Hensarling meets with small business owners in Canton
Today, I hosted a small business roundtable with a diverse cross-section of business owners in Van Zandt County. As tax day looms large in the minds of all Americans, today’s conversation centered on Republicans’ pro-growth economic agenda, specifically efforts to reform our nation’s broken tax code and to roll back unnecessary Washington red tape, which have the potential to spur economic growth and job creation in East Texas.
Too many small business owners are struggling under mountains of job-killing red tape and a tax code that benefits those who have the money and the ability to work the system. But, relief is on the way.
When I talk to small business owners, I hear about a number of different concerns they have, but I always hear about the crushing burden of red tape that Washington imposes upon them. In 2015, that burden was $1.885 billion—almost $15,000 per American household—and President Obama continued adding to that burden to the very end of his presidency. According to one estimate, the Obama Administration averaged roughly 45 rules per month throughout 2016. Fortunately for the American economy, Congress created an expedited process for overturning newly issued regulations known as the Congressional Review Act. Until 2017, this process had been used just once, in 2001, to successfully overturn a federal regulation. Under unified Republican control of the House and Senate under President Trump’s leadership, we’ve already successfully overturned more than 10 Obama-era economy-stunting regulations—with more yet to come.