On the recordSeptember 12, 2011
Mr. President, last month's dire economic news is a call to urgent action to get America working again. In August, our Nation produced no net new jobs. Productivity fell. Home sales fell. Construction spending fell. The manufacturing index declined. Unemployment is stagnant at 9.1 percent, and consumer confidence is plummeting. Businesses, our Nation's job creators and the engine of any lasting economic growth, have been saying for some time that the lack of jobs is largely due to a climate of uncertainty, most notably the uncertainty and cost created by new Federal regulations. The Regulatory Time-Out Act, which I am introducing today with 16 of my colleagues, provides job creators with a sensible breather from these burdensome new regulations. This would give businesses time to get back on their feet, create the jobs that Americans so desperately need, and enhance the global competitiveness of American workers. Let me make clear that we also need to reform the process for issuing regulations. Earlier this year I proposed the CURB Act, which stands for Clearing Unnecessary Regulatory Burdens. The CURB Act would require agencies to examine the costs and benefits of proposed rules, prohibit them from attempting to set rules through unofficial guidance documents--thus circumventing the public notice and comment period--and provide businesses with relief from first-time paperwork violations when no harm comes from the violation.…
Source
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