The Regulatory Accountability Act seeks to update the antiquated, 70-year-old federal rulemaking process.
Building momentum for real regulatory reform in 2017, the U.S. Chamber of Commerce is joining the Missouri Chamber of Commerce and Industry and the Greater North Dakota Chamber to urge support for the Regulatory Accountability Act (RAA).
The RAA is forward-looking legislation that injects transparency and public participation into the federal rulemaking and regulatory process for major regulations going forward.
Our 21st century economy can’t afford to be held back by a regulatory process from 1946. If a company hadn’t updated their operating model since 1946, they’d be out of business.
But government regulation continues to strangle thousands of companies with red tape. The RAA fixes the bloated and outdated system by reforming how bureaucrats regulate business. By passing it, Congress can save hard working Americans billions, stimulate economic growth, and hold Washington D.C. accountable.
The House of Representatives passed the Regulatory Accountability Act in January, and now it’s time for the Senate to act. 70 years of dysfunction is enough.