“I rise in support of the legislation before us that will cut red tape and spur small business job creation. Small businesses create the majority of new jobs in this country, but over the last three years, there’s been a 23% decline in new business start ups. The President says he wants to help grow small businesses. But frankly his actions have not matched his rhetoric.
“Recently, the President attacked hard earned success, telling small businessmen and women and entrepreneurs that 'if you’ve got a business, you didn’t build it.' Well, it’s pretty clear that the President doesn’t get it. Since the President took office, his Administration has had under review more than 400 regulations that cost the economy $100 million. And, small businesses are facing annual regulatory costs that add up to $10,000 per employee. If you’re a small business owner, this is just part of the maze of the regulatory red tape you are facing today. And where did we get the information for this chart? From the Obama Administration’s own websites at the SBA and the IRS.
“The president of a trucking company in Ashland, Virginia, in my district, says that constant regulatory changes by the EPA have caused the prices for his operation to go up. These rising costs have made it more difficult for him to plan for the future, difficult for him to operate in the present, and frankly has just made it plain too hard.
“We are voting today on cuts to red tape so we can empower small business owners like the one in Ashland to start growing again. Our legislation freezes costly new regulations until national unemployment drops to 6 percent or lower. Further, we give small businesses the ability to intervene before government agencies agree to legal settlements that result in more onerous regulation.
“The bill also increases transparency for federal agencies that have been operating outside the purview of regulatory review, such as the Obama Administration’s National Labor Relations Board. We know that just this year, thousands of pages of red tape have been published, imposing billions in new compliance costs on businesses. Under this bill, we will require all agencies to perform thorough cost-benefit analyses of proposed regulations. In other words, agencies must finally ask the question whether and how their proposed actions will affect job creation in our economy.
“Federal regulation must become smarter and less harmful to our economy. We know small businesses are built because of the men and women who take risks, work hard and invest capital in new ideas.
“And because it’s just too hard for these small business owners to operate, we brought this bill forward and that is why I urge my colleagues to support the passage of this legislation.”
Majority Leader Eric Cantor (R-VA)
House Floor Remarks
July 25, 2012