Major Regulatory Reform
D.C., House of Representatives, Representative Paul Cook (R- Apple
Valley) voted for H.R. Bill 5, the Regulatory
Accountability Act of 2017. The Bill passed the House by a 238-183 margin Thursday January 12, 2017.
H.R. 5 takes aim
at the problem of overreaching federal regulation by eliminating excessive red tape and regulations, lifting an
unnecessary burden on hardworking Americans, and promoting jobs, innovation,
and economic growth. The legislation brings together six separate reform bills
that passed the House previously with bipartisan support.
Specifically this legislation promotes transparency by requiring publication of
easy-to-understand online summaries of new proposed rules as well as
proposed costs. It also requires agencies to choose the lowest-cost rulemaking
alternative, permitting costlier rules only when justified. It also prohibits
new billion-dollar rules from taking effect until the courts and Congress have
The annual cost of federal regulations adds up to
approximately $1.86 trillion, or $15,000 in regulatory costs per family each
year. According to the National Association of Manufacturers, 90% of small
business owners support reforming the regulatory process.
Cook comments, “Small businesses are being strangled by overregulation. We ought to be
reducing regulations on them, so we can generate jobs for more Americans. The
Obama administration has imposed a record number of major regulations, more
than 600 during his time in office. This legislation begins to reverse some of
the regulatory overreach and will help our businesses become more