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."
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