The U.S. regulatory system is broken. This was highlighted recently by the U.S. Chamber of Commerce President and CEO Thomas J. Donohue, in prepared remarks to the Joint Committee meeting of the Environment, Technology, & Regulatory Affairs Division of the Chamber, as he urgent need to fix it.
"Our regulatory system is increasingly opaque and driven by political agendas," Donohue said. "It lacks basic accountability. It often employs flawed data and questionable science. It ignores congressional intent and too often prevents citizens from weighing in on proposed rules in any meaningful way."
These excessively costly regulations, which the Congressional Budget Office reports as now exceeding $2 trillion a year, with approximately $200 billion more being added each year, have impacts on jobs, on small businesses, and on the ability to compete around the world, according to Donohue.
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