Congress readies a new regulatory contract. (environmental law)

An all-out effort to bring risk analysis to the rule making process is about to move to center stage of Congress because of November's electoral temblor and the Republican Contract with America.

Industry leaders welcome the upcoming legislative debate as a giant step toward regulatory relief; but while businesses face a key opportunity to bring risk concepts into the political mainstream, industry insiders are also concerned about how lawmakers are interpreting complex risk issues. Meanwhile, environmental groups say the Republican-led effort will enable industry to tie up regulations and enforcement actions in court, further muddling the regulatory process.

One of the first orders of business when Congress reconvenes will be the Job Creation and Wage Enhancement Act, part of the Contract with America. It calls for risk assessment and cost- benefit analyses for almost all new regulations, a ceiling on …