Vote Smart's Synopsis:

Vote to adopt an amendment to HR 2804 that requires federal agencies to report on any regulation that has a "negative-impact" on jobs and wages.

Highlights:

• Requires the federal agency that made a “negative-impact rule” to publish a notice that includes a statement from the head of the agency that he or she approved the rule knowing about the findings that qualified it as a “negative-impact rule”.

• Defines “negative-impact rule” as a rule that the agency who made the rule or the Administrator of the Office of Information and Regulatory Affairs determines is likely to have the following effects:
• A reduction in employment by 1 percent or more annually during the 1 year, 5 year or 10 year period after implementation in a sector of the economy that has a 6-digit code under the North American Industry Classification System;
• A reduction in average weekly wages for employment by 1 percent or more annually during the 1 year, 5 year or 10 year period after implementation in a sector of the economy that has a 6-digit code under the North American Industry Classification System; 
• A reduction in employment in an industry area in which the most recent annual unemployment rate is greater than 5 percent; or
• A further reduction of the employment level in an industry area in which the Bureau of Labor Statistics projects that the employment level will decrease by 1 percent or more.

Full Bill Text

Full Bill Text