Congress Examines Burdens of Federal Regulation

Washington,
D.C., July 30, 2008—Today members
of the House Small Business Committee are hearing testimony on the burdens of
federal regulation and the need for reform. Wayne Crews, Vice President for
Policy at the Competitive Enterprise Institute, urges committee members to take
greater responsibility for the costs imposed by regulations and reign in
overzealous rule makers.

“Regulations
should be accounted for like federal spending,” said Crews. “Thus, whenever
possible, Congress should answer for the compliance costs – as well as the
benefits – of federal regulations.”

In 2007, the costs of federal
regulatory compliance soared to $1.16 trillion, about as much as all individual
income taxes. These costs are calculated and analyzed in an annual report
titled “Ten Thousand Commandments: An
Annual Snapshot of the Federal Regulatory State
.” Author Wayne Crews urges
lawmakers to adopt a series of reforms to make the cost of regulation more
transparent and accountable to the people, including annual regulatory “report
cards.” Congress should also be required to vote on significant agency rules
before they are binding.

Among the officials testifying
today is Thomas Sullivan, Chief Counsel for Advocacy of the U.S. Small Business
Administration. Sullivan will be explaining the SBA’s “Regulatory Review and Reform” program,
which allows business owners to suggest needed reforms.

“Government is spending more
than ever before – $2.73
trillion – and the President has
submitted a $3 trillion spending plan for next year,” said Crews. “Between
paying taxes and paying to comply with government regulations, it’s a crushing
burden for American businesses and workers. The least Americans should ask is
that their elected representatives examine these rules before go into effect.”

***Watch the “Ten Thousand Commandments” video
here.***

CEI is a non-profit, non-partisan
public policy group dedicated to the principles of free enterprise and limited
government. For more information about
CEI, please visit our website at www.cei.org.