financialservices.house.gov

Cmte Financial Services (R)
Contact: Staff


'Endless Regulations'

Washington, Sep 29 -

President Obama recently voiced concerns about the negative impact of “endless regulations” in foreign countries.  Millions of unemployed and underemployed Americans must be wondering why he isn’t as concerned about the economic harm caused by the “endless regulations” of his own administration here in the U.S.A.

While the American people are repeatedly told that nothing is getting done in Washington, struggling small business owners and entrepreneurs across our nation can only wish that were true.  They know better than anyone that the Washington bureaucracy is busier than ever churning out red tape.

Washington set a new record in 2013 by issuing final rules consuming 26,417 pages in the Federal Register.  Another 3,305 regulations are moving through the pipeline at the historic rate of roughly one new regulation every two hours.

Job number one of the Financial Services Committee is job creation and economic growth.  That’s why the committee has passed dozens of bipartisan, pro-jobs bills during the 113^th Congress.  Yet Harry Reid has killed them, refusing to even bring them up for votes.  Instead, he adds them to the pile of jobs bills collecting dust in the do-nothing Democrat-controlled Senate.

If President Obama truly cares about the harm caused by “endless regulations,” he should pick up the phone today, call Senator Reid and urge him to take action on these bipartisan jobs bills.