The Economist Reports on the Obama Administration’s Job-Crushing Regulations

The February 18 edition of The Economist reported that “the home of laissez-faire is being suffocated by excessive and badly written regulation” under the Obama Administration: 

“[R]ed tape in America is no laughing matter. The problem is not the rules that are self-evidently absurd. It is the ones that sound reasonable on their own but impose a huge burden collectively. America is meant to be the home of laissez-faire. Unlike Europeans, whose lives have long been circumscribed by meddling governments and diktats from Brussels, Americans are supposed to be free to choose, for better or for worse. Yet for some time America has been straying from this ideal.
Read More »

Bloomberg: Boehner Leads Drive to Take Away Obama Power to Issue Rules

Boehner Leads Drive to Take Away Obama Power to Issue Rules
By Julie Bykowicz
December 2, 2011

The U.S. House today approved the second in a series of bills to limit the president’s authority to regulate business, a move Republicans called necessary for job creation and Democrats labeled a political power grab.

The series of regulatory bills fits with Republicans’ 2010 “Pledge to America” campaign document… [and the package's] centerpiece legislation, scheduled to be voted on next week, is called the Regulations in Need of Scrutiny, or REINS Act. It would require Congress to sign off on every agency rule with an annual cost of $100 million or more on business. Now, Congress must vote to block the president from issuing regulations.

The bill “provides a long-term solution to stopping job- crushing regulations by creating a process to responsibly evaluate whether or not regulations that have a significant economic impact are necessary,” Boehner said in an e-mailed statement yesterday.

The White House Office of Management and Budget said in a statement Nov. 29 it would recommend a presidential veto if it passes both houses of Congress.

Read More »

AP: House acts to ease small company regulations

House acts to ease small company regulations
Associated Press
By Jim Abrams
November 2, 2011

WASHINGTON (AP) — The House moved Wednesday to make it easier for small companies and banks to raise capital — and presumably spur economic growth — without being faced with costly federal registration rules.

The two measures, which passed with bipartisan support, allow small companies to sell more shares to potential investors and community banks to increase the number of shareholders they can have before they have to register with the Securities and Exchange Commission.

The bills are part of four measures the House is taking up this week to ease SEC registration rules that have been seen as an impediment to small businesses attracting investors and expanding their operations.

Read More »