Congress should include a regulatory budget in its final budget for 2017, free market groups urged today in a coalition letter to the Hill.
"Specifically, Congress should pass a budget that includes the regulatory budget put forward by House Budget Committee Chairman Tom Price (R-Ga.) in the new House Budget Resolution for Fiscal Year 2017," the letter urges. The chairman’s budget is remarkable for including a seven-point section on regulatory budgeting and reform that, for example, "require[s] an annual, congressional regulatory budget that establishes annual costs of regulations and allocates these costs amongst Federal regulatory agencies."
Currently, reporting and tracking on the costs associated with federal regulations is minimal and inconsistent, despite the fact regulations impose a huge, hidden cost on the American economy.
The coalition letter was led by the Competitive Enterprise Institute and signed by a total of 15 free market groups: American Commitment, Americans for Tax Reform, Campaign for Liberty, Center for Individual Freedom, Center for Regulatory Effectiveness, Citizens Against Government Waste, FreedomWorks, Frontiers of Freedom, Log Cabin Republicans, Main Street Growth Project, National Taxpayers Union, R Street Institute, Small Business & Entrepreneurship Council, Taxpayers Protection Alliance.