Democrats’ Red Tape Factory Crushing Jobs Across America
A new report out highlights the cost of the Democrats’ regulatory red tape factory that’s imposing burdens on small businesses and crushing job creation across America:
“Many House and Senate conservatives are reviving their battle against federal regulations, claiming that the president hasn't stopped issuing job-killing rules during the debt ceiling fight....At Tuesday's GOP Senate caucus lunch, the lawmakers said that they will renew their efforts, supported by business groups like the U.S. Chamber of Commerce. In a memo Barasso handed out to the lawmakers, he claimed that the administration in July only has put in $9.5 billion in new regulatory costs by proposing 229 new rules and finalizing 379 rules. Among those he cited were EPA, healthcare reform, and financial regulatory reform rules.”
“Compliance costs harm small businesses—the jobs engine of the economy—the most. Businesses with fewer than 20 employees incur regulatory costs 42% higher than larger businesses of up to 500 employees. The average regulatory cost for each employee of a small business exceeds $10,000 per year. And the problem is getting worse, as we are seeing an unprecedented increase in regulations.”
Americans understand that all the regulations coming down the pike and the uncertainty that they create are bad for jobs, as a recent Resurgent Republic survey affirmed: “Voters clearly see too many federal government regulations as more of a threat than too few. By a margin of 55 to 36 percent, voters are more concerned that the federal government has too many regulations that will hurt the economy, rather than too few regulations to hold private businesses accountable.”
With unemployment at 9.2 percent, and millions of Americans asking “where are the jobs?” Washington needs to rein in its red tape factory and help the private sector create jobs.
House Republicans’ Plan for America’s Job Creators is focused on doing just that by empowering small business owners and working to eliminate excessive regulations. The GOP plan will stop unelected bureaucrats from dropping loads of job-crushing red tape on small businesses by requiring Congressional approval for any rule that would have major economic impact. Read more about it here.