Today, Senate Majority Leader Reid showed how out of touch he is with struggling small businesses by saying Republicans have not produced a “single shred of evidence” that regulations have a negative impact on the economy.
Contrary to the Senator’s claim, last month, Gallup released a survey where small businesses owners cited government overregulation as their top concern. In Senator Reid’s home state of Nevada, small business owners are saying first-hand that regulations are costing jobs and preventing expansion. It is time for Senator Reid to work with Republicans and hold votes on the House-passed bipartisan regulatory relief bills sitting in the Senate.
• Senator Reid: “While it’s proper to guard against and remove onerous regulations, and we need to do that, my Republican friends have yet to produce a single shred of evidence that the regulations they hate so much do the broad economic harms they claim. That’s because there aren’t any.” (Floor Remarks, 11/15/11)
Small Business Owners Cite Compliance With Over Burdensome Government Regulations As Their Top Concern. Small-business owners in the United States are most likely to say complying with government regulations (22%) is the most important problem facing them today ... Small-business owners' assertion that government regulations are the most important problem facing them today is consistent with another recent Gallup poll (Oct. 6-9) in which 14% of Americans volunteered that reduced government regulation is the best way to create jobs in the U.S. ... small-business owners seem to feel government regulations are making their difficult operating environment even more challenging. The magnitude of the challenges facing small-business owners is reflected by the one-third who are worried that they may go out of business or not have enough money to pay their employees in 2012. Small-business owners tend to be agile and demonstrate they can adjust to the business cycle as needed to survive. (Gallup, 10/24/11)
• Nevada Small Business Owner Says Regulatory Costs Are Preventing Him From Hiring More Workers. Pezonella Associates is a 35-year-old company that tests soil composition before construction projects begin. "We grab samples and bring them back to our lab, here." Over the last ten years, Ray Pezonella says he's seen regulations grow exponentially. And that's something he says makes it tough, when employing 25 to 35 people. "The federal government came in and took a look at some of our nuclear gauges that we use for testing soil. It's probably cost me $10-20,000 just dealing with regulations...That's way more than we used to spend. You can employ people for that kind of money." (KTVN – Reno, NV, 10/25/11)
Economist: A Regulatory Moratorium Would Benefit The Economy. "Given this situation and the fragility of the economy, I think a moratorium on new government regulations would be beneficial," said chief economist Dennis Jacobe, the author of the study. "We can leave arguments about the public benefit of new government regulations versus the cost to business for another –- better – economic situation." (The Huffington Post, 10/25/11)
• Nevada NFIB Director: Small Businesses Aren’t Hiring Because Of Regulatory Uncertainty. Randi Thompson says, "The government needs to get out of the way because there's so much uncertainty. These guys don't want to hire any more folks because they don't know what the regulations are. They don't know what the tax structure is." The NFIB says businesses are spending more money than ever with 4,000 more regulations than three years ago. (KTVN – Reno, NV, 10/25/11)