OLSON VOTES FOR ACCOUNTABILITY IN THE REGULATORY PROCESS12/7/11
Washington, DC- Rep. Pete Olson (R-Sugar Land) today voted in support of greater accountability in issuing federal regulations. Olson co-sponsored and voted for H.R. 10, the REINS Act, a bill that would require congressional approval on any federal regulations with potential economic costs of $100 million or more. The bill passed the House by a vote of 241 to 184.
"Small businesses are the backbone of our economy," Olson said. "Unfortunately, the small businesses that I talk to are struggling under the weight of crushing federal regulations. Last year alone, the small business cost of the Obama administration’s major new rules was over $26.5 billion! This price tag leaves no room for job growth. This common sense measure will restore authority to approve regulations to Congress. We are held accountable by our voters, whereas unelected agency bureaucrats are not."
“We Can Create Jobs When the Government Stays Off of Our Back.”PBS’ Paul Solman: “For 34 years, Bobby Joslin has been making signs, from paper to neon. He’s become a Nashville fixture. But Joslin Sign is struggling because of uncertainty, says Joslin, about federal policy, regulations, for instance.” Bobby Joslin: “We’re fighting mandates that just keep coming at us at nowhere. … We can create jobs when the government stays off of our back. It’s that simple.” (PBS NewsHour, 12/2/11)
By the Administration’s own count, there are more than 200 more major regulations in the works that would each cost the economy $100 million or more. A study released last week by the Federal Reserve Bank of Cleveland found that – thanks to the uncertainty created by the onslaught of new rules being forced on businesses – the number of small businesses owners planning to hire is six percentage points lower. That is real jobs for this economy.
Media Contact: Melissa Kelly