Regulatory Reform
Even though our economy is just beginning to recover from a devastating recession, federal agencies continue to write an incredible amount of burdensome regulations that will saddle job creators with added operating costs and a great deal of uncertainty about their future.
According to the Small Business Administration, small businesses - which create a vast majority of all new jobs - are disproportionately affected by new federal regulations. Small businesses with fewer than 20 employees spend on average more than $10,500 per employee to comply with regulations, while those with more than 500 workers spend roughly $7,700 per employee. These costs add up and cost jobs when our economy can least afford to lose them.
As a former business owner myself, I understand the significant challenges that businesses face in order to meet the demands of regulations. Especially in today’s fragile economy, I believe that we need a “regulatory cooling off period” to allow American job creators and their elected representatives in Congress to review regulations already in place and carefully evaluate the implications of new proposals. This way, employers can know their future costs and challenges with certainty and make plans with confidence to invest in new capital and hire more employees. Otherwise additional federal rules will continue to add additional uncertainty to an already uncertain economic environment and stifle our recovery and inhibit economic growth.
To this end, I have introduced multiple legislative proposals:
Midnight Rule Relief Act
Since 1948, in situations when control of the White House has switched to the opposite party, the volume of regulations promulgated by the outgoing Administration during the lame duck period averaged 17 percent higher than the volume of rules issued at the same time in any other year. This trend has been even more dramatic since 1970 – in 1980, 1992, and 2000, new regulations spiked when there was a switch in party control.
To address this problem, I have introduced the Midnight Rule Relief Act (H.R. 4607) to prevent “lame duck” administrations from issuing significant federal regulations between Election Day and Inauguration Day. My legislation would pertain to those rules projected to cost the economy $100 million or more annually. The House Oversight & Government Reform Committee has approved my bill, and I look forward to a vote by the House this summer.
Ribble Bill Protects Job Creators from Costly, Last Minute Regulations
Ribble Bill Ready for Floor Action
Regulation Moratorium and Jobs Preservation Act
I am also proud to have introduced the Regulation Moratorium and Jobs Preservation Act (H.R. 2898) to place a moratorium on significant federal regulations until the unemployment rate falls below 7.8 percent. We must put our regulatory house in order if we are going to help get job creation underway once again.
My legislation has garnered over 70 cosponsors, including key Committee chairmen and other Congressional leaders, and has already been included in broader legislation intended to spur economic growth. Several national and regional trade associations important to Wisconsin are supporting my effort, including the U.S. Chamber of Commerce and the Great Lakes Timber Professionals Association.
I look forward to working with my colleagues to secure passage of this legislation. I believe we must continue to work for a limited, focused government, and the Regulation Moratorium and Jobs Preservation Act represents a significant step in that direction.
Ribble Legislation Included in Republican Jobs Package
Ribble, Carter Push Unified Regulation Moratorium Bill
Ribble Legislation Helps American Businesses
Ribble Offers House Companion Bill to Johnson’s Regulation Moratorium
REINS Act
In addition to my own legislation, I have joined many of my colleagues in supporting the REINS Act (H.R. 10), which would require Congressional approval of any new federal regulation estimated to have an annual effect on our economy of $100 million or more. I am pleased that the House passed this common-sense bill in December 2011 to help lessen the impact of federal rulemakings on American job creators.