New GOP bill takes aim at $1 billion regulations

GOP lawmakers have introduced legislation that would stop agencies from being able to enact rules with price tags over $1 billion that are challenged in court.

House Judiciary Committee Chairman Bob GoodlatteRobert (Bob) William GoodlatteTop Republican releases full transcript of Bruce Ohr interview It’s time for Congress to pass an anti-cruelty statute DOJ opinion will help protect kids from dangers of online gambling MORE (R-Va.) and Regulatory Reform, Commercial and Antitrust Law Subcommittee Chair Tom Marino (R-Pa.) have introduced the Require Evaluation before Implementing Executive Wishlists, or REVIEW Act of 2015.

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Sen. Dan CoatsDaniel (Dan) Ray CoatsThe Hill's 12:30 Report: Trump targets Iran with new sanctions CNN's Jake Tapper repeatedly presses Pence on whether he thinks climate change is a threat Hillicon Valley: Tim Cook visits White House | House hearing grapples with deepfake threat | Bill, Melinda Gates launch lobbying group | Tech turns to K-Street in antitrust fight | Lawsuit poses major threat to T-Mobile, Sprint merger MORE (R-Ind.) has introduced companion legislation in the Senate with co-sponsor Sen. James Lankford (R-Okla.). 

The legislation would automatically stay the effective dates of a new regulation that would have an economic impact of more than $1 billion if a legal challenge to the rule is filed in court.  The stay would remain in place until the legal challenge is resolved.

“The regulatory burden Washington passes along to the American people is badly exacerbated when billions of dollars of unnecessary compliance costs must be expended during ultimately successful challenges to unlawful regulations,” Goodlatte said in a statement. “The bill introduced today will prevent the waste imposed by regulations that the courts ultimately will reject.”

The bill, unveiled Tuesday, comes a day after the Obama administration released sweeping new standards to cut carbon emissions from power plants across the country. The rules are expected to cost up to $8.4 billion, though the administration says they will create $54 billion in economic benefits.

Several conservative state attorneys have already announced plans to challenge the Environmental Protection Agency rules in federal court.