Political Quotes

“Mr. Chairman, I yield myself such time as I may consume. Washington's regulatory system is one that virtually every day places new obstacles in the path of American jobs and economic growth. The biggest obstacles of all are new regulations that impose more than $1 billion per year in costs on the American economy. Struggling workers, families, and small business owners have every right to ask why regulations that cost this much are ever promulgated at all. Surely, there are less costly measures that are effective and should be adopted instead. Those less costly measures would allow many more resources to be devoted to job creation and productive investment. But billion-dollar rules are promulgated, and there are more and more as the Obama administration grinds to an end. This is one of the reasons our economy has faced so much difficulty in achieving a full recovery under the Obama administration's misguided policies. Making matters worse, when billion-dollar rules are challenged in court, regulated entities must often sink billions of dollars into compliance while litigation is pending even if that litigation ultimately will be successful. Such was the case in Michigan v. EPA, for example, in which an Environmental Protection Agency rule for utilities imposed about $10 billion in costs to achieve just $4 million to $6 million in benefits. That is, at best, about $1,600 in costs for every $1 of benefit.…”