Small Business for Sensible Regulations, a subgroup of the nonpartisan National Federation of Independent Business (NFIB), reported that regulations.gov posted 6,120 regulations and notices in the last 90 days of the U.S. President Barack Obama’s first term. [UPI]
They also reported that there will be 4100 new regulations in 2013 with the thirteen most expensive costing $515 billion – that is more money for the government to spend and waste at the expense of small business.
Excessive regulations establish a government-ATM of ever-mounting taxes and fees on the heads of small business. Then there is the added cost of wading through the bureaucracy which small business will have to pass on to the consumer.
These rules were delayed until after the election and many are the result of the Dodd-Frank bill, named after the two corrupt politicians who wrote it.
Small business optimism has plunged to a three-year low. Wow, what a surprise.
“Small businesses represent 99.7 of all US employer firms” and they are critical to our job growth. “They employ about half of all private sector employees and account for over 60% of new jobs,” according to the NFIB.
Rob Portman calls this the “regulatory cliff” and it will compound the damage caused by Obamacare.
via Rob Portman at the WSJ:
- The Labor Department is working on a regulation that will increase the cost of retirement planning for middle-class workers. It increases the cost of retirement planning, ostensibly to protect workers. It will cost consultants money they will have to pass on. It’s called the Fiduciary Rule.
- There is also an Ozone Rule which will allow the EPA to block business expansion throughout the country. It imposes an ozone limit which would put 85% of the US counties monitored by the EPA in violation. If they are already in violation, 85% of the counties can’t allow new businesses. It was put on ice until this year. It’s nuts to even consider it.
- There is an EPA rule that will cost $4.5 billion a year by targeting equipment used by power plants and manufacturing facilities.
- Then there is the Department of Transportation rule that will increase the costs of new vehicles by mandating expensive new technology like the rear-view camera.
- The Independent Payment Advisory Board, Obama’s bureaucracy to monitor patient care and health markets, will be immune from the public and is coming into its own this year. You can’t sue them or question them. It is a group of 15 people who will cut payments to hospitals and doctors which will lead to rationed care.
Obama’s regulation nation will destroy small business so why is he doing it? Because you didn’t build that, therefore, you need to be equalized. Our president really believes their money is his money to use as he sees fit.
A report from 2011: