Movement to decrease regulations sweeping Washington

(SBG) -- A new movement in Washington that focuses on reigning in regulations is picking up speed, as a handful of lawmakers have introduced a bill addressing regulatory reform.

Those behind the legislation said there are simply too many rules and they're becoming a major burden to individuals and businesses.

"We have a million rules that are in effect on the American people today. It's time we slow this process down," said Sen. Mike Rounds (R-SD), one of the bill's sponsors.

Currently once a law passes, the agency involved takes over, removing lawmakers from the process altogether.

Sen. Rounds is hoping to possibly create a new committee to give lawmakers a voice in approving any new rules.

"What I believe we should actually do is we should have the opportunity to review those rules and people that are actually elected to be able to say yes or no - these rules are good or bad," Rounds said Monday.

According to the Competitive Enterprise Institute, new regulations cost U.S. businesses $1.88 trillion per year. 

Still there are plenty of people in Washington who believe regulation is simply another form of protection.  One agency, the Food and Drug Administration (FDA) said its regulations are good for people's health and good for business.

According to FDA officials, "the best way to both reduce the risk of illness and maintain strong public confidence is to have in place credible and effective systems for preventing the contamination incidents and outbreaks that jeopardize both goals."

For those behind the new legislation, it's not about stopping the process of new rules and regulations, but of slowing them down significantly.