Republicans to hold oversight hearing on Obama's regulatory review

Under Obama's regulatory plan, all the economic effects of all existing regulations must be reviewed and new regulations must meet a series of new standards. The plan requires that the Environmental Protection Agency's upcoming climate rules, among other environmental regulations, undergo additional scrutiny, but Obama administration officials have said the review likely won't alter the rules.

Asked if the new framework is a sign that the administration is willing to meet Republicans halfway on its regulations, Upton said, "We’ll see, the proof will be in the pudding.”

The Oversight and Investigations subcommittee is chaired by Rep. Cliff Stearns (R-Fla.).