Political Quotes

“We talk a lot in this Chamber about the burdensome regulations that Federal agencies frequently place on the American public. Last week the Competitive Enterprise Institute released a report that puts a price tag on the rules implemented by the Federal bureaucracy, saying that Federal regulation and intervention cost American consumers and businesses nearly $2 trillion in lost economic productivity and higher prices in 2014. That is simply unacceptable. Many of these rules hinder innovation and job creation and are costly to businesses and consumers. As a former small-business owner, I know firsthand how the government can make it more difficult for a business to be successful. I recognize the true costs of overregulation, such as lost productivity, increased expenses, and new financial and legal liabilities, which many policymakers often forget about. Just last month, the House approved a disapproval resolution to stop the Obama administration from implementing its flawed fiduciary rule, which will significantly impact the ability of Americans to receive advice on how to save for retirement and make it more difficult for businesses--in particular, small businesses--to establish retirement plans. The rule, which contains more than 1,000 pages of new regulations, makes it cost prohibitive to offer advice or services to low- and middle-income Americans by increasing compliance costs and the risk of litigation.…”