House-Passed Bill Attacks Burdensome Federal Regulations
By: Stephen Crews
Updated: July 26, 2012
The paperwork and regulatory burdens that are hampering
small business growth in America would be reduced by legislation passed today in the House of Representatives.
Among other provisions, the Red Tape Reduction and Small Business Job Creation
Act would:
Freeze
economically significant regulations that harm the economy until unemployment reaches 6% or below,
Require
independent
federal agencies, such as the National Labor Relations Board, to comply
with the same regulatory review requirements as other agencies and
require increased transparency with respect to unfunded mandates that
are imposed on state and local governments,
Create
a streamlined process for consideration of federal permits for construction projects,
Require
the
Securities and Exchange Commission (SEC) and Commodity Futures Trading
Commission (CFTC) to conduct more thorough cost-benefit analyses of
proposed regulations.
Roby, a member of the Education and the Workforce Committee, said
that many business owners in her district are feeling the negative effects of costly federal regulation.
"At
a time when small businesses across our country are struggling
to keep their doors open, it is critical that Congress remove
unnecessary burdens that only make it harder for businesses to succeed.
As I travel throughout the Second Congressional District, I hear the
same message over and over again: people are tired of
costly regulation and interference by the federal government. Business
owners want Washington to get out of the way," said Roby. "It is
difficult for businesses to grow and hire new workers when Washington is
creating an uncertain climate full of new regulations,
higher taxes, and unfunded mandates. This bill is an important step
towards cutting through the red tape and getting our nation's economy
back on track."
