Political Quotes

“Since 2008, approximately 3,300 regulations have been issued on an annual basis. I will say that again. Since 2008, approximately 3,300 regulations have been issued on an annual basis. The cost of compliance with those regulations is estimated to be somewhere around $981 million, and if you add up the costs of compliance of all regulations, it is approximately double that. According to various studies that are out there, since 2008, the costs of complying with Federal regulations has doubled. Mr. Chairman, this isn't about some huge megacorporation that is worth billions of dollars and is a multinational company. This impacts individuals. This impacts families. As a matter of fact, a study done by the Competitive Enterprise Institute estimates that approximately $15,000 per year is how much the average American family spends just to comply with Federal regulations. Major regulations are regulations that are estimated to cost in excess of $100 million. Under our amendment, what we do is simply require that, every 5 years, the Federal agency that has promulgated-- that has finalized--a regulation go back and check how much it is actually costing to comply with the regulation. Here is why it is important, Mr. Chairman.…”