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Regulatory reform with the Bush Administration

buildings19268963.jpgWhen it comes to regulating businesses in the United States you will find that there are over sixty separate agencies that is involved in the federal regulatory policy. The agencies that are involved in the policies range from the Environmental Protection agency to the Exchange Commission. No matter which agency is involved in the regulation of the business their main goal is to enforce all of the rules that are enacted by each commission. For example, the Environmental Agency would be in charge of setting any new regulations that will help protect the environment, but they are also responsible for ensuring that every business follows the regulatory policies that are put in place by the agency.

The biggest problem that many people are finding is that it costs a lot of money to enforce all of these policies and to reform the policies as needed. It has been estimated that the cost to regulate many of the American business is an estimated $380 billion. With how high these regulatory costs are it has been talked about that there is too much regulation out there, what many people think needs to be done is decrease the amount of regulation in specific areas. The reason for this is that there is an over abundance of regulation in some areas, while in other areas there could be more regulation. Trying to find that middle ground can be hard because every agency thinks that their regulation is important and needs to be monitored closely.

The Bush Administration was the first Administration to recognize the fact that something needed to be done to decrease the cost of regulation. They were able to recognize that excessive regulation was a huge problem, so they began to look closely at the different agencies to see what could be done. One thing that they did was decide to have each agency take a closer look at any new regulations that are being presented to see if they are something that is really needed. Something else that the Bush Administration did was to implement new standards for the analysis of any new rules that have been passed. Both of these things were passed in an attempt to help control the regulatory costs.

Based on the measurements that were done after Bush's Administration took this type of action it can be said that they did a great job at limiting the number of new regulatory policies that were costly to run. It has also been shown through these measurements that the Bush Administration had a better record with lowering the high costs of regulatory reform then any of the administrations before them, including the first President Bush's Administration. The one problem that this Administration did face was having a hard time in reducing or even eliminating the costs that were related to the existing regulatory policies. For example, the cost of the new regulatory rules with the Bush Administration was just under $1.5 billion during the first three years, with President Clinton the costs totaled $5.7 billion and under the first President Bush the costs totaled $8.5 billion during the first three years.

With the numbers that this example shows it is safe to say that the Bush Administration was successful in their regulatory reform of the way various agencies implemented the new regulations, plus how they went about enforcing those new regulations. There is still a problem of an overabundance when it comes to regulating businesses, but with hard work and awareness the federal agencies can decrease the money spent on regulatory reform each year.

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