Sen. Marco Rubio called Monday for the establishment of a “national regulatory budget” to keep in check costs associated with the accumulation of rules on the books at agencies across the federal government.
The Florida Republican, believed to be angling for a presidential run in 2016, laid out the plans during a wide-ranging economic address.
“That regulatory code needs a taste of its own medicine,” Rubio said in the speech, hosted by Google Inc. and the Jack Kemp Foundation. “It needs to be restrained and restricted.”
Under Rubio’s plan, an independent board would be created to set a national regulatory budget, which would aggregate the costs of all existing federal rules and put caps in place for each agency.
If the total exceeded levels set out in the budget, agencies would need to repeal or rework regulations.
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