Bloomberg BNA (03/27/12) Stephen Lee

The U.S. House Judiciary Committee has approved bill HR 4078, which would prohibit federal agencies from advancing new significant regulations until the unemployment rate falls to 6%. The proposed Regulatory Freeze for Jobs Act, sponsored by Rep. Tim Griffin (R-AR), now heads to the full House for consideration. The committee also approved a manager’s amendment that would allow the president to submit a regulation to Congress that does not fall under one of the bill’s other exemption parameters. Those exemptions include rules that are considered “necessary because of an imminent threat to health or safety or other emergency, for the enforcement of criminal laws, or for U.S. national security, or issued to implement an international trade agreement.”