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Formula For Innovation And Job Creation

(Mrs. BLACKBURN asked and was given permission to address the House for 1 minute and to revise and extend her remarks.)

Rep. Marsha Blackburn

legislator photo

Madam Speaker, in the wake of the Obama budget that has been filed this week and has been called everything from a nervous breakdown on paper, to a disaster, to not a serious budget, we get more news this morning.

According to a Gallup poll that has come out this morning, 85 percent of small business owners in this country indicated that they are currently not looking for workers. Asked why, 48 percent said it was due to concern about possible rising health care costs. Forty-six percent said that they were worried about new government regulations because last year this administration gave them about 4,000 new mandates and gave them about 80,000 pages of new Federal regulations.

We need to return to the time-tested formula that always works in this country: less regulation plus less taxation plus less litigation always equals more innovation and more job creation right here in this country.

We know that the total cost of Federal regulation has risen to $1.75 trillion annually, twice what is collected in Federal income taxes. Let's get on the right track.