On the recordDecember 1, 2011
The Obama administration is currently choking the lifeblood out of our Nation's middle class, small businesses, and entrepreneurs through excessive regulation. According to the Small Business Administration, regulations cost the American economy $1.75 trillion annually. {time} 1550 The Obama administration has issued 200 such regulations that are expected to cost our economy at least $100 million each, and seven of these regulations have a pricetag of over $1 billion. The President has long touted the job creation of his so-called stimulus. But every $1 million increase in the Federal regulatory budget costs 420 private sector jobs for hardworking Americans. This is why I am urging passage of House Resolution 527, the Regulatory Flexibility Improvements Act of 2011. This legislation will give real teeth to the Regulatory Flexibility Act of 1980, which mandated that Federal agencies first assess the economic impact of their regulations on small businesses before going forward with them. It is time to put small businesses first.
