WASHINGTON, DC - Today, Congressman Michael McCaul (R-TX) a introduced the One In, One Out Act . This legislation, which is based on existing policies in the U.K. and Canada, would require government agencies to repeal or revise one or more existing regulation before any new regulation can be implemented. The net effect of this legislation would be to neutralize the economic impact of any new regulations by ensuring that the cost for the new regulation cannot exceed the cost for the regulation it is replacing.

Upon introduction of the legislation Congressman McCaul made the following statement.

McCaul: "Over the last decade, close to 40,000 new regulations have been issued by the federal government but very few are ever repealed. Small businesses often bear the brunt of the regulatory onslaught, making it harder for our economy to recover and for businesses to hire. The U.S. can learn from our friends in the U.K. and Canada which have adopted successful policies to reduce the economic effect of regulations. The One In, One Out Act will force agencies like the EPA to make tough choices when considering new regulatory burdens on businesses."