Yesterday, Senate Majority Leader Harry Reid claimed that Republicans have not produced a “single shred of evidence” showing that Washington regulations harm growth and job creation. Small business owners disagree. Nearly one-quarter of small businesses cite compliance with government regulations as their greatest concern. In Senator Reid’s home state of Nevada, a small business owner said paying workers and covering the costs imposed by regulations “makes it tough.”
As Leader Cantor wrote today, in Virginia, business owners find that “the regulatory process is confusing and often counterproductive to business people trying to plan ahead and determine if they can afford to invest additional capital or hire new employees.” That is why the House remains focused on removing regulatory burdens that are making it harder for businesses to grow and hire. Today, the House will again take action to repeal the burdensome 3 percent withholding rule and help businesses to hire our veterans. Instead of making false claims, Leader Reid should bring the more than 20 House-passed bipartisan jobs bills up for a vote so that the economy can grow and people can get back to work.
Today In History: In 2001, the British author J.K. Rowling’s star creation--bespectacled boy wizard Harry Potter--makes his big-screen debut in Harry Potter and the Sorcerer’s Stone, which opens in movie theaters across the United States.
Birthdays: Burgess Meredith, Lisa Bonet, Caitlin Glass, Jay Newton-Small, and Terry Labonte
Here is what’s in today’s Ledger ...
State Of Play: House Republicans Act To Remove Regulatory Barriers Hampering Businesses, While Senator Reid Refuses To Acknowledge The Problem Even Exists
Leader Cantor: The More I Talk To Business Owners The More I Hear How Regulatory and Tax Uncertainty Is Stifling Job Creation and Economic Expansion. Many small-business men and women choose the commonwealth as the ideal place to start and grow because of its pro-business environment and ability to attract and retain new investments. However, the more I listen, the more I hear from business owners small and large that federal regulations are stifling their ability to expand their business and hire more workers. This cloud of tax and regulatory uncertainty prohibits small-business people from taking a risk, accessing capital, and forging ahead with new ideas. ... Moving forward, we must remain focused on reducing regulatory burdens that are preventing businesses small and large from succeeding. More important than ever, we must set aside differences, move past the partisanship and come together to create a better environment for economic growth so the private sector can create jobs. Richmond Times-Dispatch
• Whole Foods Co-Founder: Federal Regulations Are Discouraging Entrepreneurship & Innovation. Government regulations definitely need to be reformed. According to the Small Business Administration, total regulatory costs amount to about $1.75 trillion annually, nearly twice as much as all individual income taxes collected last year. While some regulations create important safeguards for public health and the environment, far too many simply protect existing business interests and discourage entrepreneurship. Specifically, many government regulations in education, health care and energy prevent entrepreneurship and innovation from revolutionizing and re-energizing these very important parts of our economy. A simple reform that would make a monumental difference would be to require all federal regulations to have a sunset provision. All regulations should automatically expire after 10 years unless a mandatory cost-benefit analysis has been completed that proves the regulations have created significantly more societal benefit than harm. Currently thousands of new regulations are added each year and virtually none ever disappear. The Wall Street Journal
Meanwhile, Senate Majority Leader Reid Says The Negative Impact Burdensome Regulations Have On Job Creation Simply Doesn’t Exist. Sen. Harry Reid challenged Republicans Tuesday over their continuing attacks on federal regulations, saying the idea that government rules are job killers is a "myth" invented to cover up GOP shortcomings on the economy. Republicans "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 is none," said Reid, the Senate majority leader from Nevada. ... Republicans shot back, noting a Gallup Poll of small-business owners last month who identified "complying with government regulations" as the most important problem facing them. They also pointed to an Ohio paper mill shutdown that was blamed in part on anti-pollution rules and cutbacks by Abbott Laboratories that the pharmaceutical company attributed to "U.S. health care reform and the challenging regulatory environment." ... House Majority Leader Eric Cantor, R-Va., in an August memo, told GOP lawmakers that committee chairmen "have been investigating and inventorying regulatory burdens to job creators. "They've found many that have tied the hands of small-business people and prevented job growth," Cantor wrote. "By pursuing a steady repeal of job-destroying regulations, we can help lift the cloud of uncertainty hanging over small and large employers alike, empowering them to hire more workers." The Las Vegas Review-Journal
