WASHINGTON, D.C. – Senator Steve Daines today introduced legislation to provide oversight in the federal regulatory structure by creating much needed transparency for the American people.
Daines’ bill, the Regulatory Impact Scale on the Economy Small Business Act of 2015 (RISE Act), would provide the federal government with a proper framework to effectively monitor regulatory activity. The bill brings essential accountability and transparency to the federal regulatory process, which currently lacks a codified, standardized means to measure economic impact.
“Too often the federal government keeps the public in the dark when issuing regulations that have the potential to create billions of dollars in adverse economic impact,” Daines stated. “We need more transparency and accountability in the regulatory process and that begins with creating measures to identify the cost of the regulations on the American people. Congress owes it to the American people to provide oversight to the vast federal regulatory structure.”
By instituting a standardized scale to categorize regulations by economic impact, the RISE Small Business Act would improve both Congress and the public’s ability to administer regulatory oversight by categorizing the economic impact of regulations. Under the bill, Congress would also establish standards of economic impact that will create consistency across the regulatory structure providing oversight efficiencies for Congress.
Daines’ bill is cosponsored by Senators Roy Blunt (R-MO) and Cory Gardner (R-CO).
In the Senate, Daines has authored multiple pieces of legislation that would foster transparency and accountability for Americans including S. 826 the Regulatory Examination Vital for Improving and Evaluating Working Solutions (REVIEWS) Act and S. 1487 the Regulatory Predictability of Business Growth Act. S. 826 implements a decennial review of all federal rules to ensure that the American people aren’t subjected to regulations that are outdated, unworkable or simply no longer make sense while S. 1487 requires agencies to subject certain interpretative rules to public notice and comment.
The full text of Daines’ bill is available here.
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