WASHINGTON, D.C. – Congressman Cresent Hardy (NV-4) today spoke on the floor of the House of Representatives to highlight how Congress is working to aid small businesses and encourage job creation in Nevada and across the nation, by reining in the creation of burdensome regulations.
Congressman Hardy was an original cosponsor of the Regulations from the Executive in Need of Scrutiny (REINS) Act of 2015, H.R. 427, which passed with bipartisan support in the House yesterday, 243 to 165.
“As a former small business owner, I’m not going to let Nevada’s entrepreneurs and job creators be weighed down like this anymore,” Hardy said after the vote. “Anyone who has ever owned or run a business understands the effects of unchecked government regulations on the American economy. By allowing Washington bureaucrats to continue to stuff an overwhelming amount of regulations into congressionally passed legislation, we are essentially handing over authority to federal agencies to legislate as they please.”
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On Congressman Hardy’s YouTube page: Click here to view
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Background, per Republican Study Committee:
- By 2014, the new regulations issued under President Obama filled 486,500 pages of the federal register. An additional 2,375 rules were proposed by the Administration in 2014 alone.
- The Congressional Budget Office estimates that over the last five years, the Obama Administration has issued 82 “major rules” – or rules with more than $100 million in economic impact – each year.
- The price that businesses pay to comply with complicated regulations is around $1.86 trillion each year, according to a 2014 report from the Competitive Enterprise Institute.
- Regulations are especially hard for America’s small businesses. “It’s getting more expensive to be an employer and small business owners say that’s making it harder for them to make money,” the Associated Press reported last week. “Small companies also face the prospect of higher overtime expenses under a proposed federal regulation.”
- Federal regulations also disproportionately impact America’s manufacturers, especially small manufacturers. The National Association of Manufacturers estimates that compliance with federal regulation costs manufacturers with fewer than 50 employees a whopping $34,671 a year.