Leader Cantor: We Need Less Government Standing In The Way Of The Private Sector, Not More
May 17, 2013
Contact: Doug Heye, Megan Whittemore
202-225-4000

“Mr. Speaker I rise today to support the SEC Regulatory and Accountability Act of 2013.

“The American economy is hurting and what we need is less government standing in the way of the private sector, not more. This Act will bring about some common sense reforms by requiring the SEC to review existing regulations as well as preventing new and unnecessary ones that would only continue to slow economic growth and hurt businesses and families.

“With job growth struggling, and already having experienced several years of high unemployment, we need to make certain that we are doing what we can to ensure that it’s easier and not harder for businesses to hire again. This Act will do just that by first clearly defining the root of a problem before trying to implement perhaps unjust and redundant burdens on America's businesses.

“This is an appropriate reform bill that should garner bipartisan support. The President’s own Jobs Council has advocated regulatory reform by focusing on streamlining the current system for permitting projects that can create jobs. That Jobs Council understand that regulations involving the federal, state, and local level can lead to a tangled web of red tape and cause a bureaucratic nightmare. The current system will only continue to stunt economic growth and this Act is a much needed step in the right direction.

“I would like to thank Chairman Scott Garrett and Financial Services Committee Chairman Jeb Hensarling for their leadership on this issue. Mr. Speaker, I strongly support the passage of this bill, and I urge my colleagues in the House to do so as well.”