House Republican Conference Secretary John Carter (R-TX) has joined forces with U.S. Rep. Reid Ribble (R-WI) in pushing H.R. 2898, the Regulation Moratorium and Jobs Preservation Act to put an immediate halt to new job-killing federal red tape. Senator Ron Johnson (R-WI) has introduced identical Senate legislation, S. 1438.
Carter, author of the Regulation Moratorium Act of 2011, HR 1235, has agreed to join with Ribble in pushing HR 2898 to unify House and Senate efforts to pass a ban on new regulations.
"This moratorium issue has gained sufficient steam that we now have a good chance of putting this on the President's desk -- if we all unify behind one bill," says Carter. "This bill already has 26 Senate co-sponsors, so I urge my colleagues to get behind this effort immediately. This is one bill that can save and add hundreds of thousands of new jobs over the next year, at zero cost to the taxpayer."
Ribble, House author of HR 2898, says, "Our country has some of the most brilliant innovators and entrepreneurs, but instead of incentivizing them to start businesses and hire new workers they are tied down by regulatory red tape. This legislation will loosen the grip regulations have on businesses and help make sure that jobs are not held hostage. Our bill will help get people back to work and I hope others will join Congressman Carter and me in our efforts."
The Obama Administration finalized 3,573 new federal regulations in 2010, and new rules slated for this year currently threaten over 4 million new and existing jobs. With unemployment standing at 9.1%, HR 2898 would ban the implementation of any new major regulation until unemployment drops below 7.8%, the rate when the Obama Administration took office.