Major Regulatory Reform 

Washington 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 a say.

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.

Congressman 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 competitive."