Resources — Essays & Commentaries
Posted 3/13/14 by Common Good
Federal News Radio reports on increasing momentum in Congress toward serious reform of the outdated and costly regulatory process. At a Tuesday hearing, Sen. Rob Portman (R-Ohio) noted the dire state of federal regulations:
Each year, well over 70,000 pages of additional regulatory requirements are published in the Federal Register. In the past two decades, the code of federal regulations has expanded by as much as 25 percent to an astounding 180,000 pages. Many of these new rules do represent significant costs to the economy, regularly in excess of $100 million each year... The annual cost of federal regulations now we are estimating at $2 trillion, and this continues to grow substantially.
One reform proposal comes from Sen. Angus King (I-Maine), sponsor of the Regulatory Improvement Act, who pointed out the desperate need to address the accumulation of outdated regulation:
We need to find better ways to ensure we revisit regulations on a regular basis, [Sen.] Roy Blunt and I introduced S. 1390, which basically is a BRAC commission for regulations. The idea is an independent analysis of regulations to come before the Congress with recommendations about whether they should be continued, modified or eliminated. They'd have an expedited process in Congress. This idea, by the way, came from the Progressive Policy Institute, and it's received quite a bit of positive attention.