Representative Virginia Foxx (R-NC) issued the following statement after the House passed H.R. 4078, the Red Tape Reduction and Small Business Job Creation Act of 2012, by a vote of 245-172. The legislation is comprised of seven separate regulatory relief bills, including Representative Foxx's H.R. 373, the Unfunded Mandates Information and Transparency Act.
"Every year Washington imposes thousands of rules on the private sector and local governments. Hidden in those rules are costly mandates that make it harder for small businesses to hire.
"At the very least, policymakers and unelected regulators should know the cost of their dictates. The Unfunded Mandates Information & Transparency Act will help restore honesty and transparency to federal mandates and ensure Washington bureaucrats are held accountable for seeking public input and considering the negative consequences, in dollars and in jobs, prospective mandates will impose on the economy.
"Five years of work went into advancing this legislation. And as millions of Americans remain unemployed, it is my hope the Senate acts immediately to lessen the load unfunded mandates place on job creators."