• Watch Senator Reid Show How Out Of Touch He Is With The Small Business Community HERE
Reminder: The House has sent multiple bipartisan regulatory relief bills to the Senate to help small business, however the Senate has refused to act. View the list of House-passed relief bills HERE
State Of Play (2): Democrats Grab The Whip From Hoyer, Call On Their Caucus To Support Bipartisan BBA
DeFazio Says Pelosi and Hoyer Are Making A “Mistake” and Calls On Democrats To Support The BBA. Oregon Rep. Peter DeFazio is urging his colleagues to buck Democratic leadership and vote in favor of the balanced budget amendment that’s headed for a vote in the House at the end of this week. “I believe our leadership is making a strategic mistake asking Democrats who support a balanced budget amendment to make a partisan stand against it,” DeFazio wrote in a letter circulating among his colleagues on Capitol Hill. “I believe the American electorate has rejected the extremist positions of the right, but if we outright reject a bipartisan compromise, then Democrats look out of touch.” Politico
• Dem Aide: Dem Opposition To The BBA Is Based On Politics Not Policy. “A lot of people are skeptical not because of policy, but because of politics,” the aide said. Roll Call
Democrats Sign Up To Whip Votes For Bipartisan BBA. On Tuesday, Democratic Reps. Peter DeFazio of Oregon, Mike McIntyre of North Carolina, Jim Cooper of Tennessee, Jim Costa of California and Jason Altmire of Pennsylvania signed up to whip Democratic votes in favor of a balanced budget. Mr. DeFazio, who voted for the amendment in 1995, told The Washington Times in an interview that, if it had passed, “today we’d be paying off the last of the debt.” Rep. Bob Goodlatte, the Virginia Republican sponsor of the bill, welcomed the help. “There are many Democrats who are working hard on their side of the aisle to bring those votes about,” he said. The Washington Times
• Douglas Holtz-Eakin On Why The Nation Needs A Balanced-Budget Amendment. It is time for the U.S. to adopt a BBA. Why? At present, the federal government does not have a fiscal policy. Instead, it has fiscal “outcomes.” The House and Senate do not reliably agree on a budget resolution. Annual appropriations reflect the contemporaneous politics of conference-committee compromise, and White House negotiation. Often, the annual appropriations process is in whole or part replaced with a continuing resolution. Annual discretionary spending is not coordinated in any way with the outlays from mandatory spending programs operating on autopilot. And nothing annually constrains overall spending to have any relationship to the fees and tax receipts flowing into the U.S. Treasury. The fiscal outcome is whatever it turns out to be (usually bad), and certainly not a policy choice. National Review
The Road Ahead: Momentum Continues To Build Against ObamaCare
Americans Favor Repealing ObamaCare. Given a choice, 47% of Americans favor repealing the 2010 Patient Protection and Affordable Care Act, while 42% want it kept in place. Gallup
• Editorial: ObamaCare Is An Unconstitutional Federal Power Grab. The real issue when the U.S. Supreme Court hears arguments on the federal health care overhaul known as Obamacare will be whether the United States is to remain a federal republic with a national government of limited and enumerated powers. This will be the most impactful case the high court has heard in decades because it will either check the federal government's power grab, or allow it to continue until states and individuals are completely subservient to the will of a dominant central authority. ... The health mandate, they argue, exceeds the federal government's powers to regulate commerce because those who have not purchased a health insurance policy have not engaged in commerce at all. And the Medicaid portion of the statute violates the Constitution's reservation of powers to the states. ... This can't be what the Framers of the Constitution had in mind. When members of the Committee on Style were drafting the document in Philadelphia in the summer of 1787, they argued about the placement of commas and semi-colons. They wouldn't have done so had they envisioned a Congress that would have unlimited power to adopt any regulation covering anything. The Supreme Court should strike down the Obamacare mandate. And Congress should go back to the drawing board and craft a solution to the problem of providing citizens with affordable access to health care that doesn't break the bounds of our constitutional and federal systems of government. The Detroit News
Solyndra Might Not Even Be The Worst Investment The Obama Administration Made. The amazing thing is that by this standard Solyndra may not be the worst investment, relatively speaking, since the entire DOE portfolio seems to be such a dog. "What's terrifying is that after looking at some of the ones that came next, this one started to look better," one White House budget staffer wrote in an April 2010 email. "Bad days are coming." The Wall Street Journal