Mr. Speaker, regulations cost the American people $1.75 trillion annually. And just last year, the Obama administration unleashed 46 new regulations that will place an additional $26.5 billion drain on the American economy. Of those 46 new regulations, 10 came from the EPA, including job-killing regulations of carbon emissions and increased CAFE standards. The cost of these new EPA regulations alone total $23 billion annually. These EPA regulations run counter to the free market principles and directly impact rural communities, small businesses, and families in my district. We simply cannot continue down the path of creating unnecessary regulatory traps that drain our economy and do little more than penalize small businesses and discourage job creation. To be clear, not all regulations are unwarranted. Commonsense rules play an important role in our economy and in keeping the American people safe. However, common sense has been lost in the regulatory process that has become politicized and wrought with bureaucracy and overlap. As a small business owner, I know firsthand the negative impacts that unnecessary regulations and excessive government involvement can have on entrepreneurs.
Editor's note · Context
The speaker addresses the economic impact of regulations imposed by the Obama administration.
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