Washington, D.C. – Today Senator Ron Johnson (WI) introduced S. 1438, the Regulation Moratorium and Job Preservation Act. The bill calls for a moratorium on burdensome federal regulations until the national unemployment rate falls to 7.7 percent – below where it was when President Obama was sworn into office. 

Johnson said:

“According to the White House, we’re now into the third year of the Obama ‘recovery.’ But job growth is anemic, and companies are still laying off workers. You would think that Washington would be focused on job creation. Instead, the White House is intent on adding new layers of job-killing regulation.

“With unemployment at 9.2 percent, and employers nationwide fearful about the Obama agenda, regulators should take a pause. The EPA’s Boiler MACT rule for example, would cost as much as $20.7 billion, and risk 338,000 jobs.  There’s no reason for the EPA to go forward with such a costly new rule when the economy is in terrible shape. My legislation gives workers and employers a break.”

During the Obama Administration, the unemployment rate has never been lower than it was the day the President was sworn in, when it was at 7.8%  Johnson’s legislation prohibits federal agencies from implementing any new significant regulatory actions until the nation’s unemployment rate falls to 7.7% It allows the President to waive the rule for regulations dealing with national security, or national emergency. It is cosponsored by 19 Senators: Kelly Ayotte (NH), Richard Burr (NC), John Boozman (AR), Dan Coats (IN), Tom Coburn (OK), John Cornyn (TX), Jim DeMint (SC), Mike Enzi (WY), Chuck Grassley (IA), Orrin Hatch (UT), Kay Bailey Hutchison (TX), Jim Inhofe (OK), Johnny Isakson (GA), Mike Lee (UT), Rand Paul (KY), Jim Risch (ID), Marco Rubio (FL), Pat Toomey (PA), David Vitter (LA), and Roger Wicker (MS).

What They’re Saying About the Regulation Moratorium and Job Preservation Act:

Wisconsin National Federation of Independent Business Director Bill G. Smith:

“Onerous regulations are the number one concern for many small businesses today, and we are glad to see that someone in Washington is paying attention”

Wisconsin Manufacturers and Commerce

“Senator Johnson’s common sense legislation would provide direct and necessary relief from the steady flow of job-killing regulations from Washington.”

Chamber of Commerce:

“Your legislation would allow the thousands of minor, noncontroversial regulations that “keep the lights on” to move forward, while placing an important check on the relatively small number of economically significant regulations that impact the business community’s ability to compete.”

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