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January 19, 2015

Boosted By U.S. Chamber/MSCI Coalition Letter, U.S. House Passes Regulatory Reform Bill

Early last week, the U.S. House passed H.R. 185, the Regulatory Accountability Act of 2015, on a bipartisan 250 to 175 vote. H.R. 185 would require federal agencies to conduct cost-benefit analyses of impending regulations. (Click here to see how your representative voted.) With the U.S. Chamber of Commerce, MSCI signed a multi-industry letter to members of the U.S. House in support of H.R. 185. 

The letter was essential during the floor debate. House Judiciary Committee Chairman Bob Goodlatte (R-VA), who sponsored the bill, referenced the letter to show broad support for the legislation. Chairman Goodlatte read some of the groups that signed the letter, but stopped after naming many and said, “we haven’t even gotten all the way through the A’s in this list.” 

The legislation is just one of several regulatory reform bills the House and Senate are expected to consider over the coming months. Indeed, U.S. Sens. Bill Cassidy (R-LA) and Dean (R-NV) also introduced a bill last week that would give the Congress and the U.S. Energy Department oversight over U.S. Environmental Protection Agency regulations that are estimated to cost more than $1 billion. MSCI will support this legislation and other efforts to rein in regulatory overreach.