Soy Growers Back the Regulatory Accountability Act

The American Soybean Association (ASA) joined a group of agriculture organizations in sending a letter to Senators within the Senate Homeland Security and Governmental Affairs Committee in support of S. 951, the Regulatory Accountability Act.

Sens. Rob Portman (R-OH) and Heidi Heitkamp (D-ND) introduced the bill  aimed to provide regulatory relief through amending the Administrative Procedure Act to require a cost-benefit analysis of new regulations; ensuring major regulations are reviewed at least every 10 years; increasing transparency on scientific and economic data; and allowing stakeholders to request federal agency hearings on regulations.

This bill is also founded on principles of a white paper on regulatory reform released last year with ASA’s support. Principles include transparency, robust stakeholder engagement, sound science, cost-benefit analysis and federalism.

The Senate Committee on Homeland Security and Governmental Affairs this week approved the Regulatory Accountability Act with bipartisan support. The bill is similar to a regulatory reform bill that passed the House.

More information on the bill can be found here and here.