6 Reasons the House Should Pass the Red Tape Reduction and Small Business Jobs Creation Act

Jul 26, 2012

Photo: Bloomberg.

Cutting red tape and reforming the regulatory process is on the plate of the House of Representatives which is expected to vote on H.R. 4078, the “Red Tape Reduction and Small Business Jobs Creation Act.” This is a package of regulatory reform bills that would improve transparency, public involvement, and sound analysis in the regulatory process.

Based on the U.S. Chamber’s Key Vote Alert sent to House members, here are six reasons why they should vote for the bill:

  1. It would streamline the permitting process that delays projects and prevents jobs from being created.
  2. It would tackle “Sue and Settle,” a legal tactic where friendly advocacy groups work with allies in regulatory agencies to write new rules with little public input.
  3. It would keep administrations from rushing through new major rules during a President’s lame duck period.
  4. It would require the SEC to do a cost-benefit analysis before adopting new rules and review current rules to determine if their costs outweigh their benefits, and if they are achieving their goals.
  5. It would stop regulators from issuing the most-significant and costly rules until the unemployment rate falls to 6%.
  6. It would ensure that Congress and the public have more information about the effects of unfunded mandates.

A multi-industry letter led by the U.S. Chamber and signed by more than 140 local Chambers and associations was also sent to House members in support of the bill.

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