On the recordFebruary 5, 2015
Good morning, Mr. Conyers. It is good to see you. Six long years into the Obama administration, and notwithstanding some fleeting, recent signs, jobs have yet to recover from the recession. Wages also have not recovered, and the rate of new business startups has not recovered as well. Instead, permanent exits from the labor force are at historical levels. Real wages have fallen. Dependency on government assistance has increased. Our economy is failing to give enough hardworking Americans the confidence they need to start new small businesses and create new jobs. At the root of our problem are, more than anything else, the endless drain to Washington of hard-earned income that working people and small businesses need to turn things around in their homes and communities and Washington's endless placement of regulatory roadblocks in the path of opportunity and growth. That regulatory burden hits small businesses especially hard. Small businesses generate 63 percent of net new private sector jobs and employ nearly half of America's private sector workers; yet they have to pay significantly more to comply with Federal regulations than do larger employers. Poll after poll has demonstrated that the level of Federal regulations coming from Washington is at the top of the list of obstacles faced by America's small businesses, our top job creators.…





