A Hidden Tax Larger Than Canada's Entire Economy

Statement

When Iowans talk to me about government being the problem and not the solution, they often point to the ever increasing federal machine that strangles our economy and job creation in Iowa and across the country.

This machine is better known as federal regulations. And this bloated machine is hidden tax that picks the pockets of hardworking American taxpayers to the tune of nearly $2 trillion each year. That is larger than Canada's entire economy!

This regulatory machine also kills jobs and ties up the resources of our job creators. Unnecessary rules and regulations cost our job creators time, money, and lost opportunities as they struggle to comply. Last year 72% of America's small businesses reported that regulations were the number one factor hurting their "operating environment".

2015 was a record year when it came to federal regulations. The 3,378 final rules and regulations in 2015 pushed the Code of Federal Regulations (CFR), which lists all current regulations, to 82,036 pages. This is over 600 pages longer than the previous record set by the length of the CFR in 2010. Each new page represents the federal government's reach into almost every aspect of our lives, and additional red tape that strangles our already struggling economy.

We cannot stand by while rules and regulations implemented by Washington bureaucrats threaten Main Street, good paying jobs, and the bottom line of hardworking American families. In Congress I have been fighting against this overreach, by working towards commonsense solutions that control and cut the regulatory burden.

Last year, I wrote legislative language that would bring some much needed transparency to the regulatory rule making process. It simply requires agencies to cite the sources they use, like data and studies, to make a new rule. I'm sure many Iowans would be shocked agencies aren't already required to do this. My amendment was passed by the House and was included in the Regulations from the Executive in Need of Scrutiny (REINS) Act. This bill would prohibit an agency from imposing a new regulation that would impact our economy by $100 million unless Congress approves it.

I look forward to next steps, as it now awaits consideration by the U.S. Senate.

The REINS Act and my amendment were just a start. I came to Congress to keep an eye on our federal government and promote transparency and accountability for hardworking taxpayers. Because the regulatory machine shows no signs of slowing down, I will continue fighting to pull back the heavy hand of government from your daily life.

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