U.S. House approves bill creating extra hurdles for new rules

Lawmakers in the U.S. House of Representatives voted on Tuesday to approve legislation that creates new hurdles for agencies writing federal regulations, a plan the White House opposes.

The House voted 250-175 for the Republican-backed bill that would require agencies, including financial regulators implementing the 2010 Dodd-Frank law, to make sure their rules impose the lowest possible costs on businesses.

The bill would also require more public notice before an agency writes a new rule and make it easier for businesses to challenge federal regulations in court.

"The effects of excessive government regulation are real for the American people," Representative Bob Goodlatte, a Virginia Republican who introduced the measure, said in a statement.

Republicans, who control both houses of the U.S. Congress after last November's electoral wins, want to ease what they see as a burden on businesses created by environmental rules, the Dodd-Frank law and the 2010 U.S. health system overhaul.

President Barack Obama has threatened to veto the bill if it passes the U.S. Senate. In a statement on Monday, the White House said the law would "impose unnecessary new procedures on agencies and invite frivolous litigation."

Tags

U.S. House of Representatives, White House, Republican, 2010 Dodd-Frank law, U.S. Congress

Copyright Thomson Reuters. All rights reserved.