Government Regulation And Jobs

Posted on September 2, 2011 by granny g

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On Tuesday, Fox News posted an article detailing some of the current discussions on government regulations and their impact on jobs.

Representative John Boehner has asked the Obama Administration for a list of all pending and planned regulations with a projected impact on our economy in excess of $1 billion. This request comes at the same time President Obama is claiming that he is planning to save the government money by cutting regulations.

The article reports:

President Obama replied Tuesday with a list of seven proposed rules with an estimated economic impact of over $1 billion. The various proposed regulations apply to the Environmental Protection Agency and Department of Transportation, ranging in rough costs from $1 billion for DOT hours of service regulations, to as much as $90 billion for ozone air standards.

Boehner’s office answered Obama’s letter with a statement Tuesday afternoon bashing the seven regulations.

“The combined cost of these seven new regulatory actions alone could be more than $100 billion,” the statement read. “These costs will be felt by the American people in the form of fewer jobs and slower economic growth.”

The amount of savings President Obama has called for in the reduction of federal regulations is $10 billion over 5 years. Seems a little unbalanced to me.

When the House of Representatives reconvenes this month, it is expected to examine the impact of regulations on employment and propose legislation to free small businesses from excessive regulation, allowing the businesses to grow and to hire new employees.

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