Created: Thu, 27 Feb 2014 10:39:00 MST
Updated: Thu, 27 Feb 2014 11:03:35 MST
GRAND JUNCTION, Colo. - A bill that aims to loosen regulations on small businesses passed in the House of Representatives on Thursday.
Congressman Scott Tipton (R-CO) is pushing for the legislation. Prior to passage of the All Economic Regulations are Transparent Act (H.R. 2804), Tipton amended the bill to clarify that each federal agency must publish a list of existing regulations for review annually.
Tipton says his constituents consistently tell him that over regulation is among the top challenges they face in creating jobs and growing their business.
"We've incentivized literally a system to write more regulations. These drive up the cost of the products we buy in the grocery store, the local hardware store, and we've got to make sure there is real accountability going on. A cost-benefit analysis, certainly want rules and regulations that are going to protect public health, safety and the food that we eat, but it needs to be approached in a commonsense fashion," Tipton told NewsChannel 5.
Tipton says the legislation helps restore some commonsense to the regulatory process. He believes it will do so by increasing transparency and ensuring a more thorough review of proposed and existing rules.