Bob Dole: “it is a fact that we are overregulated and the American consumer pays the price for it. The costs of this overregulation…”

“it is a fact that we are overregulated and the American consumer pays the price for it. The costs of this overregulation are really a hidden tax on the consumer that does not appear on paystubs but that is just as real and just as relentless as more-visible taxes. This substitute measure contains numerous proposals from both sides of the aisle, each of which aims to reduce the regulatory burden on American consumers, without endangering their health or their safety. The measure is a proposed substitute to S. 4, which is incongruously called the ``Competitiveness Act.'' Simply declaring something ``procompetitive'' does not make it so. Mr. President, in the international marketplace, governments do not compete, people and companies do. And governments do not make people and companies more competitive in the global marketplace by further intervention into the private sector. Governments can make individuals and industries more competitive by reversing the crushing burden of regulation, and by eliminating the ``hidden tax'' on consumers that overregulation creates. This substitute measure contains many proposals to begin that reversal. This is just a start. Preliminary CBO estimates show that the bill would save approximately $1 billion over 5 years. Clearly, this is just the tip of the iceberg.”