Today, Congressman Bill Cassidy, M.D. (R-LA) voted for H.R. 4078, the Red Tape Reduction and Small Business Job Creation Act. This bill blocks the issuance of major business regulations until the unemployment rate reaches 6% or lower. It also implements several proposals from President Obama's Jobs Council.
"Just this year alone, the President's administration has issued regulations which will cost our economy $56.6 billion. This is merely part of over 400 regulations each with a $100 million economic impact from the Obama Administration. This course will prevent our economy from improving.
"This bill would immediately provide relief for small businesses. It will restrain federal agencies from issuing regulations. It will expedite important construction projects. Most importantly, it will create jobs. Such measures are needed to restore prosperity."