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On Sept. 14, ABC, along with a coalition of nearly 400 business groups sent a letter to U.S. Senate Committee on Homeland Security and Governmental Affairs Chairman Sen. Ron Johnson (R-Wis.) and Ranking Member Sen. Tom Carper (D-Del.) urging them to support the Regulatory Accountability Act of 2015 (S. 2006).

The bill was introduced in the U.S. Senate Aug. 6 by Sen. Rob Portman (R-Ohio), Sen. Susan Collins (R-Maine), Sen. Angus King (I-Maine), Sen. Ron Johnson (R-Wis.), Sen. Kelly Ayote (R-N.H.), Sen. John Cornyn (R-Texas), and Sen. David Perdue (R-Ga.).

In the letter, ABC expressed support for this important legislation, which ”would improve the process by which federal agencies promulgate regulations to improve accountability and the integrity of the rulemaking process. This bill would not prevent federal agencies from issuing regulations or accomplishing needed regulatory objectives. It would, however, make the regulatory process more transparent, agencies more accountable, and regulations more carefully designed.”

The federal government’s rulemakings carried an estimated regulatory cost of $181.5 billion and required approximately 10 billion hours of paperwork in 2014 alone. Many of these regulations have a major impact on the construction industry and may limit businesses’ ability to hire and expand, or price construction projects out of the market completely. Additionally, regulatory compliance costs disproportionately affect small businesses, which pay 36 percent more than large businesses to comply with regulations on average.

ABC continues to support reforms to the regulatory system that will increase accountability from regulators and that guarantees the voices of all stakeholders are heard throughout the rulemaking process.