Washington’s Burdensome Regulations
Business leaders are worried that the stifling regulations coming out of Washington will slow our economy even further.
A quarterly study from the accounting firm PricewaterhouseCoopers found that 73 percent of respondents believed legislative or regulatory reforms could hinder economic growth over the next 12 months.
“Many companies are projecting positive growth throughout the year, however, increased concerns over legislative and regulatory pressures may inhibit the rate of growth in the short term,” said Barry Misthal, a manufacturing analyst at the firm, in prepared remarks.
Regulatory taxes cost Americans about $1 trillion every year, and Washington’s healthcare takeover adds to this by placing new mandates on businesses, drastically cutting into profits that could be reinvested to expand companies and create jobs. Congress is trying to pass still more job-killing regulations: pending cap-and-trade taxes will destroy on average 13,649 jobs right here in Connecticut, and card check legislation would eliminate 765,000 jobs within two years. Regulations like these are slowing our recovery. My plan to create jobs calls on Congress to reduce burdensome regulations and mandates to send a message to businesses that Washington is ready to support, rather than hinder, economic growth.