Contributed by Mike Anderson, Office of US Senator Dan Sullivan
On January 30th, U.S. Senator Dan Sullivan (R-AK) applauded President Donald Trump for mandating federal agencies to cut two regulations for each new regulation promulgated. President Trump’s order reflects the RED (Regulations Endanger Democracy) Tape Act, which Senator Sullivan introduced in August of 2015, and which he reintroduced at the beginning of the 115th Congress.
“After eight years of stagnant economic growth, reigniting the American economy should be job number one for the Congress and the new administration,” said Senator Sullivan.
“Many economists and experts across the country point to regulations—the size and scope of which continue to increase substantially year after year—as a major factor in our sluggish economy. Regulatory compliance and economic costs are estimated to top $1.8 trillion each year. If it were a country, U.S. regulations would rank as the world’s 10th largest economy, behind Russia and ahead of India.
“Since 2015, I have been advocating on the Senate floor for the RED Tape Act, which would cap federal regulations, and give our job creators some relief to grow and hire again. President Trump’s executive order is a bold step toward fixing the problem of over-regulation. To strengthen the order, I hope that my colleagues in Congress will join me in an open and transparent debate about our regulatory and permitting regime, and consider passing the RED Tape Act.”