Washington, D.C. (July 26, 2012) – Rep. Gus Bilirakis (R-FL), supported legislation that passed the House of Representatives on Thursday that would eliminate burdensome regulations that continue to cripple the country's economic recovery.
"To create meaningful jobs and cut the unemployment rate, we need to cut the red tape," Bilirakis said. "Regulations that don't add value have gone too far and have limited businesses ability to expand and hire."
The Red Tape Reduction and Small Business Job Creation Act (H.R. 4078) would require cost-benefit analyses of proposed regulations, would streamline the approval process for certain permits, and would allow impacted parties the opportunity to voice their opinions before the administration enacts overzealous and potentially damaging regulations.
It would also prohibit a government agency from finalizing any significant regulatory action for two years or until the unemployment rate falls to 6 percent or less, whichever occurs first.
Action would be allowed if it is deemed necessary for health or safety reasons, the enforcement of criminal laws, national security, or an international trade agreement. Government agencies would also be allowed to finalize a significant regulatory action if it is determined to be deregulatory in nature.
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