The Kauffman Foundation released data that start up firms are creating and sustaining fewer jobs than in recent history. This is not good news for increasing job growth in this recovery.
To help focus on this challenge the Foundation also recently unveiled a proposal to promote new business and job growth. Among the recommendations are a sunset provision for major rules that “would regularly cleanse the books of inefficient and costly rules and, thus, barriers to business formation and growth for all businesses, including startups.”
Congress should heed this report and focus part of its job creation agenda on regulatory reform including proposals to sunset existing regulations. Clearing out the regulatory thicket that has grown over time will help to reduce the cumulative burden of regulation and make room for new ideas and modern technology.
Erik Glavich is director of legal and regulatory policy, National Association of Manufacturers.