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USA: House majority leader announces significant roll back on corporate regulation to 'revive economy'

Author: Kevin McCarthy, on Wall Street Journal, Published on: 30 January 2017

“How the House Will Roll Back Washington’s Rule by Bureaucrat”, 24 January 2017

…Faced with a metastasizing bureaucracy, the House is undertaking structural and specific reform to offer the nation a shot at reviving the economy, restoring the Constitution, and improving government accountability…First, we began structural reform by passing the REINS Act, an acronym for Regulations From the Executive in Need of Scrutiny. If the bill becomes law, new regulations that cost $100 million or more will require congressional approval before they take effect. The House also passed the Regulatory Accountability Act, which would require agencies to choose the least-costly option available to accomplish their goals. That bill would also prohibit large rules from going into effect while they are being challenged in court…Second, the House…will begin repealing specific regulations using the Congressional Review Act, which allows a majority in the House and Senate to overturn any rules finalized in the past 60 legislative days… 

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