit to Congress a report 
     reviewing the effectiveness of the pilot project and 
     recommending whether or not Congress should permanently 
     authorize the pilot project.

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