Thune, Lankford Introduce Regulatory Reform Bill

Statement

U.S. Sens. John Thune (R-S.D.) and James Lankford (R-Okla.) today introduced the Regulatory Transparency Act, legislation that would hold the Biden administration accountable by requiring federal agencies to conduct a more transparent and objective analysis of the impacts proposed regulations have on the economy. The bill would also require agencies to justify the regulation and consider less burdensome ways of meeting the measure's goal.

"All too often, federal agencies issue overly burdensome regulations without adequately assessing the impact on consumers and small businesses," said Thune. "Unfortunately, this lack of transparency has become commonplace in the Biden administration. My legislation would hold government agencies accountable by enforcing rules that require them to analyze the economic impacts of onerous regulations before imposing them on the economy."

"There are thousands of federal regulations that govern every business in the US -- which are eventually costs passed on to customers," said Lankford. "The government should think through the real cost of regulations to the American people. The Regulatory Transparency Act will require federal agencies to thoroughly analyze new regulatory requirements to ensure they do not burden the American people."

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