Pete Sessions Introduces Resolution to End Job-Destroying Rules and Regulations
by Pete Sessions on February 8, 2011 at 3:22 PM
Today I introduced a resolution (H.Res. 72) calling on ten House committees to review existing, pending, and proposed regulations and orders from federal government agencies, focusing on their impact on our nation’s economy and ability to create jobs.
House Republicans have repeatedly called for more transparency and accountability in our government regulation process. This legislation will instill a proper review process to put an end to regulations that destroy jobs and stifle our nation’s economy. With unemployment at record levels, it is imperative that Congress focus on reducing Washington bureaucrats’ rules and regulations that impede job creation, discourage innovation, harm global competitiveness, and inject uncertainty into our economy.
Last year, the Obama Administration unleashed an unprecedented 43 new major regulations including 15 from the Frank-Dodd Financial Regulatory bill, 5 from ObamaCare, and 10 from the Environmental Protection Agency. Together, these new regulations will cost taxpayers more than $26.5 billion annually. In 2011, the regulatory burden on the American people is expected to increase even more with the enactment of the new health care law, financial and energy regulations, and other impending rules.
Government regulations regularly impose costly burdens on American businesses due to annual compliance costs, and new rules can require new equipment purchases, conversions of industrial procedures, and data collection and reporting revisions. For example, a new regulation in the Frank-Dodd bill requires the Securities Exchange Commission to make modifications to computer systems and surveillance mechanisms for information gathering and managing that will cost over $1 billion.
Under this legislation, the following House committees are tasked with reviewing government regulations within their jurisdiction and reporting on regulatory impediments to job creation and economic growth: the Committee on Agriculture; the Committee on Education and the Workforce; the Committee on Energy and Commerce; the Committee on Financial Services; the Committee on the Judiciary; the Committee on Natural Resources; the Committee on Oversight and Government Reform; the Committee on Small Business; the Committee on Ways and Means; and, the Committee on Transportation and Infrastructure.
It’s time for Congress to reign in big government and shine light on our federal regulatory process. I look forward to the House considering my legislation for removing unnecessary regulatory burdens on businesses to stimulate our economy and get the American people back to work.