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Public Statements

SEC Regulatory Accountability Act

Floor Speech

Location: Washington, DC


Mr. PITTENGER. I rise today in support of H.R. 1062, the SEC Regulatory Accountability Act.

Mr. Chairman, we are coming out of and are still in the worst recession recovery since the 1930s. Our economic growth is at an anemic 2 1/2 percent. We can't continue like this. It's all because we have got a very burdensome regulatory environment. What we need is a regular recovery, one in which they lift the burdensome and unnecessary regulations and allow businesses to grow and to create jobs. Why, in 1 month alone, over a million jobs were created.

That's why I support the Regulatory Accountability Act. It's very simple. It just requires a cost analysis of new legislation and new requirements for businesses before they're implemented and then post-adoptive analysis after they've been put into effect.

Mr. Chairman, we have 59 economists at the SEC today and 175 attorneys, all trying to justify their careers with new regulations that they are writing all the time. This has got to change. We need a positive business climate that will bring us out of the bondage of Washington micromanagement and that will allow hardworking Americans to create better jobs and find better jobs to support their families and provide for them.


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