The federal government has gone too far on many nonessential regulations that are harming small businesses. Employers are rightly concerned about the costs of these regulations – so they stop hiring, stop spending and start saving for a bill from the federal government.
However, it is Washington’s responsibility to remove these barriers and make sure the government carefully considers regulatory consequences on our most robust job creators before finalizing them. That’s why our Committee brought the Regulatory Flexibility Improvements Act of 2011 to the floor for a vote last week, and why the House is voting on the REINS Act today.
The Regulations from the Executive In Need of Scrutiny (REINS) Act would require Congress to affirmatively approve every new major regulation proposed by the executive branch before it can be enforced. The Regulatory Flexibility Improvements Act of 2011, which passed the House with bipartisan support, would force federal agencies to fully examine the impact of their proposed regulations on small businesses and consider less burdensome alternatives if those impacts are significant. Both of these bills are part of the House Republicans Plan For America’s Job Creators to help rein in the Obama administration’s regulatory assault on the private sector.
Part of any solution to get our economy going should include steps to free up our small businesses by peeling back unnecessarily burdensome regulations, ending the continual threats of tax hikes, and addressing the cloud of federal debt that hangs over our economy.
But we can’t do this alone. I hope the Senate will put politics aside and take up our House’s legislation that aims to rein in the regulatory process, so that we can give small businesses the certainty and relief they need to help our economy grow.