As the Senate begins debate on S. 4, the so-called Competitiveness Act, we must ask ourselves: Do we enhance American competitiveness by allowing ever greater Government intervention in the private sector? I do not think so. The better approach is to attempt to reduce the existing regulatory burdens which are anticonsumer, and which greatly inhibit American competitiveness. Senators Dole, Nickles, Cochran, Pressler, Thurmond, Durenberger, Coverdell, Hutchison, Helms, Craig, Coats, Kempthorne, Wallop, Mack, Murkowski, Gramm, Lott, Smith, Gorton, Warner, and I will be offering a substitute amendment to S. 4 which we believe is a real competitiveness bill. It is aimed at reversing the trend of anticompetitive regulations which take such an immense toll on our economy. It also makes an effort to reform the process which leads to the promulgation of such regulations. Over the past century, Federal regulations have collectively limited our economy's ability to approach its maximum potential for growth. As many as 85 percent of Americans agree that Government regulators are now out of control and that lowering the cost of regulation to the public should be a very top priority. The American consumer obviously know what is up. We consumers ultimately bear the costs of all these regulations.
Editor's note · Context
Debating the Competitiveness Act and the impact of government regulations on the economy.
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