Law360, New York (August 2, 2012, 3:37 PM EDT) -- Legislation introduced Wednesday in the U.S. Senate would authorize the president to require cost-benefit analyses of new regulations from independent federal agencies that supervise companies in financial services, telecommunications and other sectors — a proposal some observers call a backdoor method of neutralizing effective oversight.
The bill from Sens. Mark Warner, D-Va.; Rob Portman, R-Ohio; and Susan Collins, R-Maine, would apply to regulations with an economic impact of $100 million or more and place additional pressure on regulators to justify mandates on business.
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