House passes RR bill

On 26 July, the House of Representatives passed a comprehensive regulatory reform bill to cut red tape and make the federal rulemaking process more friendly to job creators. The measure included several provisions previously passed by the House Committee on Oversight and Government Reform. "The Obama Administration has issued some 106 rules in its first three years that collectively will cost taxpayers more than $46 billion annually in compliance and lost productivity. This is four times the number of major regulations and five times the cost of rules issued in the prior administration's first three years," Oversight and Government Reform Committee Chairman Issa said. "In more than 30 hearings, examinations and public forums, our Committee has heard loud and clear from job creators across the country who tell us that red tape imposed by the federal government chokes economic expansion and hurts job creation. Nonpartisan research surveys report that the American public feels the same way—with an overwhelming majority saying federal regulations are a major reason why the economy is struggling. This bill helps unwind much of this unnecessary red tape and frees entrepreneurs and business owners to do what they do best: create jobs and opportunity," Issa added.
For more and how this bill relates to the Administration regulatory policy, see the full press release.