WASHINGTON, D.C. – House Majority Leader Eric Cantor (R-VA) today issued the following statement regarding the “gainful employment” regulation released by the Department of Education this morning:
“At a time when our economy remains sluggish and far too many people are out of work, we must rein in harmful regulations that hamper economic growth and job creation. The new ‘gainful employment’ regulation is one of those harmful regulations that adds another layer of red tape, limiting the flexibility of career colleges to address workforce needs in their local communities and potentially forcing some of the three million students currently attending these institutions out of their programs. This misguided regulation will hinder job creation and could prevent as many as hundreds of thousands of individuals from bringing new skills into the workforce every year. Furthermore, it will disproportionately affect the most disadvantaged students – making it harder for those who truly need financial aid to access it and further their education. Yesterday, President Obama said that his Administration would review regulatory overreach, but today’s action suggests that his actions do not match his rhetoric.
“Earlier this year, we passed H.R. 1 which included a bipartisan amendment that was supported by former Speaker Nancy Pelosi and dozens of her colleagues that would have prevented implementation of this harmful regulation. Unfortunately, it was not included in the final package signed into law by the President, allowing the harmful regulation to be implemented today. I urge the President, who has joined us in our call to eliminate such onerous regulations, to quickly rethink this particular regulation which is opposed by a bipartisan majority in Congress. It is time for actions to match rhetoric. In the meantime, the House is prepared to take action and we will bring legislation to the floor from the Education and Workforce Committee to address this issue.”