House Republican pushes bill to 'curb regulatory overreach'

 House Republican pushes bill to 'curb regulatory overreach'

A House Republican is pushing for more transparency in the rulemaking process.

Rep. Charles BoustanyCharles William BoustanyMarch tariff increase would cost 934K jobs, advocacy group says Bottom Line On The Money: US adds 155k jobs in November | Unemployment holds at 3.7 percent | Wage growth strengthening | Trump signs stopgap spending bill delaying shutdown MORE (R-La.) this week introduced the Federal Agency Complete Transparency (FACT) Act, which would require federal agencies to publish a cost-benefit analysis before issuing any major rule that could have an economic impact of more than $100 million.

Boustany, who is running to replace outgoing Sen. David VitterDavid Bruce VitterBottom line The biggest political upsets of the decade Red-state governor races put both parties on edge MORE (R-La.), said his bill would help “curb regulatory overreach by federal agencies.”

“The Obama Administration has successfully weaponized the regulatory process as a tool to wage war against oil and gas, agriculture, the financial services industry, and more,” Boustany said in a statement.

"The FACT Act forces bureaucrats to justify any proposed major rule with a publicly available cost-benefit analysis, giving industry adequate time to develop a strong legal and legislative defense against the administration’s regulatory assault,” he added. 

The bill was introduced Wednesday and has no co-sponsors.