In-Depth: Sponsoring Rep. Michael McCaul (R-TX) introduced this bill, which he said was modeled on similar policies implemented in the United Kingdom and Canada, to neutralize the economic impact of new regulations:
“Over the last decade, close to 40,000 new regulations have been issued by the federal government but very few are ever repealed. Small businesses often bear the brunt of the regulatory onslaught, making it harder for our economy to recover and for businesses to hire. The U.S. can learn from our friends in the U.K. and Canada which have adopted success policies to reduce the economic effect of regulations. The One In, One Out Act will force agencies like the EPA to make tough choices when considering new regulatory burdens on businesses.”
This legislation has the support of eight cosponsors in the House, all of whom are Republicans.
Of Note: According to the George Washington Regulatory Studies Center, the number of “major rules” published in a year exceeded 100 for the first time in 2008, the final year of George W. Bush’s administration (although 2000, Clinton’s final year, and Obama’s second in 2010 came close).