Todd Young: “And how we can make life work for our regular American families, our American workers, and even our companies, because…”

“And how we can make life work for our regular American families, our American workers, and even our companies, because, after all, this is where most of my constituents are employed--sometimes large companies, sometimes small companies. With respect to regulations, we have tried a Whack-A-Mole approach going back a number of years here, where we do our best with respect to oversight. Sometimes we do better than others. And we try to prevent certain executive departments from actually implementing a given regulation, or we change the law so that the regulation can't move forward. That's hard to do. But I think we need to be thinking ambitiously here about changing the entire regulatory system. I introduced earlier this year a bill that was originally authored by Geoff Davis, a Republican from Kentucky, called the REINS Act. What the REINS Act does is it establishes a $100 million threshold. So every time, say, the EPA or OSHA puts forward a rule or regulation that is determined will have $100 million or more in economic impact on our multitrillion-dollar economy, that rule or regulation has to go before Congress for an up- or-down vote. Now, what effect would this have? Of course, this would slow down the regulatory process, which is good. Washington needs to deliberate before it acts, right? We can still regulate. There's a role for smart regulation, but we need to deliberate before we act.…”