Today the U.S. House of Representatives passed a package of jobs bills designed to help small business struggling with an avalanche of red tape flowing from Washington.
A recent national survey revealed half of all small business owners in America say they're not hiring right now because of new red tape, including new ObamaCare regulations. H.R. 4078, Red Tape Reduction and Small Business Job Creation Act is a start towards controlling Washington's out of control rule writers.
"Red tape from Washington is killing jobs and slowing the economy. Not only does red tape cost a small business owner more than $10,000* for every worker, President Obama is on pace to add more regulation to the federal books than any White House in history," said U.S. Congressman Kevin Brady, who leads the Republicans on the Joint Economic Committee (which created the chart above which shows the average red tape a typical small business owner in America must grapple with).
"Enough is enough. To get America's economy moving again House Republicans are cutting red tape and preventing more job-killing regulation until the economy gets back on track," said Brady.
H.R. 4078 establishes a moratorium on super-sized red tape, ends last minute "midnight regulation" by White House as they leave office, stops "sue and settle" abuses, streamlines red tape to unlock American energy projects and requires more cost benefit analyses on pending regulation before they take effect.
*($10,585 in 2008 according to the Small Business Administration)