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Bill requiring cost of regulations to be revealed

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    What is bipartisan group proposing?

  • Duration 4:02
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In the past ninety days the federal government has posted 6170.

Proposed regulations to the site regulations dot gov.

Now a bipartisan group in congress is proposing a bill that would require an explanation of exactly how much these regulations are gonna cost.

Joining us now and it's one of the co sponsors of the bill Republican congresswoman Virginia -- thank you so much for today -- -- well now I know that by executive order last year the president told these agencies if you're going to propose new regulation you have to explain how much it costs.

Becky and I and these and many of them are being issued with no cost benefit analysis you're bill would go even further what's the plan it.

Would this would close loopholes in the bill that was passed in 1995.

Call on more of the unfunded.

Regulation and act.

What we want to do is make sure that.

The American public and the people who are writing the regulations.

Know what the regulations are going to cost.

Regulations are -- hidden tax on the American people.

On businesses.

Even on government's other governments and so will we want to do is make sure that people understand that.

And hopefully look for alternatives.

You know we've got a terrible debt problem.

And we're all searching for ways to solve that but one of the ways we can do it -- to reduce.

The cost of regulations to everyone.

And so many of these regulations you mention a number different places that they're going to head which are businesses private businesses but.

State and local governments as well I mean unfunded mandates that come their way.

They have to comply but somebody's got to pay for it.

That's exactly right and this the American people who are paying for it.

But -- bill passed in 95 -- great bipartisan support then passed the house and the senate.

It would be huge support.

I'm really police that we've got bipartisan support on this because both Democrats and Republicans understand.

They we can help solve our debt crisis by.

Reducing the costs of regulations on the American people and as you say.

On the other governments because if they're using this money for unnecessary regulations they're not hiring teachers they're now hiring firefighters.

And so we want to bring down the cost of government and allow the money to be used more wisely.

It's always good to hear of anything bipartisan in Washington and I know that you -- have strong support on both sides of the -- -- Something I thought was interesting is that what you're asking these agencies to do when they put out piece -- regulations are proposed regulations.

-- not just to tell how much it's gonna cost comply with -- but also the overall impact on the US economy which is a bigger picture.

That's exactly right and that's one of the loopholes that we want to close.

They only have two currently talk about the direct costs but we want them to show -- in direct costs how many jobs will be lost.

Do the cost.

Out -- that did the benefits outweigh the cost and that's the most important thing that we want to see come out of this.

We -- looking for more transparency more accountability from our government all of our governments but particularly the federal level.

And this bill would do this doesn't have a catchy title.

It doesn't grab headlines but a lot of work gets done behind the scenes and quietly.

That can help make our government better so it's the unfunded mandates information transparency.

Act.

You admit that that again doesn't have a fair if it doesn't have a great -- not try to work accountability and there we couldn't quite do it but.

That's what it does is my current government more accountable and very quickly -- -- off at a time but on the issue of accountability are their -- built in tennis are there penalties if that they if you don't comply -- for the first time we have judicial review.

This way and and the agencies have to do this for all the rules they can't circumvent it but.

Putting an emergency rules and letting them same effect so yes they -- RT.

For the first time in this -- aren't in this bill congressman thank you very much we'll keep an -- and then -- very important.

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