$1.75 trillion annually--America's job creators are buried under the regulatory burden of about $1.75 trillion annually. The cost of the regulatory burden from new regulations just this year is $67.4 billion, which is larger than the entire State budget of Illinois, my home State. Studies and polls have shown us time and again that the regulations are a hidden form of taxation; and just as our Tax Code is in need of reform, so is our regulatory system. That's why I'm proud to support the REINS Act. This commonsense bill will require that Congress approve every new major regulation proposed by the executive branch in order to ensure that Congress, not unelected bureaucrats, retain control and accountability for the impact of government on the American people. Unless Congress acts decisively, this unchecked regulatory state will only grow bigger and make things more complicated. Let's pass the REINS Act, and let's give our job creators the certainty they need to grow, expand, and put Americans back to work. ____________________
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