Oversight Report: Job Creators Tell Congress Red Tape Prevents Hiring
WASHINGTON—House Oversight and Government Reform Committee Chairman today released a new report documenting the strangling effect of red tape on job creation. In this report, job creators across the country describe problems with these regulations that prevent them from adding new jobs into our economy. Following two previous reports on regulation in the 112th Congress, the Committee renewed its efforts to examine burdensome and job-stifling regulations. This report documents what the Committee heard—namely that while some regulatory improvements have taken place, many other examples of job killing red tape have not been addressed. The report also notes what job creation experts say are some of the newest regulatory threats to job creation. Today at 9:30 AM the Oversight Committee will examine the findings in the report.
“Last week’s unemployment numbers remained stuck at unacceptably high levels. This reflects the poor climate for businesses that currently exists under the Obama Administration,” said Oversight Chairman Issa. “Our government can create the environment for the private sector to grow jobs. But under this administration, it won’t. Small businesses, and not the government, are the primary driver of job creation in this country. This report explains why job creators say they are struggling to put Americans back to work under an ever increasing regulatory burden.”
Key findings from the report include:
• The published regulatory burden for 2012 could exceed $105 billion, according to the American Action Forum, headed by a former director of the Congressional Budget Office.
• In the past decade, the number of economically significant rules in the pipeline—those that could cost $100 million or more annually—has increased by more than 137 percent.
Read the report: here