Inhofe floats bill to require broad economic analysis of EPA rules

Sen. James Inhofe (R-Okla.) will introduce legislation Wednesday requiring a wide-ranging analysis of the economic effects of Environmental Protection Agency regulations.

The bill comes as Republicans have alleged that EPA’s rules are an assault on the economy. A House panel passed legislation Tuesday to eliminate the agency's authority to regulate greenhouse gas emissions and the Republicans are hoping to vote on the bill as an amendment to small business legislation.

Inhofe and other Republicans have said the agency has not adequately analyzed the economic implications of its regulations.

Inhofe’s legislation would set up a committee comprised of a number of top Obama administration officials, including the secretaries of Agriculture, Defense, Energy, Commerce and Labor. The committee would also include the administrator of the EPA and the head of the Small Business Administration.

The officials will be charged with conducting a “comprehensive analysis” of the effects of the agencies regulations focused on manufacturing, agriculture, major industries, jobs and small businesses.

The analysis will take into account EPA’s climate rules as well as regulations on industrial boilers and ozone.

EPA, for its part, maintains that its regulations will not impose undue economic burdens on industry.