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Sessions Statement on SEC Regulatory Accountability Act

WASHINGTON, DC – U.S. Congressman Pete Sessions (R-TX), Chairman of the House Rules Committee, today released the following statement regarding House passage of H.R. 1062, the SEC Regulatory Accountability Act:

“I applaud the House’s action today to hold the SEC accountable by requiring it to review proposed and existing regulations on the financial industry. It’s imperative that we make certain that the benefits of any government rule outweigh the costs. This legislation will also help us to ensure that the SEC responsibly provides certainty, minimizes costs, and maximizes effectiveness.

“Under the Obama Administration, job creators have been hit with an unprecedented onslaught of rules and regulations without consideration of how they impact our economy. I’m pleased that the House approved my amendment to H.R. 1062, which requires the SEC to also measure the impact of any regulation on jobs in the public and private sectors. Job creation remains my top priority in Congress and I will continue to promote common-sense ideas that will help reduce unnecessary red tape and unleash our economy.”

Created: May 17, 2013