57.4: Regulatory Reform
Regulatory Reform: The Key to Economic Growth. Other Information:
The proper purpose of regulation is to set forth clear rules of the road for the citizens, so that business owners and workers
can understand in advance what they need to do, or not do, to augment the possibilities for success within the confines of
the law. Regulations must be drafted and implemented to balance legitimate public safety or consumer protection goals and
job creation. Constructive regulation should be a helpful guide, not a punitive threat. Worst of all, over-regulation is a
stealth tax on everyone as the costs of compliance with the whims of federal agencies are passed along to the consumers at
the cost of $1.75 trillion a year. Many regulations are necessary, like those which ensure the safety of food and medicine,
especially from overseas. But no peril justifies the regulatory impact of Obamacare on the practice of medicine, the Dodd-Frank
Act on financial services, or the EPA’s and OSHA’s overreaching regulation agenda. A Republican Congress and President will
repeal the first and second, and rein in the third. We support a sunset requirement to force reconsideration of out-of-date
regulations, and we endorse pending legislation to require congressional approval for all new major and costly regulations.
The bottom line on regulations is jobs. In listening to America, one constant we have heard is the job-crippling effect of
even well-intentioned regulation. That makes it all the more important for federal agencies to be judicious about the impositions
they create on businesses, especially small businesses. We call for a moratorium on the development of any new major and costly
regulations until a Republican Administration reviews existing rules to ensure that they have a sound basis in science and
will be cost-effective.
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