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Bill Kovacs, the U.S. Chamber’s Senior Vice President for Environment, Technology and Regulatory Affairs shows how many federal regulations are issued and which regulations are responsible for most costs and benefits.
Here are some key points:
- Each year, about 4,000 new rules are added by federal regulators.
- Since 2000, EPA has issued 17 rules that have an annual cost over $1 billion.
- For the regulatory system to work, regulators must get the facts, the economics, and the science correct.
- Regulators must examine the impacts of regulations on jobs.
- Citizens must be allowed to participate in the regulatory process. Too many citizens don't have access to the information and data needed to make sound policy decisions.
As Kovacs sums it up, "With commonsense reforms we can have a regulatory process that’s more transparent, accountable, fair, and works to bring the greatest benefit to all Americans."
For more on federal regulations, read "These 9 Charts Put Federal Regulations in a Different Light."