Review and Reduction of Unnecessary Regulations: Lower Costs for Economy
This Act aims to establish a special commission to review existing regulations, identifying those that are unnecessary or overly costly. The goal is to reduce regulatory burdens for citizens and businesses, potentially leading to lower prices and increased innovation. New regulations will need to be offset by the repeal of old ones to prevent an increase in overall regulatory costs.
Key points
Establishment of a Retrospective Regulatory Review Commission to identify and recommend the repeal of regulations generating unnecessary costs.
Introduction of a "cut-go" procedure: agencies introducing new regulations must simultaneously repeal old ones to offset costs.
Requirement for agencies to include a plan for future review with every new regulation to ensure its ongoing relevance and effectiveness.
Opportunity for citizens and government officials to submit regulations for review by the Commission.
Status:
Expired
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