Regulatory Reform Legislation Statement on Approval by the Senate Governmental Affairs Committee.

I am delighted that the Senate Governmental Affairs Committee has approved the bill to reform regulatory procedures (S. 262). The unanimous vote of the committee this morning means that we have taken another major step to, ward making regulations more cost-effective and more efficient. I hope that the Congress will take quick action to pass the legislation. It is an important part of our long-range program to minimize the inflationary impact of Federal regulations on the Nation's economy.