Congressman Bill Shuster voted today to pass the Red Tape Reduction and Small Business Jobs Creation Act (H.R. 4078). The bill is a legislative package of bipartisan measures that would end the uncertainty facing small businesses and job creators as a result of excessive regulatory rule writing.
"The regulatory burden on small businesses created by this Administration is crippling our economy. Red tape has kept small business owners from expanding their businesses and creating jobs for the American people," said Shuster. "The Red Tape Reduction Act will freeze regulations that weigh on these businesses which will spur job creation and ultimately put Americans back to work."
This legislation is a combination of proposals that will streamline the federal regulatory process, reduce litigation, and prevent regulatory initiatives that impede economic growth. It will also impose a freeze on regulations that harm the economy until the unemployment rate drops to 6 percent or below. This freeze has been projected to save up to $22.1 billion as well as thousands of jobs.