Amid Historic Inflation, Sen. Marshall Introduces Bill Creating Transparency for Economic Impacts of Federal Regulations

Press Release

U.S. Senators Roger Marshall, M.D. (KS) and Ted Cruz (TX)have introduced the National Regulatory Budget Act, legislation that would create transparency for the economic impacts of proposed and existing federal regulations. Specifically, this legislation establishes a new independent agency that would be required to assess and report on the economic costs of federal regulations, as well as create a regulatory budget process where Congress would establish caps for each federal agency and require federal agencies' compliance with the caps.

"Out of control spending and crippling regulations enacted by President Biden and his cabinet are responsible for the inflation we are seeing in Kansas and across the nation," said Senator Marshall. "Right now, these federal bureaucrats and political appointees answer to no one for the economic damage caused by their radical policies. We need watchdogs who understand business and finance to provide much needed economic oversight to the federal rulemaking process, along with a Congress that will put a stop to the out-of-control spending that is also contributing to rising prices.

"For far too long, government spending has been wildly out of control. Our massive debt and skyrocketing inflation have only been exacerbated by the Biden Administration's disastrous regulations. It is imperative, now more than ever, that we mandate transparency from federal agencies and force them to answer for their irresponsible actions."

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