Washington – Business Roundtable today commended the introduction of the Regulatory Accountability Act of 2013 by Sens. Mark Pryor (D-AR), Rob Portman (R-OH), Bill Nelson (D-FL), Susan Collins (R-ME), Joe Manchin (D-WV), Kelly Ayotte (R-NH), Angus King (I-ME), Mike Johanns (R-NE) and John Cornyn (R-TX), and the introduction of companion legislation in the House of Representatives by Reps. Bob Goodlatte (R-VA), Colin Peterson (D-MN), Spencer Bachus (R-AL), William Owens (D-NY), Lamar Smith (R-TX), Kurt Schrader (D-OR) and Howard Coble (R-NC).

“The BRT applauds the bipartisan group of Senators and Representatives who have taken the lead on smart regulation legislation. Done well, regulations can be integral to protecting the economy and the American workforce, as well as protect against fraud, waste and abuse,” said Andrew Liveris, Chairman and CEO of The Dow Chemical Company, and Chair of Business Roundtable’s Select Committee on Smart Regulation. “U.S. businesses, both small and large, are increasingly threatened by the accumulation of regulations over the last several decades. This legislation is critical to streamlining and simplifying unnecessarily complex, redundant and sometimes contradictory regulations that can stall the engine of our economy. It is a vital step; worthy of bipartisan support from both houses of Congress.”

The Regulatory Accountability Act of 2013 embodies many of the recommendations offered in Business Roundtable’s report, Achieving Smarter Regulation.

Liveris added that the Regulatory Accountability Act of 2013 will streamline the regulatory system, engage regulated parties earlier in the process and take better account of the cost of regulations issued by federal agencies. The Roundtable will work with the House and Senate to see that this important legislation becomes law.