Washington, Dec. 2 -
Mr. Chairman, when I meet with small business owners back in southeast Texas, the one thing they always tell me is that they are not comfortable with expanding their businesses or hiring new employees because of the Federal regulators. ìWe just don't know what the Federal Government is going to do next,î is what I often hear. And considering that the code of Federal regulations is currently over 150,000 pages long, no wonder they are saying that they cannot plan for the future.
Mr. Chairman, do we really need more than 150,000 pages of regulations to be imposed across the fruited plain? Good thing the regulators weren't around to draw up regulations on the Ten Commandments. No telling what that would look like.
Anyway, a recent Gallup Poll found regulation and red tape is the most important problem currently facing business owners. That's right, not the economy but red tape. Why are we allowing the regulators to administratively pass many unnecessary rules that destroy this economic system?
Unnecessary regulations hurt all American businesses, but hurt the small businesses the most. It's not easy for a mom-and-pop shop to hire a legal department to navigate through the ever-growing list of Federal regulations that may be applicable to their small business. In fact, on average, small businesses spend 36 percent more per employee per year complying with Federal regulations than large businesses do.
This legislation will help the problem by requiring that Federal agencies just analyze the impact of a new regulation on small businesses before adopting the regulation. Once a mom and pop shop goes out of business, there's often no going back.
Regulators and elitist bureaucrats in Washington, D.C., do not always know what is best for people who own a small business. Many of these regulators have never owned a small business or even understand capitalism. They have never signed the front of a paycheck. But yet they make rules. Congress needs to ensure that we do not over-regulate America to death and self-destruct our economic system.
And thatís just the way it is.