PoliticalNews.me - Feb 26,2017 - Portman Praises President's Action on Regulatory Reform to Reduce Costly Red Tape
Senator Portman Plans to Introduce the Regulatory Accountability Act Soon
LEETONIA, OH – U.S. Senator Rob Portman (R-OH) welcomed President Trump’s executive action on regulatory reform, saying it is an important step towards reducing burdensome red tape that undermines job creation and economic growth. He issued the following statement:
“We need a smarter regulatory process that promotes job creation, innovation, and economic growth. The president’s action today provides more accountability to this effort by establishing task forces to identify inefficient and outdated regulations, requiring agencies to measure and report on progress in accomplishing the President’s regulatory reform objectives, and providing a point of contact at each agency who is charged with addressing regulatory reform. In the coming weeks, I plan to introduce the Regulatory Accountability Act, which would help ensure we have a less costly, more stable regulatory environment that will spur job creation and investment in America. The House has already passed its version of this common-sense legislation, and the Senate should do the same.”
NOTE: Senator Portman plans to introduce the Senate version of the Regulatory Accountability Act. He has been the lead author of this regulatory reform effort in previous Congresses. The Regulatory Accountability Act would reform the federal regulatory process by requiring cost-benefit analysis across all agencies, improving transparency in the rulemaking process, and providing a more rigorous examination of facts underlying the most expensive rules. The House of Representative passed the House version of the Regulatory Accountability Act (H.R. 5) on January 11 by a vote of 238-183.