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Reps. Peterson and Goodlatte Introduce Bill to Rein in Excessive Regulatory Costs
(WASHINGTON, DC) – At the start of this Congress, Congressman Collin Peterson (D-Minn.) and House Judiciary Committee Chairman Bob Goodlatte (R-Va.) introduced H.R. 185, the Regulatory Accountability Act (RAA). This legislation requires federal bureaucrats to adopt the least costly method to effectively implement the law. Last Congress, the House of Representatives passed the RAA as part of a jobs and economic growth package.
Peterson and Goodlatte issued the following statements on the RAA:
Congressman Peterson: “This bill will streamline and bring transparency to the regulatory process, ensuring that our farmers, ranchers and small businesses are not regulated out of business. Increasing transparency and accountability will give those who will actually feel the impact of proposed regulations, rather than Washington bureaucrats, a larger voice in the process.”
Chairman Goodlatte: “Washington’s endless regulatory roadblocks continually drain Americans’ hard-earned wages and stand in the way of opportunity and growth. Today, Americans face a burden of over $3 trillion from federal taxation and regulation. In fact, our federal regulatory burden is larger than the 2013 Gross Domestic Product of all but the top ten countries in the world and most importantly, that burden adds up to $15,000 per American household, nearly thirty percent of average household income in 2013.
“The Regulatory Accountability Act addresses the problem of escalating, excessive federal regulatory costs in a clear, commonsense way that we can all support. This legislation directs the Executive Branch to fulfill its statutory goals set by Congress and requires simply that they reach those goals in the least costly way with better public input to find the most efficient regulatory solutions.”