On the recordOctober 20, 2011
today, very shortly, we will vote on President Obama's nominee to be the Secretary of the Department of Commerce, Mr. John Bryson. This is the most senior position in the Department, which is tasked with promoting business, creating jobs, and spurring economic growth. While this has always been important, it is very appropriate now, with the unemployment rate at 9.1 percent. The administration has talked about job creation and the need for regulatory reform. But respectfully, I have not seen regulatory reform yet a priority on the President's agenda. You might not find a pricetag for regulation, but there is no question that businesses know when they are overregulated. It stifles their ability to create jobs. This year alone regulations are projected to cost U.S. taxpayers $2.8 trillion, and new regulations imposed by the administration in 2011 would cost over $60 billion. So during the confirmation process, when Mr. Bryson was before our committee, I asked him about his view on overregulation. He stated that he would be a voice in the administration for simplifying regulations and eliminating those where the cost of regulation exceed the benefits. I believe his business background qualifies him to address that issue. It would give him the experience to be helpful in bringing back the regulations that are stifling the growth of business and therefore the job creation in our country. I also appreciated that Mr.…
