Texas Insider Report: Washington D.C. With unemployment at record levels its imperative Congress focus on reducing Washington bureaucrats rules & regulations that impede job creation discourage innovation harm global competitiveness and inject uncertainty into our economy" said Congressman Pete Sessions (R-TX-32) while introducing H.Res. 72 calling on 10 House Committees to review existing pending and proposed regulations and orders from federal government agencies focusing on their impact on our nations economy and ability to create jobs.
House Republicans have repeatedly called for more transparency and accountability in our government regulation process" said Sessions. This legislation will instill a proper review process to put an end to regulations that destroy jobs and stifle our nations economy."
Last year the Obama Administration unleashed an unprecedented 43 new major regulations including 15 from the Frank-Dodd Financial Regulatory
bill 5 from ObamaCare and 10 from the
Environmental Protection Agency.
Together these new regulations will cost taxpayers more than $26.5 billion annually. In 2011 the regulatory burden on the American people is expected to increase even more with the enactment of the new health care law financial and energy regulations and other impending rules.
Government regulations regularly impose costly burdens on American businesses due to annual compliance costs and new rules can require new equipment purchases conversions of industrial procedures and data collection and reporting revisions.
For example a new regulation in the Frank-Dodd bill requires the Securities Exchange Commission to make modifications to computer systems and surveillance mechanisms for information gathering and managing that will cost over $1 billion.
Under Sessions legislation the following House committees are tasked with reviewing government regulations within their jurisdiction and reporting on regulatory impediments to job creation and economic growth:
- the Committee on Agriculture
- the Committee on Education and the Workforce
- the Committee on Energy and Commerce
- the Committee on Financial Services
- the Committee on the Judiciary
- the Committee on Natural Resources
- the Committee on Oversight and Government Reform
- the Committee on Small Business
the Committee on Ways and Means; and- the Committee on Transportation and Infrastructure.
Its time for Congress to reign in big government and shine light on our federal regulatory process. I look forward to the House considering my legislation for removing unnecessary regulatory burdens on businesses to stimulate our economy and get the American people back to work" Sessions concluded.
