By Nick Goldstein, vice president of regulatory affairs & assistant general counsel, ARTBA

The U.S. House of Representatives Sept. 21 passed legislation to delay the implementation of regulations that create an annual burden of $1 billion or more on the economy until such rules pass judicial review. H.R. 3438, the “Require Evaluation before Implementing Executive Wishlists” (REVIEW) Act cleared the chamber 244-180.

“Businesses should not be forced to gamble that when they commit their resources to comply with a multi-billion dollar rule, the rule will subsequently be struck down and their resources totally wasted,” ARTBA and more than 175 industry allies wrote in a Sept. 20 letter to House members supporting the bill.

The REVIEW Act now moves to the Senate, which has not indicated when or if it will vote on the legislation. The Obama administration has also promised to veto the measure.

Read the coalition letter.