February 6, 1995
TO: BOARD OF GOVERNORS No. 20-95
FEDERAL LEGISLATION COMMITTEE No. 8-95
FEDERAL LEGISLATION MEMBERS No. 8-95
RE: DOLE/NICKLES REGULATORY RELIEF LEGISLATION
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On February 2, Senate Majority Leader Bob Dole (R-KS), and Don Nickles (R-OK),
introduced legislation aimed at reducing the regulatory burden faced by U.S. businesses. As
introduced, S. 343, the "Comprehensive Regulatory Reform Act of 1995," would have sweeping
impact on current agency rule-making authority.
The legislation is crafted as an amendment to the Administrative Procedures Act, and
would place a number of restrictions on agency discretion. Such changes include the
preparation of a cost-benefit analysis as a part of normal rule-making procedures, and a 45-day
Congressional review period during which Congress could enact a joint resolution of
disapproval subsequent to the enactment of a regulation.
This bill is related to legislation introduced earlier this year in the House and the Senate.
The "Regulatory Transition Act," introduced as S. 219 by Senator Nickles, and as H.R. 450 by
Majority Whip Tom Delay (R-TX), would impose a 90-day ban on new government regulations.
That both House and Senate Republican leaders have sponsored legislation of this type is
indication that Congressional action on regulatory reform is possible.
Separately, House Speaker Newt Gingrich (R-GA) has announced that he intends to
create a "Corrections Day" procedure on the floor of the House. As currently contemplated, the
procedure would allow Members to request on a periodic basis that certain regulations
perceived as unduly burdensome be placed on the legislative calendar for elimination under
expedited rules. To date, this idea is neither formal nor final.
A copy of S. 343 and Congressional Record remarks by Senator Dole are attached.
We will keep you informed as these matters develop. For additional information, please
contact the Legislative Affairs Department at (202) 326-5890. This memo can also be found on
FUNDS, the Institute’s Fund User Network and Delivery System, under "Legislative Affairs;
Washington Update."
Julie Domenick
Senior Vice President
Legislative Affairs
Enclosures