Rounds Introduces RESTORE To Permanently Address Regulatory Reform

Statement

U.S. Senator Mike Rounds (R-S.D.) today introduced a resolution to permanently address overregulation in America. The bipartisan Regulation Sensibility Through Oversight Restoration (RESTORE) Resolution would establish a Joint Select Committee to conduct a comprehensive review of rules enacted by federal agencies and analyze the feasibility and options for creating a rules review process in congress. The committee would also hold hearings on the effects of these rules and recommend ways to reduce the regulatory burden on the American people.

"The cost of federal overregulation affects every single American," said Rounds. "It is a hidden tax that for too long, has been dictated by unelected, unaccountable bureaucrats in Washington rather than elected representatives who our founders intended to be the voice of the people. The regulators have essentially become a fourth branch of government and de-facto legislative body. It's regulation without representation, and it's wrong.

"The cost of federal regulations last year was nearly $1.9 trillion, far more than Americans paid in individual federal income taxes. This compliance cost is crushing the can-do American spirit that founded our nation, settled the West, won two world wars and put a man on the moon. And it's killing the American dream. RESTORE seeks to reinstate the people's role in the rulemaking process and provides a path to eliminate the bad ones. It offers a permanent solution to overregulation in America and restores the representative democracy our founders envisioned."

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