Political Quotes

“Mr. President, today we are considering a bill intended to promote economic development, and I think it is only appropriate we also talk about regulations, because, unfortunately, regulatory mandates are stifling economic growth today and keeping us from creating the jobs we so badly need. I hear it all over my State, and I am sure my colleagues do as well. Companies are saying they want to expand. They say: We have a good idea, we have a business plan that works, but we are deterred by the cost of complying with regulations. It is the redtape and also the uncertainty. It is not just the bureaucracy and redtape, it is the uncertainty about future regulations. This regulatory burden on employers, by the way, is growing, and it is already a mess. There is a recent study commissioned by the Small Business Administration and the Obama administration which estimates the annual toll now of Federal regulations on the American economy is $1.75 trillion. That is more than the IRS collects in income taxes in a year. With the unemployment rate now at 9.1 percent, we can't continue to ask businesses to spend more on redtape. Instead, we want them to invest in job creation. The current administration, unfortunately, I believe, is moving in the wrong direction on this score. We have seen a sharp increase over the past couple of years in new ``major'' or ``economically significant'' rules. These are regulations that impose a cost on the economy of $100 million or more.…”