No Corporate Con Job: Stop the Regulatory Accountability Act
The Regulatory Accountability Act is a dangerous bill that's already passed the House, and has an alarmingly real chance of being approved by the Senate and signed into law by Donald Trump.
Dressed up in technocratic language, this dangerous legislation requires federal agencies to go through a maze of new hurdles – including dozens of studies, skewed in favor of Wall Street and corporate interests – before they even propose a rule to protect the public interest. Once a rule has been issued, Wall Street also gets a bundle of fresh excuses for filing lawsuits to stop anything they don’t like.
The case for this bill rests on a false image of regulators rushing rules out, with little regard for their effects. In fact, agencies already have to consider costs and benefits and take industry opinions into account, and rules often take years to be proposed and finalized. Wall Street already has too much sway, not too little. As Americans know all too well, the price of delayed or inadequate regulation can be very steep: the financial crisis of 2008 cost the U.S. economy trillions of dollars and millions of jobs, and led to millions of families losing their homes.
Please help us defeat this dangerous special-interest legislation, which would make it impossible for federal agencies to write rules to hold Wall Street accountable, and have a devastating impact on health, safety, and environmental protections as well.
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