Madam Speaker, the nation is overregulated. You talk to any business owner, small or big, one of the first things they will talk to you about is the massive amount of Federal regulations that are imposed on them, many of them making no sense but costing them money. Of course, that cost is always transferred down to the consumer, the American citizen.
I have tried to find out in the last few days how many regulations there are. Nobody knows. We cant find anybody in Washington that can give us an exact number of how many. One person that I trust said that there are over 300,000 Federal regulations that have punitive fines for failure to abide by that regulation. Thats a lot of regulations.
It seems to me and this is just my opinion that down the street where the bureaucrats work in those offices and we dont know who those people are they get up every morning; they go into a room; they sit around a big conference table, drink coffee, and they say, Who can we regulate today? And they write out another regulation and pass it down to the fruited plain and make the American citizens comply with that regulation.
Some regulations are probably pretty good. Some probably are not so good. And its our duty as representatives of the people to control and regulate the regulators. That is our job. I believe that is our constitutional requirement since we allow these agencies to exist in the administration.
It seems to me the Federal Government should help business, not get in the way of business. And we should start our job of doing away with burdensome regulations that dont help the country.
This law allows Congress to review, by means of an expedited legislative process, Federal regulations issued by the government agencies and by passage of a joint resolution to overrule a regulation. We should have oversight over those regulations.
The health care bill is probably a pretty good example of this overregulation. Regardless of where we are on that issue, it brings about new massive, expensive regulations. Section 906 of H.R. 3590 will require business owners to submit a separate 1099 form for every single business transaction that they have with another business that totals more than $600 a year. What that means, youve got a business and they deal with other businesses. If they deal with them more than $600 a year, which many businesses do, theyve got to file a 1099 form.
Its expensive regulations that makes no sense. Why should all this paperwork be sent up to Washington so bureaucrats can review it? I dont understand the logic. It makes no sense. It costs money.
But the bill also requires 16,000 new IRS agents to oversee the individual mandate requirement that every person must comply with. I think that mandate is constitutional. The Supreme Court will eventually decide. But why do we need 16,000 new IRS regulation agents under the health care bill? I think thats overregulation. And, in fact, the Congressional Budget Office, as my friend, the chairman from Texas, said, Director Elmendorf yesterday testified that the health care bill will cost 800,000 jobs for Americans. He said that yesterday. So the bill is not going to help the economy. Its not going to help get jobs. Its going to cost up 800,000 jobs.
These are some reasons why I think Congress has the obligation to review the regulatory process and to get our house in order and probably eliminate a few of those 300,000 expensive regulations that are imposed upon businesses and on citizens.
And thats the way it is.