Sunday, August 14, 2022

Wicker: Excessive Regulations Are the Enemy of Job Growth

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U.S. Senator Roger Wicker, R-Miss., is supporting a bipartisan measure to help repeal and consolidate outdated federal regulations. The “Regulatory Improvement Act,” sponsored by Sens. Angus King, I-Maine, and Roy Blunt, R-Mo., would create a commission to review all federal regulations with the goal of reducing costs for job creators, encouraging growth, and improving competitiveness.

“Excessive regulations are the enemy of job growth,” Wicker said. “Repealing outdated rules and contradictory government mandates would help strengthen our economy and put Americans back to work. With the size of the U.S. workforce at a historic low, Congress should take strategic steps, such as this proposal, to unleash the American workforce.”

Under current law, regulations are screened prior to enactment and, once implemented, agencies are encouraged to conduct retrospective reviews but often fail to do so. In 2014, more than 3,500 regulations were finalized, 80 of which were considered “major” rules that would have an annual economic impact of at least $100 million.

Members of the bipartisan commission would be appointed by congressional leadership and the President. Regulatory reviews would give special consideration to the impact of regulations on small businesses. A final report containing regulations in need of streamlining, consolidation, or repeal would be submitted to Congress for approval.

The legislation directs the House and Senate to consider the report under expedited legislative procedures, allowing relevant committees to review the report but not amend the recommendations. The bill would then be placed on the calendar of each house for privileged floor consideration.

The legislation has been endorsed by the U.S. Chamber of Commerce, the National Association of Manufacturers, the National Federation of Independent Business, and the Progressive Policy Institute.

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