House Republicans are setting up a vote next week on a bill that would proscribe major federal regulations until unemployment reaches 6 percent, block regulations from a lame-duck president and require cost-benefit analyses of certain rules before they take effect.
The Red Tape Reduction and Small Business Job Creation Act, H.R. 4078, is a combination of seven bills, all of which fit the theme of trying to reduce what Republicans say are hurdles to economic growth erected by excessive federal regulations. While Democrats have said the GOP has failed to move significant jobs legislation, House Majority Leader Eric Cantor (R-Va.) last week argued that getting the government out of the way counts as a major jobs bill.(Read More)