On Stopping The Negative Impact Of Regulations: “The REINS Act is very simple in its intent, and that is to try and stop the negative impacts of regulation that we have these job creators describe here this morning. It ensures that any regulation of significant impact should be approved by those accountable to the people, the Congress. We must not have a bureaucracy run amok if we are going to be that country where startups happen, risks are taken, where businesses flourish, and where we can see job growth. You’ve got to take away the disincentive for people to step up and take a risk. It goes back to what Safra says, you know, Safra as head of an American based multinational wants a fair shot to compete against her foreign counterparts. Just like the small businesses we have here today, they want a fair shot to ensure that government is not going to alter the rules - change them in the middle of the game - that they’ve got a fair shot at making a return. A fair shot, in those terms, encourages risk taking, which brings jobs, and along with those jobs comes a quality of life for the people of this country. That is the American dream, that’s what we’ve got to get back to, that’s what the REINS Act is about.”
In Closing: “The regulators are not listening to us. There may have been a well-intended regulation, but it is the unintended consequences that end up causing a lot of problems for others. We’ve got to knock some sense back into the process of regulation, particularly on the federal level. Our Committees are hard at work now trying to ask the right questions of the regulators and insist upon a reasoned analysis, especially if you are going to put burdens on the people we’re relying upon to create jobs this country needs. This should not be adversarial. This should be something we are cooperative and can work together on with the single goal of trying to create and return prosperity. To sum it all up, it seems to me we have got to get back to the American notion that if you are going to commit yourself to success, if you are going to decide to work hard every day and play by the rules, you ought to be able to get ahead.”
Watch the Entire Forum on Job Creation HERE.