I just hope we can bring this home and put it into practice.

I believe that all Members of Congress in both chambers and both parties can ascribe to this goal.

Regulators published $112 billion in net regulatory cost in 2013 alone.

The negative effects of over-regulation are felt in industries throughout my home State, and I'm sure throughout the states being represented here by the panel.

Now it is one thing for CitiCorp, JPMorgan, and so forth, to hire a backroom of lawyers and technicians to deal with all these regulations.

We need a better way to sift through regulations both proposed and existing; transparently identify their true costs.

I guess what you need is a plan B just in case.

the first one isn't even implemented yet, and now they are asking for more?

In many cases, this cost amounts to the difference between a small business hiring or not hiring additional employees.

I am struck by the fact that, while there is this consensus, we introduced a lot of ideas... But we never seem to get to the final piece where it is actually enacted and put into place.

America's regulatory system should be designed to achieve the greatest good at the least cost.