Congressman Larry Bucshon (IN-08) released the following statement following the passage of H.R. 4078, the Red Tape Reduction and Small Business Job Creation Act.
Congressman Bucshon (IN-08) states:
"This legislation is necessary for job creators because Washington, D.C. bureaucrats continue to implement onerous rules that make it tougher for businesses to succeed. The failed policies of the Obama administration have placed unnecessary and costly barriers between economic recovery and small businesses across Indiana, depriving Hoosiers of much needed jobs.
"This legislation provides job creators with relief from this Administration's onslaught of regulation with significant impact to the real economy. This legislation would freeze new regulations from being issued until unemployment falls below 6 percent. It's important to get government out of the way so our nation's entrepreneurs and to protect hardworking families from higher costs, a cost taxpayers have to pay."
The annual cost of complying with federal regulations is $1.75 trillion.
The legislation is a package of seven bipartisan regulation provisions in one regulatory bill. Some of these provisions include: imposing a moratorium on non-health and emergency-related federal regulations until national unemployment drops beneath 6 percent, curtailing so-called "midnight regulations," and highlighting the prevalence of "sue and settle" agreements.