Excessive Regulation Costs US Economy $2 Trillion Dollars

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Posted by Katie McAuliffe on Tuesday, January 5th, 2016, 4:08 PM PERMALINK


Agencies continually enact new regulations without eliminating unneeded, obsolete and conflicting regulations. These regulations weigh down the US economy with a $2 Trillion price tag.

On Wednesday the House will consider the SCRUB Act, (H.R. 1155, “Searching for and Cutting Regulations that are Unnecessarily Burdensome Act of 2015).  Americans for Tax Reform supports this legislation, which creates a BRAC-style commission tasked with ferreting-out obsolete or excessive rules for amendment or elimination.

Many regulations are too difficult to interpret, requiring businesses and individuals to enlist professional help.  On Friday the House will consider the Providing Accountability Through Transparency Act of 2015, H.R. 690.  Americans for Tax Reform supports this legislation as well. It requires agencies post an easily accessible 100-word plain language summary of any new regulation online.

Together The SCRUB Act and the Providing Accountability Through Transparency Act will help streamline and modernize our federal regulatory system.

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