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The Weight of Regulations
Posted by Randy | June 14, 2011
According to a report released this month on job creation and America’s future, there has been a 23% drop in the rate of new business creation since 2007, resulting in as many as 1.8 million fewer jobs for Americans.

I believe that the barrage of burdensome federal regulations coming out of Washington contributes to this decline in new business creation. Over the past several years, increasing and complex government regulations have stifled business creation and hindered job growth.  In fact, today the Wall Street Journal reported that a new set of EPA regulations alone “will destroy 50,000 jobs and another 200,000 down the supply chain.” This is on top of the thousands of pages of regulations that are already on the books. The Federal Register – which houses all Washington regulations– is 34,000 pages in length and weighs in at more than 340 lbs.

We cannot afford that kind of weight on our already fragile economy. The federal government was not intended to be a barrier to economic growth, and I believe it is time we examine existing and pending regulations to identify and address those that hurt economic growth.

You can read about the REINS Act here, which I’ve cosponsored, that would require Congressional review and approval of any government regulations that have a significant impact on the economy or burden small businesses.

Share your thoughts – do you think burdensome federal regulations are having a negative impact on economic growth?
Comments
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  • Annette Jackson commented on 12/5/2011
    Congressman Forbes seems to buy into the conservative mantra that environmental protection kills jobs. Do not be fooled! Allowing companies to run rampant and pollute our air and water at will is a thing of the past due to the EPA. We need to be supporting stronger laws, not going back to the bad old days.
  • David Timm commented on 2/29/2012
    Fewer regulations equal more jobs? Get serious. The history of the past ten years shows that fewer regulations and little-to-no enforcement of existing laws have meant the LOSS of millions of jobs and the creation of untold numbers of un-indicted and non-prosecuted billionaires whose shady dealings will never come to light. A POX on their houses and the Department of Justice alikee! Here we are- almost two years into a solid GOP House majority, and all you people have done is trash Obama; seek to impose more draconian control over Women's health; and fight to keep taxation low on the so-called "job creators" who have had almost ten years to create jobs based upon the last tax cut. So where are those jobs? Why do you tell us that t IF you & your orthodox brethren eliminate regulations; extend the tax cuts and - God Forbid - give the 1% still lower taxes - that anything will change? (OOPS! My mistake: An apology here. Things WILL change: they'll buy larger yachts & send more money oversas!) The major thing that you have working for you, Sir, is that the local Democrats have NEVER been able to get their act together sufficiently to mount a serious challenge for your seat.
  • David Lockwood commented on 3/7/2012
    Amen to the statements above! Regulations are required to keep unethical, greedy, people from causing harm. It's sad that some businesses, institutions, banks, etc can't be trusted to do the right thing.
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