Directing Committees To Review Regulations From Federal Agencies
Mr. Speaker, in all of my years in business, I can honestly say that I have never seen an administration so prepared to regulate nearly every ailment, either real or perceived. Nearly every segment of industry has been subjected to…
Mr. Speaker, in all of my years in business, I can honestly say that I have never seen an administration so prepared to regulate nearly every ailment, either real or perceived. Nearly every segment of industry has been subjected to increased regulation, whether it be banking, energy, automotive, services, and of course, health care. Ronald Reagan once said, ``Government exists to protect us from each other. Where government has gone beyond its limits is in deciding to protect us from ourselves.''
As a nurse and small business owner, I worked with my husband as a clinical director of the Trinity Wound Care Center in Dunn, North Carolina, where I saw firsthand the damage that government regulations can do to the growth of small businesses. The costs of these rules pile up. It's easy to understand why businesses are reportedly sitting on $2 trillion in cash. Businesses don't know the true cost to comply with the rules just imposed and are concerned about the costs and rules yet to come.
No business can properly plan with roaming regulatory activity. This halts job growth and investment in its tracks. Just yesterday, a small business owner in my district testified in the Small Business Committee about this issue. He said working through a recession is tough, but adding to the burden with cumbersome and confusing new laws and regulations makes a recovery twice as hard. The uncertainty being created by Washington is stifling his small business recovery. He testified that the new health care law and the uncertainty it is creating for small business owners makes it harder for
him to determine what his costs are. This is a time when he is struggling to meet the most basic costs of running his business. Another witness, a restaurant owner, even stated that if he had to start his business today, he would probably decide against starting.
Thank you, Mr. Chairman.
He even stated that he wouldn't start his business. He further stated that he still may have to close his doors. Beyond existing businesses, regulations may prevent new firms and startups from entering the market. These startups are the very businesses that create the jobs in America.
According to a study using business dynamic statistics between 1977 and 2005, in their first year new firms add an average of 3 million jobs. My message today is simple. We must remove burdensome regulations so that businesses can grow and entrepreneurs can start new businesses.