[Congressional Record (Bound Edition), Volume 157 (2011), Part 7]
[Extensions of Remarks]
[Pages 9226-9227]
[From the U.S. Government Publishing Office, www.gpo.gov]




               INTRODUCTION OF THE REGULATORY BALANCE ACT

                                  _____
                                 

                        HON. STEPHEN LEE FINCHER

                              of tennessee

                    in the house of representatives

                         Tuesday, June 14, 2011

  Mr. FINCHER. Mr. Speaker, I rise today to discuss an issue of great 
importance to family farmers and agricultural businesses. The 
regulatory burdens placed on family farmers and

[[Page 9227]]

the agriculture business hinder job creation, job retention, and 
innovative breakthroughs in technology and crop production. Family 
farmers across the country lead the world in the production of a safe, 
secure food supply and provide a multi-billion dollar economic impact. 
In order for family farmers and the agriculture community to continue 
to prosper, the regulatory process must follow common sense and not be 
unduly burdensome.
  That is why I am pleased to introduce the Regulatory Balance Act, 
which codifies into federal statute the cost benefit analysis required 
by Executive Order 12866. Simply put, any regulation with a significant 
economic impact of $100 million or more proposed by the United States 
Department of Agriculture, USDA, the Environmental Protection Agency, 
EPA, and the Food and Drug Administration, FDA, must perform a cost-
benefit analysis and report the same to Congress before the regulation 
takes effect A cost-benefit analysis would determine whether a proposed 
regulation would have a negative economic impact on our Nation's 
economy.
  As a farmer, I understand the costs associated with many of the 
regulations placed upon the agriculture community. By guaranteeing a 
more transparent, efficient regulatory process that works for family 
farmers instead of against them, the rural areas of my district and 
this country will thrive. Family farmers and the agriculture community 
will continue to be the best in the world as long as federal 
agriculture regulations are evenly balanced between cost and benefit.
  Creating a stable regulatory environment, where balance between the 
cost to family farmers and the agriculture community is balanced with 
the benefit of the regulation, allows family farms and the agriculture 
community to invest and grow their business without added costs due to 
regulations that fly in the face of common sense.
  Mr. Speaker, I urge my colleagues in the House (and Senate) to 
support me in passing the Regulatory Balance Act and bring stability 
and balance to the regulatory process.

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