Cutting 'Red Tape,' House GOP Pushes for Small Businesses
With the national unemployment rate stagnant around 8 percent, House Republicans this week are taking to the floor to loosen "job-killing" regulations they say hurt small businesses.
"The House remains focused on jobs," House Speaker John Boehner told reporters on Capitol Hill today. "These bills that we'll be moving this week will cut through the red tape and freeze new regulations until unemployment is at or below six percent."
House Republicans are championing the Red Tape Reduction and Small Business Job Creation Act, which would limit government regulations for businesses until the unemployment rate falls to six percent. Boehner and other House leaders today pointed to a Small Business Administration study that found regulations cost employers $10,000 per year per employee, adding that 78 percent of small business owners believe regulations stand in the way of new hiring.
Republican leaders attacked President Obama's administration for imposing 400 new business regulations since he took office, costing more than $100 million a year, they said.
"The president's out there talking about being there for small business, trying to respond to the economy, but his actions don't necessarily meet his words," said House Majority Leader Eric Cantor.
"If we want to do something about jobs, we go right to our job creators and try and help them create more opportunities for more people," he continued. "That's what we're doing this week: We're removing the red tape, we're acting to try and make it easier for entrepreneurs to invest and create jobs."
Republicans were also quick to seize the president's comments on the campaign trail July 13, in implying his stump line "you didn't build that" was meant as an attack on U.S. business owners.
"You talk to any small business person in America … the first thing they say is, 'With all due respect, Mr. President, I built this business. You didn't,'" said Rep. Jeb Hensarling, R-Texas, adding that the Obama administration has seen a 53 percent increase in business regulations. "'And Mr. President … not only did you not build this business - you're hurting this business."
Next week, House Republicans will act to extend all current tax rates in an attempt to tackle the so-called " taxmageddon" which experts say could plunge the economy into another recession, before many provisions of the tax code are set to expire at the end of the year.
"The uncertainty looming on these tax hikes needs to be erased," Cantor, R-Va., said. "That is the opposite of what Americans want. We'll continue to try and deliver on the promise to get this economy back on track."
Boehner said Democratic leaders need to step up with their own plan if they do not like the GOP's proposal.
"Listen, we're the only ones in town who have offered a plan to stop the tax hikes that threaten our economy and to stop the sequester that's coming that will cut defense and hurt our ability to provide security to the American people," Boehner said. "We're going to continue to focus on what the American people expect us to focus on: The big issues that they sent us here to deal with."