Reining-in regulation

Today, Governor Hickenlooper cited the most pressing need for Colorado is the creation of "jobs!"

Wealth is only created in the private sector, so for jobs that actually contribute to the overall economic health of the state, legislators need to take action to allow the private sector to thrive.

Legislators pass laws, then the various agencies of government write the rules and regulations that often create mischief and mayhem for business. Why? Little to no accountability on the part of bureaucrats who are incentivized to levy fines to fund their department, as opposed to educating businesses to comply with the law.

Too often, regulators fine businesses for not following the "spirit" of the law - an arbitrary definition. Small businesses generally can't afford the legal expense of challenging an agency that fails to write the "letter" of the rules they seek to enforce.

What to do?

• Bring businesses into the regulatory process sooner.
• Open discussion between rule-making agencies and industry representatives to identify the hoped-for outcomes and the unintended consequences of regulations.
• Require a cost/benefit analysis prepared by government agency staff with industry input. If the benefits of a regulation don't outweigh the cost, DON'T DO IT.
• Review the cost/benefit analysis wth public input before it's final.

The likely result?

• Less regulation; less government intervention.

See more good ideas and contribute your own at www.solutionsforcolorado.com