Congressional approval of major new regulations. Support efforts to strengthen the authority under the Congressional Review Act or similar legislation to require congressional approval before any major rule (defined as having a cost in excess of $100 million) can take effect. Such authority would provide some check against regulatory agencies and improve the accountability of Congress in terms of the appropriate latitude given to federal agencies in federal statutory language.
Establish a congressional office of regulatory analysis. Support the creation of an independent, non-partisan office that would function like the Congressional Budget Office but would be focused on reviewing the impact of proposed legislation and the presumed costs and benefits of proposed federal regulations.
Establish a sunset review for existing federal rules. Support the establishment of a federal sunset process for existing rules that will ensure that regulatory agencies periodically review the need for older regulations, as well as integrate needed updates and reforms into any new regulations being promulgated.
General regulatory policy.
- Support efforts by the federal government to allow the marketplace to be governed effectively by market dynamics and minimize regulatory burdens.
- Support policies established by government agencies that ultimately seek to empower customers, not regulators.
- Support a regulatory climate that does not impose hidden taxes on employers and consumers through excessive rules, fees and fines and reduces excessive regulations in order to promote, rather than impede, economic growth, investment and job creation.