Rubio Campaign Press Release - Marco Rubio's Plan to Restrain Out-of-Control Regulation

Federal regulations are out of control. With hundreds of billions of dollars in new costs imposed under the Obama administration, we have a system of regulations and rules that strangles job creation, holds down take-home pay, and puts unelected bureaucrats in charge of huge sectors of our economy.

In 2014, Marco proposed a National Regulatory Budget, which would set a cap on the costs federal regulations could impose on the economy. For every dollar in costs regulators want to impose, they have to find a dollar in existing costs that they'll repeal.

Marco's proposal would also impose a cap on each agency, so that Congress would be able to limit new regulation unless agencies, like the EPA, were willing to provide dollar-for-dollar relief.

The budget would limit the costs regulators can impose on the economy, boost wages and job creation, and limit unelected regulators' power to interfere in the economy.

Marco's proposal has received praise from conservatives and business organizations.

The Competitive Enterprise Institute:

A regulatory budget could help incentivize other reforms like cost analysis and sunsets. It would also allow Congress to allocate regulatory cost authority among agencies and to distinguish among categories like economic, health and safety, and environmental regulations. . . . Congress should pass the National Regulatory Budget Act.

The National Association of Manufacturers:

The National Regulatory Budget Act of 2014 is an innovative reform measure that would provide an incentive for federal agencies to reform our regulatory framework and eliminate unnecessary burdens that impede economic growth.

The National Small Business Association:

The National Regulatory Budget would impose strict, enforceable constraints on the ability of the federal government to impose regulatory costs on the public. . . . Reining in excessive regulations will provide a boost to, and certainty for entrepreneurs as they work to compete, expand and create jobs.

Avik Roy, Forbes:

Conservatives are really good at complaining about what they're against. Sen. Marco Rubio (R., Fla.) is taking a different tack: he's laying out a thoughtful reform agenda that explains what Republicans could be for. . . . Rubio's [National Regulatory Budget] tackles the largest, and least-covered, drag on the U.S. economy. . . . It's high time we did something about this problem, and Sen. Rubio is to be saluted for bringing it to the public's attention.

A National Regulatory Budget — a reform that other countries have successfully used to restrain regulatory overreach — is exactly the kind of reform Marco will put in place to help the American economy compete in a global economy, and make this century a New American Century.