Moving in the Right Direction on Regulatory Reform

Friday’s news that our unemployment rate remained 9.1% in August is a discouraging indication that there are still few signs of an end to our joblessness crisis.

One of the primary causes of our economy’s continued inability to create jobs is the crushing burden of excessive government regulation on our businesses. Fortunately, the President announced on Friday that the EPA is dropping a major regulatory decision that would have cost businesses nearly a trillion dollars over the next ten years.

The EPA’s regulation would have reduced acceptable ozone level standards so dramatically that nearly 90% of all the counties in America would have been in violation of the new standards. This would have subjected these counties to more regulation and required them to take steps to reduce carbon emissions.

These regulations would have not only increased costs for local communities that are already strapped for cash. They would have a strangling effect on job creation by forcing communities to prevent businesses from opening or expanding in order to bring themselves in compliance with the standards.

When Congress reconvenes this week, investigating excessive and unreasonable regulations and their effect on job creations will be a top priority. Friday’s decision by the President is a solid first step towards reducing the regulatory burdens on our job creators, but we still have a long way to go before small businesses are able to expand and invest without fear of government overreach.