Isakson Cosponsors Second Bill This Week to Impose Moratorium on New Federal Regulations
U.S. Senator Johnny Isakson, R-Ga., this week cosponsored a second piece of legislation that would impose a moratorium on new costly, job-killing federal regulations. Isakson said that the bills will provide a more predictable environment for businesses, fostering expansion and growth.
Regulation Moratorium and Jobs Preservation Act of 2011, S.1438, introduced by Sen. Ron Johnson, R-Wis., prohibits any federal agency from taking any significant regulatory action until the Bureau of Labor Statistics (BLS) reports a monthly unemployment rate equal to or less than 7.7 percent.
The legislation defines "significant" as any regulatory action that is likely to have an annual effect on the economy of $100 million or more or adversely affect the economy, productivity, competition, jobs, the environment, or public health or safety.
"As I have said in the past, the number one thing the federal government can do to create private sector jobs in the United States is to quit imposing burdensome regulations on businesses. To that end, I have lent my support to two pieces of legislation this week that are aimed at stopping the "regulation frenzy' coming from this Administration," said Isakson. "I will continue to fight these job-killing, overreaching regulations because they are a big wet blanket on economic growth in this country."
Earlier this week, Isakson cosponsored similar legislation that was introduced by Sen. Susan Collins, R-Maine. The Regulatory Time-Out Act, S.1538, would impose a one-year moratorium on new regulations.
Isakson has long advocated a moratorium on federal regulations in order to stimulate job growth and has repeatedly challenged the Obama administration over numerous rules and regulations they have issued since January 2009 across various agencies, including the Environmental Protection Agency and the National Labor Relations Board.