Credit: businessinsider.com

Senator Robert Portman (R-Ohio) has introduced the Independent Agency Regulatory Analysis Act (IARAA) of 2012. Bill S.3468 creates an avenue whereby independent regulatory agencies like the SEC or FTC could affect legislation in favor of reducing the ‘economic burden’ of new and existing financial regulations. Susan Collins (R-Maine) and Mark Walker (D-Virginia) are both cosponsors.