I wanted to share a recent article from AEIdeas, the American Enterprise Institute blog, further highlighting the destructive nature of the health care law.  The article notes that, according to a recent Gallup poll, 48% of small business owners believe that the law will be bad for their business.

The increased taxes and regulations are bad enough, but when you add in the uncertainty surrounding implementation of the health care law, businesses are not expanding. Even worse, they are closing their doors.  

Access to health care should not come at an unacceptable price to our small business community.  I will continue to support the repeal and defunding of this law, and promote policies that encourage, not stifle, economic growth. 

I want to share this video with you from the House Committee on Oversight and Government Reform today. Veteran truck driver Doug Grove, safety director at San Bernardino, CA based Western HiWays, explains how burdensome federal government regulations don’t align with the realities of the road.

Watch the video here or click the image below.

Read about my recent work to address regulations here.

Also, weigh in with your thoughts on regulations in my instaPoll that asks “Have federal regulations inhibited economic recovery and job creation?” Take the poll here.

A new poll by Gallup shows that 85% of small business owners surveyed are not hiring. Of those individuals, most cite the following reasons: do not need additional employees; worries about weak business conditions, including revenues; cash flow; and the overall U.S. economy.

Among small businesses who are not hiring…

• 46% (nearly half) blame new government regulations.
• 48% (nearly half) blame health care costs.
• 66% are worried about the overall economy.
• 24% (1 in 4) are worried that they may no longer be in business in 12 months.  

According to the latest Chamber of Commerce quarterly Small Business Outlook Survey, 78% of small businesses surveyed report the taxation, regulation, and legislation from Washington make it harder for their business to hire more employees.

It is no surprise that the National Federation of Independent Business' (NFIB) monthly optimism index released yesterday signaled that small business confidence remains at recession levels.

Government was not designed to be the center of the marketplace, nor was it meant to be a barrier to economic growth.  With each new overreach of the federal government into the realm of small business, the more it continues to stifle innovation and entrepreneurship in America.

As leaders in Washington, we need to be sending a different message to small business owners; one that shows government is not a barrier to business growth. Read about my recent work to enable small businesses to grow, innovate, and create jobs here.

Also -

• Attend my Small Business Leaders Roundtable discussion in Chesterfield next week
• The Simple Truth About Washington Regulations and Jobs
• Small business need a simplified tax code

Check out this 50-second video from the House Financial Services Committee revealing the simple truth about Washington regulations and jobs:

This week I had the opportunity to tour the Unilever Lipton tea facility in Suffolk to learn about its aggressive recycling and composting program that has made them a “zero-landfill” facility. It's great to have such a successful waste-to-energy program in the Fourth District.  

Read more about the facility on the City of Suffolk website in a news article that was posted when Unilever achieved its “zero-landfill” status.

According to the Small Business Administration, regulations imposed by the federal government cost our economy more than $1.75 trillion annually.  To illustrate the problem, a recent Wall Street Journal article detailed the experience of small businessman Allen Ash, owner of a toy making company whose compliance with a myriad of federal regulations have negated any profits the 135-person company has made since 2008.  Moreover, new federal requirements have forced Ash to hire four compliance officers to oversee federal product-safety rules, while at the same time having to lay off 20% of his company's staff.  Although federal regulations are intended to protect workers and ensure consumer safety, the recent increase in regulations has stifled economic growth and disproportionately affected small businesses--the backbone of the American economy. It costs about $2,830 more for firms with less than 20 employees than those with 500 or more employees to comply with government regulations on a per-employee basis. In specific areas such as tax and environmental compliance, firms with 20 to 499 employees also pay significantly more than large firms.

Question of the Week: Have onerous federal regulations stymied small business growth and inhibited America's economic recovery?

(  ) Yes, federal regulatory policies have inhibited economic growth and job creation.
(  ) No, federal regulatory policies have not inhibited economic growth and job creation.
(  ) Other (share your thoughts on my blog here).
(  ) I am unsure.

Stay in touch with Randy: Are you a small business owner?

(  ) Yes.
(  ) No, but I am employed by a small business.
(  ) No, but I am interested in small business issues.
(  ) No.

To learn more about the impact of federal regulations on small businesses, read this report from the Small Business Administration.