Washington, D.C. – Senator Tom Cotton (R-Arkansas) released the following statement on guidance issued by the Office of Management and Budget to strengthen oversight of new federal regulations:
“The Constitution states that only Congress can make laws, but that doesn’t always stop overzealous bureaucrats from making up regulations that effectively have the force of law, but without oversight from the legislative branch. Congress created the Congressional Review Act in order to rein in regulations created by federal agencies. I commend the administration for drafting new guidelines that will ensure greater compliance with the CRA and enhance Congress’s oversight of federal regulations.”
Background: Today, OMB issued guidance to the heads of federal departments and agencies to ensure consistent compliance with the Congressional Review Act. You can read the full memorandum here. Senator Cotton has fought for years to strengthen congressional oversight of federal regulations and the rule-making process.
Last session, Congress used the Congressional Review Act to repeal more than a dozen heavy-handed regulations imposed during the eleventh hour of the Obama presidency. Repealing these regulations saved Americans billions in compliance costs.
Earlier this year, Senator Cotton questioned Federal Reserve Chairman Jerome Powell about bank regulators’ potential abuse of regulatory “guidance” to impose burdensome tests on medium-sized and community banks.
Original article source: http://www.cotton.senate.gov?p=press_release&id=1105 | Article may or may not reflect the views of KLEK 102.5 FM or The Voice of Arkansas Minority Advocacy Council