Every weekend, I have the opportunity to return home from Washington and meet with constituents' of Ohio's Fifth Congressional District. The message I have received from them is simple: The American people are tired of policies that continue to prolong our sluggish economy. As part of our Pledge to America, House Republicans have made job creation a priority in addressing America's economic challenges. I believe that regulatory reform is of key importance in helping to retain and keep jobs.
In order to reduce our nations nine percent unemployment rate, the 112th Congress must take action immediately by ending unnecessary red tape. Regulatory reform is imperative to help America's success, as it creates the right environment for job creation, reins in costly regulations and cuts spending. That's why this week Congress focused on reviewing the negative impacts of federal regulations on job creation and after nine and a half hours of debate we identified scores of costly and complex regulations that harm America's productivity.
When regulations are passed, the costs are immediately passed on to consumers and workers by increasing compliance costs and increasing consumer prices. Federal regulations make it difficult for small businesses to exist and adapt, with burdens from federal agencies maintaining a constant state of uncertainty for business owners. It is necessary for Congress to review federal regulations to eliminate unwarranted burdens on America's job creators.
For example, an unnecessary regulation that will negatively affect Ohio is the Environmental Protection Agency's (EPA) proposal to designate coal ash as a "hazardous waste". The EPA intends to proceed with this regulation despite numerous findings that coal ash does not warrant regulation as environmentally hazardous waste. Overstating the harms of coal ash will cause utilities and companies to incur $16.7 billion in increased costs per year, according to EPA reports. The increased cost would lead to an 18 percent decline in coal generated power; resulting in higher unemployment and energy costs, and further dependency on foreign countries for energy. In this economy, we cannot afford to lose any more jobs in Ohio or the United States, we need to get Washington out of the way by tearing down barriers to job creation.
While House Republicans have moved boldly to address the issue of job creation, the Administration still continues to demonstrate that it is not willing to change its unsuccessful course. As stated recently in the President's State of the Union address, the creation of more stimulus programs is believed to be the solution to America's economic challenges. As recent stimulus efforts have failed at reducing unemployment, it is clear that more federal spending will only add to our bloated federal debt.
I count it a privilege to represent the citizens of Ohio's Fifth Congressional District, and am making it my priority to follow through with the Pledge to America. It is imperative that job creation and cutting federal spending be the focus in fixing our economy and putting Americans back to work. I personally thank all of the individuals who I have spoken to who have echoed this plea, and I will continue to work with my colleagues to address these challenges.