Romney Campaign Press Release - President Obama Is Hostile To America's Job Creators

"In just under four years, President Obama has taken unprecedented actions to hinder job creators. From the threat of massive tax increases to a 'tidal wave' of regulations, it's no wonder that nearly 23 million Americans are struggling to find work in the Obama economy. As president, Mitt Romney will take action on day one to give businesses the certainty they need to begin hiring again." –Amanda Henneberg, Romney Campaign Spokesperson

OBAMA'S "TIDAL WAVE" OF REGULATION HAS STOPPED BUSINESSES FROM HIRING

During His First Term, President Obama Ushered In A "Tidal Wave Of Federal Government Regulation":

President Obama "Has Pressed Forward On Hundreds Of New Mandates, While Also Stepping Up Enforcement Of Rules" In "A New Age Of Regulation." "Over the last year, the Obama administration has pressed forward on hundreds of new mandates, while also stepping up enforcement of rules by increasing the ranks of inspectors and imposing higher fines for violations. A new age of regulation is well under way in Washington ..." (Eric Lipton, "With Obama, Regulations Are Back In Fashion," The New York Times, 5/12/10)

The Obama Administration Has Added 106 New Major Regulations Worth "$46 Billion Per Year In New Costs" – Almost Four Times The Number Of Major Regulations Issued In President Bush's First Three Years. "During the first three years of the Obama Administration, 106 new major federal regulations added more than $46 billion per year in new costs for Americans. This is almost four times the number—and more than five times the cost—of the major regulations issued by George W. Bush during his first three years." (James Gattuso and Diane Katz, "Red Tape Rising: Obama-Era Regulation At The Three-Year Mark," Heritage Foundation, 3/13/12)

In 2011, The Number Of "Major New Rules" Hit An "Historic High." "A useful proxy for the overall level of regulatory activity is the government document known as the Unified Agenda, which details all proposed or final rules and is compiled twice a year by the federal Regulatory Information Service Center. The nearby chart shows the trend of major rules under contemplation since 1995, including the most recent from this spring. The current number of major new rules is 149, which is an historic high." (Editorial, "Regulation For Dummies," The Wall Street Journal, 12/14/11)

According To The Small Business And Entrepreneurship Council, "Business Owners Remain On Edge Regarding The Tidal Wave Of Federal Government Regulation." "'Business owners remain on edge regarding the tidal wave of federal government regulation that has been advanced or proposed over the past two years. ... The pain of the harsh recession was intensified and lengthened by this hyper-regulatory environment,' Karen Kerrigan, president of the Small Business and Entrepreneurship Council, wrote in a Jan. 12 letter to Issa." (Philip Rucker and David S. Hilzenrath, "GOP Eyes Rules That Firms Say Hurt Jobs," The Washington Post, 2/7/11)

Gallup: Nearly Half Of Small-Business Owners Named Concern Over New Government Regulations As A Reason Why They Were Not Hiring New Employees. (Dennis Jacobe, "Health Costs, Gov't Regulations Curb Small Business Hiring," Gallup, 2/15/12)

And President Obama Is Just Getting Warmed Up – He's Delayed Many Regulations Until His Second Term In Office:

"Pending Rules In The White House Pipeline" Have Been Delayed Until After The Election. "Pending rules in the White House pipeline would position a re-elected President Barack Obama to outpace his predecessor with second-term rulemaking, according to a review of regulatory filings. Obama has delayed until after the election decisions on regulating ozone levels and rearview cameras for cars. Rules still need to be written to carry out much of Obama's signature first-term domestic policy initiatives, the health-care overhaul and the Dodd-Frank law regulating the financial industry." (Andrew Zajac, "Obama's Second Term To-Do List Positioned To Out-Regulate Bush," Bloomberg, 3/15/12)

President Obama's Dodd-Frank Law Alone Has Hundreds Of Rules Yet To Be Written. "The ozone rule would cost $19 billion to $90 billion in 2020, according to the White House. The Obama administration puts the cost of rearview cameras at $2.7 billion. A Bloomberg Government study in July found that four provisions of the Dodd- Frank law may cost banks and other financial services companies $22 billion, with hundreds of rules yet to be written." (Andrew Zajac, "Obama's Second Term To-Do List Positioned To Out-Regulate Bush," Bloomberg, 3/15/12)

GOVERNOR ROMNEY WILL CUT REGULATIONS TO HELP BUSINESSES HIRE AGAIN

Governor Romney Will Enact Regulatory Reforms That Will Make It Easier For Businesses To Hire Again:

Governor Romney Supports The Implementation Of The REINS Act – A Law That Will "Require Congress To Sign Off On Every Agency Rule With An Annual Cost Of $100 Million Or More On Business." "The package's centerpiece legislation, scheduled to be voted on next week, is called the Regulations in Need of Scrutiny, or REINS Act. It would require Congress to sign off on every agency rule with an annual cost of $100 million or more on business. ... Presidential candidates Representative Michelle Bachmann and Representative Ron Paul have signed on as co-sponsors to the REINS Act. Former Massachusetts Governor Mitt Romney endorsed it in his Plan for Jobs and Economic Growth, released Sept. 6." (Julie Bykowicz, "Boehner Leads Drive To Take Away Obama's Power To Issue Rules," Bloomberg, 12/2/11)

Governor Romney Supports A "Regulatory Cap" On Federal Agencies That "Requires Them To Calculate The Cost Of New Rules And Offset That Cost With Reductions To Existing Rules." "Mitt Romney, the former Massachusetts governor, has proposed a 'regulatory cap' on federal agencies that requires them to calculate the cost of new rules and offset that cost with reductions to existing rules." (Jason Noble, "Candidates Emphasize Cutting Taxes, Rules," Des Moines Register, 11/19/11)