Economically Significant Regulations On the Rise Under Obama
President Obama claims he’s overseen the creation fewer regulations than his predecessors. But his administration has actually issued far more expensive and economically costly regulations, adding billions of dollars in compliance costs for businesses and job creators. The red tape is documented in a new report by the House Oversight and Government Reform Committee.
Next week the House takes up the Red Tape Reduction and Small Business Job Creation Act, which includes seven measures that would ease the government’s growing burden on businesses and the economy.
The report cites a Gallup poll from earlier this year that found 46 percent of small business owners are not hiring because they are worried about new government regulations, and 48 percent say they are worried about the potential costs of health care.