Lankford Subcommittee Discusses Solutions for Improving Federal Regulatory Process
WASHINGTON, DC – The Homeland Security and Governmental Affairs Subcommittee on Regulatory Affairs and Federal Management, under the chairmanship of Senator James Lankford (R-OK), today held a roundtable discussion on bipartisan ideas to provide immediate improvement to the federal regulatory process. The subcommittee’s roundtable was entitled, “Examining Practical Solutions to Improve the Federal Regulatory Process.”
“The more anyone examines our massive federal regulatory state, the more they will find a regulatory process in need of serious change,” said Lankford. “Our goal to achieve comprehensive regulatory reform legislation should not hinder pursuit of smaller bipartisan reform solutions where possible. Today’s roundtable provided a great dialogue about smaller proposals that could be pursued now, such as legislation that codifies regulatory impact analysis requirements, automatic retrospective review of major rules, and requirements for earlier analysis and public input on proposed rules. On behalf of our private sector and families, we must relentlessly press forward toward a more workable regulatory process so our economy can grow and provide more opportunity for all. ‘We the people’ should have input on regulations, not just ‘they the government’.”
Regulatory Reform Proposals Discussed Include:
- Automatic retrospective review of economically significant rules
- Regulatory impact analysis requirements
- Requirement of earlier analysis and public input on new regulations
- Improved legislative process that considers all possible regulatory consequences
Today’s roundtable was the Subcommittee’s first of the year.
A Subcommittee initiative to identify harmful regulations and regulatory processes already underway is the bipartisan #CutRedTape Initiative, a way for American families and businesses to communicate with the Senate about how federal regulations impact them. Subcommittee Ranking Member Senator Heidi Heitkamp (D-ND) joined Lankford in launching the initiative in March. So far, the Initiative has received more than 150 submissions.
Notable Comments From Roundtable Guests:
Dr. Michael Greenstone, Milton Friedman Professor of Economics and Director of the Energy Policy Institute at the University of Chicago said, “…in today’s economy, it is absolutely essential to design a regulatory structure that protects the well-being of our citizens without imposing unnecessary costs on American businesses and society as a whole. We can achieve these objectives without compromising our values in key areas ranging from the protection of public health to the supervision of financial markets by ensuring that the Executive and Legislative branches have the tools of analysis and measurement they need to review current and proposed regulations.”
Susan Dudley, Director of the Regulatory Studies Center and Distinguished Professor at the George Washington University Trachtenberg School of Public Policy and Public Administration, said, “Though regulation affects every aspect of our lives, as a policy tool, it rarely reaches the attention of voters (and consequently of elected officials) because, unlike the federal budget, its effects are often not visible. Like the direct government spending that is supported by taxes, regulations are designed to achieve social goals, but the costs of regulations are hidden higher prices paid for goods and service and in opportunities foregone.”