WASHINGTON, D.C (December 6, 2016)—In a letter sent to U.S. House Paul Ryan yesterday, associations and chambers of commerce from across the country, including the Louisiana Association of Business and Industry (LABI), urged Ryan to make consideration of the “Regulatory Accountability Act” an early priority for the 115th Congress.
The letter secured 380 association signatories from 47 states and the District of Columbia representing a multitude of sectors including agriculture, energy, transportation, and manufacturing.
The groups write in the letter to Speaker Ryan, “We believe that federal regulations should be narrowly tailored, supported by strong and credible data and evidence, and impose the least burden possible, while still implementing Congressional intent.” They go on to explain, “The Regulatory Accountability Act builds on established principles of fair regulatory process and review that have been embodied in bipartisan executive orders dating to at least the Clinton administration.” You can view the full letter here.
Stephen Waguespack, President and CEO of the Louisiana Association of Business and Industry (LABI), stated: "Excessive regulations from DC are suffocating the American dream for many businesses of all sizes. This avalanche of red tape and hidden costs are holding back economic growth and job creation. The Regulatory Accountability Act will bring much needed common sense to government."
The “Regulatory Accountability Act” would improve the transparency of regulations by requiring agencies to invest more effort earlier in the rule-making process to gather data, evaluate alternatives, and receive public input about the costs and benefits of its rules.