Revealing the Costs, Consequences of Regulation, III

By February 10, 2011General, Regulations

Coverage of today’s hearing before the House Oversight and Government Reform Committee, “Regulatory Impediments to Job Creation“…

Bloomberg, “Issa Hearing Spotlights Regulations U.S. Companies Say Hinder Job Growth“:

NAM President Jay Timmons testifies on regulatory overreach.

Witnesses at the hearing included Harry Alford, head of the National Black Chamber of Commerce, Tom Nassif, president of the Western Growers Association, and Jay Timmons, president of the National Association of Manufacturers in Washington.

Timmons said that for every $1 billion spent on complying with boiler emissions rules, 16,000 jobs are put at risk. He also said that EPA regulations on greenhouse gas emissions would limit refineries and power plants, which would pass higher costs on to consumers.

Associated Press, “GOP invites business to vent about regulations“:

Jay Timmons, president and CEO of the National Association of Manufacturers, complained about the EPA’s “continued ratcheting down of emission limits.”

Timmons called it “shocking” that the Environmental Protection Agency took an “enormously costly” air quality standard for ozone from the Bush administration and plans to make it even more onerous, a step he estimated could cost millions of jobs down the road.

Speaker of the House John Boehner (R-OH), a manufacturer himself, highlighted today’s hearing at his website, “Small Business Owners Speak Out Against Job-Stifling Government Regulations,” and the testimony of  Michael J. Fredrich, President of MCM Composites, LLC a privately held company with 60 employees based in Manitowoc, WI.

Fredrich said:

The cost of regulation incurred by all businesses is eventually passed on to the consumer and our workforce.  Regulatory costs require business owners like me to devote more time and resources to government compliance, which means less capital devoted to investment and job creation.

“If regulatory burden continues to grow we, along with all other private sector companies, will no longer be able to compete in the world market.  Jobs will not be created and new businesses will not be formed.  You will suffocate the system that has produced everything we enjoy today.  It is that simple.

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