Chairman Enzi: Help the economy by stopping onslaught of regulations

Washington, D.C. –  It is often said that there are two constants in life – death and taxes, but according to U.S. Senator Mike Enzi, R-Wyo., it appears there is one more issue that Americans can’t seem to escape from– regulations.

Speaking on the Senate floor today, Enzi said this inability to escape federal regulations is making it harder for Americans by slowing down the economy and making it more difficult to find a good job.  

“This is a relationship that is clear to the people that experience the difficulties of complying with more and more regulations that make it harder to succeed,” Enzi said. “I hope that what is clear to business owners, employees, and communities across the country can be understood here in Washington.”

Enzi introduced legislation today to help fight back against executive agencies that overreach using laws passed by Congress to grant themselves more authority than Congress intended.                                      

The Regulatory Authority Clarification Act would allow Congress to provide additional clarification on what regulatory authority has or hasn’t been granted.

Although Congress can already rein in agencies by passing new laws or using the Congressional Review Act, these methods require the president’s approval, effectively creating a two-thirds majority requirement to override a veto. Under the Regulatory Authority Clarification Act, Congress could use concurrent resolutions that are not subject to presidential approval to make it clear what authority Congress has or has not granted agencies in law and to overrule improper interpretations by agencies.

Along with the billions of dollars that recent regulations from the EPA and other agencies are predicted to cost the economy, Enzi noted that the regulations slowing the economy also grow the debt by decreasing revenue for business and individuals, meaning less tax revenues. With $18 trillion in debt, Enzi said the nation cannot afford to accept the notion that we’re entering into what some are calling a “new normal” of anemic economic growth.

“We need to help our economy reach its potential, which will help each and every American,” Enzi said. “This cannot be done if the number and cost of significant federal regulations continues to rise.”

Click here to read the full speech as prepared for delivery or here to watch it.

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