South Dakota Senator Mike Rounds made his first official speech from the floor of the Senate, Tuesday and he talked about his bill to deal with federal regulations…
Rounds says there are over one million federal regulations, which he says cost the country over two trillion dollars in lost productivity…
Rounds says his bill would create a committee to review regulations currently on the books…
Rounds says the Committee would also examine options for agencies to submit each regulation with a fifty million dollar impact or more to the appropriate committees of Congress for review – before the rule is enacted. And he says the Joint Select Committee could recommend ways to reduce the financial burden regulations place on the economy as well as sun setting outdated ones.