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“YES” on H.R. 1705, the Transparency in Regulatory Analysis of Impacts on the Nation (TRAIN) Act.
September 22, 2011
NTU urges all Representatives to vote “YES” on H.R. 1705, the Transparency in Regulatory Analysis of Impacts on the Nation (TRAIN) Act. Introduced by Rep. Sullivan (R-OK), this bipartisan bill would establish a committee to study the cumulative and incremental economic effects of several Environmental Protection Agency (EPA) regulations.
NTU has long argued that in considering the impact of regulatory policies, government agencies often put a heavy thumb on the analytical scale in order to emphasize the benefits rather than the costs. The EPA is one of the more egregious examples. Earlier this year, NTU released a report authored by economist David Montgomery, who found that EPA’s estimate of up to $2 trillion in annual benefits from the Clean Air Act to be highly flawed and based on an econometrically unsuitable methodology (“willingness to pay”). By more conventional macroeconomic estimates – which EPA itself demonstrated – the law could actually impose an annual cost on the economy of as much as $110 billion by 2020.
The TRAIN Act would ensure more thoughtful deliberation of the effects EPA rules will have on the economy, including estimates of the impact on global competitiveness, electricity costs, and employment. With the unemployment rate at 9.1 percent and the risk of another recession increasing, it is imperative that Congress be better equipped to weigh the costs and benefits of all EPA regulations.
Roll call votes on H.R. 1705 will be significantly weighted in our annual Rating of Congress and a “YES” vote on passage will be considered the pro-taxpayer position.
If you have any questions, please contact NTU Federal Government Affairs Manager Brandon Greife at (703) 683-5700