Red Tape Sticks it to Small Business
American small businesses are suffering and impacting job creation. According to a Chamber of Commerce Small Business Outlook Survey, 78% of small businesses surveyed report that Washington regulations and taxation make it harder for businesses to hire more employees.
This week, the House of Representatives considered H.R. 4078, the Red Tape Reduction and Small Business Job Creation Act. This legislation is a combination of bills aimed at cutting government red tape to make it easier for small businesses to create jobs. H.R. 4078 would impose a moratorium on any new regulation, save for health and emergency, until unemployment drops below six percent nationally. H.R. 4078 also contains language to restrict so called “midnight regulations” and to highlight the preponderance of “sue and settle” agreements.
The simple truth is Washington is making it more expensive for small businesses to keep current employees, as well as make new hires. Our economy needs the freedom to grow, not more burdensome regulations. The Bottom Line: to cut the unemployment rate, we need to cut the red tape.