The US House of Representatives has passed legislation intended to reduce the costs of regulations on the nation’s economy.
H.R. 1155, Searching for and Cutting Regulations that are Unnecessarily Burdensome (SCRUB) Act, passed by a vote of 245-174 on 7 January, and establishes a commission to review existing federal regulations and identify obsolete or unnecessary ones that should be repealed.
The bill aims for a 15% reduction in the overall cost of regulations and directs agencies to review all regulations within 10 years of its enactment. The SCRUB Act is part of an ongoing House effort, supported by NSSGA, to relieve some of the federal regulatory burden that is limiting productivity and economic prosperity.
According to a recent estimate, the burden of federal regulations has reached US$1.86 trillion, which adds up to about US$15 000 annually per US household. The same study concluded that Americans worked an estimated 77 days per year to cover the cost of federal regulations that are a burden on families and businesses large and small, including aggregates companies.
“My mission with the SCRUB Act is to require a full evaluation of all 175 000-plus pages of the Federal Register and identify outdated and ineffective regulations for removal,” said Rep. Jason Smith, R-Mo., the bill’s sponsor. “This streamlining will lessen regulatory burdens on small businesses and give them the freedom to innovate and grow.”
Read the article online at: https://www.worldcement.com/the-americas/11012016/nssga-supports-house-effort-regulatory-burden-292/