Online Poker, Auto Workers and Public Works Programs
December 1, 2008
Citigroup Bailout, Sexual Harassment and Union Elections
November 25, 2008
Obama's Treasury Pick, Waxman's Chairmanship and the Big Tobacco Deal
November 24, 2008
Congress Examines Burdens of Federal Regulation
Crews Urges Reform of Regulatory Process
Washington, D.C., July 30, 2008—Today members of the House Small Business Committee are hearing testimony on the burdens of federal regulation and the need for reform. Wayne Crews, Vice President for Policy at the Competitive Enterprise Institute, urges committee members to take greater responsibility for the costs imposed by regulations and reign in overzealous rule makers.
“Regulations should be accounted for like federal spending,” said Crews. “Thus, whenever possible, Congress should answer for the compliance costs – as well as the benefits – of federal regulations.”
In 2007, the costs of federal regulatory compliance soared to $1.16 trillion, about as much as all individual income taxes. These costs are calculated and analyzed in an annual report titled “Ten Thousand Commandments: An Annual Snapshot of the Federal Regulatory State.” Author Wayne Crews urges lawmakers to adopt a series of reforms to make the cost of regulation more transparent and accountable to the people, including annual regulatory “report cards.” Congress should also be required to vote on significant agency rules before they are binding.
Among the officials testifying today is Thomas Sullivan, Chief Counsel for Advocacy of the U.S. Small Business Administration. Sullivan will be explaining the SBA’s “Regulatory Review and Reform” program, which allows business owners to suggest needed reforms.
“Government is spending more than ever before – $2.73 trillion – and the President has submitted a $3 trillion spending plan for next year,” said Crews. “Between paying taxes and paying to comply with government regulations, it’s a crushing burden for American businesses and workers. The least Americans should ask is that their elected representatives examine these rules before go into effect.”
***Watch the “Ten Thousand Commandments” video here.***
CEI is a non-profit, non-partisan public policy group dedicated to the principles of free enterprise and limited government. For more information about CEI, please visit our website at www.cei.org.
