House Judiciary Committee Chairman Lamar Smith (TX-21) today issued the following statement after the U.S. Department of Labor reported that only 69,000 jobs were created in May and the unemployment rate rose to 8.2 percent.
Chairman Smith: "Today's unemployment report is further proof that the Obama administration's policies of higher taxes and increased government spending are making the economy worse. Since President Obama took office, almost one million more Americans are out of work, we have run up the three largest deficits in U.S. history, and small businesses are strapped with an unprecedented number of costly new regulations that hinder growth and stall job creation.
"We must make real, meaningful change to the economy and put our country on the road to recovery by passing legislation that cuts government spending, reduces waste, reins in burdensome regulations and helps grow our economy."
Background: Last year, the House of Representatives passed three Judiciary Committee bills to help reduce the impact of burdensome regulations on small businesses and the economy. The Regulations from the Executive in Need of Scrutiny (REINS) Act (H.R. 10) requires Congress to approve regulations that have an economic impact of $100 million or more before they can be imposed on the American people. The Regulatory Flexibility Improvements Act (H.R. 527) requires federal agencies to identify and reduce the costs new regulations would impose on small businesses. The Regulatory Accountability Act (H.R. 3010) places permanent restrictions on regulatory agencies and restores accountability by requiring openness and transparency in the regulatory process.
Chairman Smith sponsored both the Regulatory Flexibility Improvements Act and the Regulatory Accountability Act. He is a primary cosponsor of the REINS Act.