Rep. Posey Wants a House Panel to Review Reams of Anti-Business Regs

Rep. Bill Posey, R-Rockledge, has introduced legislation to establish a House committee with the sole purpose of reviewing federal regulations that trample on businesses and kill jobs.

House Resolution 1649 would target regulations thatforce businesses and local governments to pick up the costs of regulatory red tape.

In the last 14 years, 53,000 rules have been issued by federal bureaucrats and thus far only one has been blocked by Congress, Posey said. Federal regulatory mandates cost the average small business about $7,647 per employee."

Posey said, "The only way to successfully address this issue is to have a House committee on regulatory review and American jobs, whose sole focus is to exercise direct oversight of the more than 4,000 new regulations issued each year with an extra focus on the nearly 200 rules that have significant economic impacts."

The Competitive Enterprise Institute estimated that the total cost to the U.S. economy of complying with federal rules reached $1.187 trillion last year, with the federal government spending some $54.3 billion annually to enforce the 163,333 pages of federal regulatory code.

A review of this sort may be the only way to get government out of the way of businesses looking to grow and create jobs here in America, concluded Posey.