March 02, 2012
This week, a House subcommittee considered a bill that would impose a moratorium on all new significant regulations until the unemployment rate in the United States reaches 6.0 percent or less. The House Judiciary Subcommittee on Courts, Commercial, and Administrative Law held a hearing on the Regulatory Freeze for Jobs Act (H.R. 4078) that would prohibit the administration from publishing regulations that have an annual cost of $100 million or more but allow necessary rules for national security and public safety and health. Subcommittee chairman Rep. Howard Coble (R-NC) said that millions of Americans are out of work and businesses are not looking to hire because of the uncertainty coming from Washington. Rep. John Conyers (D-MI) called the bill “unwise” and said there is no credible evidence that regulations have any substantive impact on job creation. Further action on the bill has not been scheduled. A companion bill (S. 1438) has been introduced in the Senate, where action is unlikely.