Overnight Regulation: Regs on the chopping block in omnibus

Welcome to Overnight Regulation, your daily rundown of news from Capitol Hill and beyond. It's Wednesday evening here in Washington, where everyone is sorting through this enormous government spending bill. Here's the latest.

 

THE BIG STORY

The gigantic $1.1 trillion government spending bill unveiled Wednesday would roll back a number of controversial regulations.

The omnibus includes provisions that would block the Securities and Exchange Commission (SEC) from requiring companies to disclose political spending, bar the IRS from cracking down on so-called dark money groups, and delaying a calorie counting rule from the Food and Drug Administration (FDA).

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But the government spending bill also paves the way for GMO labeling and lifts an infamous Capitol Hill sledding ban.

Here's what you need to know:

--The SEC will not be allowed to require publicly-trade companies to disclose their political spending activities. http://bit.ly/1TQD2oV

--The FDA must delay an ObamaCare rule that requires restaurants and grocery stores to list the number of calories in the prepared foods they sell. http://bit.ly/1ZcPgMj

--The IRS would be prohibited from going after the Obama administration's political opponents, such as conservative Tea Party groups. http://bit.ly/1I9L4Jc

--The Justice Department would be blocked from prosecuting people who are following their states' medical marijuana laws. http://bit.ly/1moBwjx

--The FDA would be required to issue guidelines for labeling genetically-modified salmon. http://bit.ly/1JbReU1

--The Capitol Police's infamous sledding ban would be lifted. http://bit.ly/1O8Yx6r

 

TOMORROW'S REGS TODAY

The Obama administration will publish 165 new regulations, proposed rules, notices and other administrative actions in Thursday's edition of the Federal Register.

--The Commodity Futures Trading Commission (CFTC) will propose new rules for "modern financial markets."

The rules establish risk controls, transparency measures and safeguards for automated trading -- including algorithmic trading systems and electronic trade matching engines, the agency noted.

The public has 90 days to comment. http://bit.ly/1O74lHl

--The Consumer Product Safety Commission (CPSC) will not issue new testing requirements for certain toys.

The CPSC determined that unfinished and untreated wood does not need to be tested for heavy elements before it is used in toys.

The rule goes into effect in 30 days. http://bit.ly/1YifTCz

--The National Highway Traffic Safety Administration (NHTSA) will issue new rules for license plates.

Car manufacturers will have more flexibility in mounting license plate holders, the agency noted.

The new rules go into effect in 180 days. http://bit.ly/1UB4qs5

--The Environmental Protection Agency (EPA) will delay new water regulations.

The EPA is considering regulating storm water discharges from forest roads, but said Wednesday it is extending the comment period to give the public more time to discuss the rule.

The public has until Feb. 12, 2016 to comment. http://bit.ly/1m8kt4Q

 

NEWS RIGHT NOW 

Capitol Hill sledding ban lifted in Omnibus http://bit.ly/1O8Yx6r

Dems introduce bill to ban assault weapons http://bit.ly/1T2jcXP

Deal blocks IRS from cracking down on 'dark money' groups http://bit.ly/1I9L4Jc

Spending bill blocks SEC political disclosure rule http://bit.ly/1TQD2oV

Marijuana legalization sputters in government spending bill http://bit.ly/1moBwjx

Advocates win labels for GMO 'frankenfish' http://bit.ly/1JbReU1

IRS targets political donors – The Wall Street Journal http://on.wsj.com/1O7H4er

Federal employees on tap for pay raise after Congress takes no action – The Washington Post http://wapo.st/1IUjmA0

Fed raises key interest rate for first time in almost a decade – The New York Times http://nyti.ms/1RSIo4G


BY THE NUMBERS

2,009: The number of pages in the government spending bill. 

$150,000: How much FDA has been directed in omnibus to spend on a mandate forcing food manufacturers to label if salmon is genetically engineered.

 

QUOTE OF THE DAY

"The budget process continues to be hostage to extraneous policy demands," Friends of the Earth Climate and Energy Campaigner Lukas Ross said in a statement. Green groups criticized a number of policy riders they said limited environmental regs as well measures lifting the crude oil export ban.

 

We’ll work to stay on top of these and other stories throughout the week, so check The Hill’s Regulation page (http://thehill.com/regulation) early and often for the latest. And send any comments, complaints or regulatory news tips our way, tdevaney@thehill.com or lwheeler@thehill.com. And follow us at @timdevaney and @wheelerlydia.

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