Seizing on growing desire in Washington, at both ends of Pennsylvania Avenue, for real and meaningful regulatory relief and reform for American businesses, Senators Rob Portman (R-OH) and Heidi Heitkamp (D-ND) introduced the Regulatory Accountability Act (RAA). An identical companion measure has passed the full House of Representatives on January 11, 2017, setting the table for Senate action in the near future. NMHC/NAA strongly support the legislation because it would improve the transparency of executive branch regulations by requiring federal agencies to invest more effort earlier in the rulemaking process to gather data, evaluate alternatives, and receive public input about the costs and benefits of its rules. A recent coalition letter that NMHC/NAA joined urging its consideration can be found here.
The newly introduced legislation is just one tool NMHC/NAA is advocating for with the goal of reining in the burdensome federal regulatory regime. NMHC/NAA recently sent a letter (link to letter once fixed) to President Trump and his Administration, which lays out a comprehensive list of regulations at the federal level that should be scaled back, clarified or abolished completely. In totality, these regulations often make the development, operation, and ownership of multifamily housing more expensive and cost-prohibitive.
NMHC/NAA have long called for an overhaul of the regulatory framework employed by the federal government, as our industry is continuously impacted by burdensome regulatory processes and significant related costs, including from rules related to issues from finance, to property operations, to environmental requirements.
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