McCarthy: Overreaching federal regulations stifle the private sector; time for Washington to get out of the way

 Rep. Kevin McCarthy, House Majority Whip, gives us his weekly view from Capitol Hill.

 "Throughout our nation’s history, we have seen Americans achieve great things by taking great risks, and we are home to many of these stories. In 2004, I watched Burt Rutan’s SpaceShipOne achieve aerospace greatness as it rocketed into suborbital space to become the first private spaceship in the world.

 "Our community is filled with some of the most innovative minds anywhere, whether in agriculture, defense, energy, aerospace or technology. And it will be these leaders that will drive our nation’s economic comeback. Just look at the nine Kern County businesses that made this year’s Inc. 5000 list of the fastest growing independent, private companies in the U.S.: Hathaway LLC; Lightspeed Systems; Klassen Corp.; Electrical Systems and Instrumentation; Payzone Directional Services; Stria; ARRC Technology; Processes Unlimited International; and PLCs Plus International.

 "During the past few months, I have had dozens of discussions with small business owners in our community and have received a lot of insightful feedback. Just this week, one local entrepreneur sent me a detailed breakdown of how the business cycle that drives our economy has been slowed at nearly every step because of uncertainty.  He wrote that “if entrepreneurs and investors do not KNOW what they face at a step – that uncertainty makes them decide to wait and see what they will face – which slows down the entire process.” His comments mirror the concerns I have heard throughout our community and from business leaders across the country. Job creators aren’t nearly as likely to take the risks that have brought about the innovations that have made America great with a giant cloud of uncertainty hanging over them.  

 "So what is causing this uncertainty? Simply put: excessive government intervention in the economy. How can a small business owner in Kern County stay in business when government continues to pile on more unnecessary costs? The number of economically significant regulations (having an economic impact of $100 million or more) in the works this year is up 15 percent from last year – to 219 – and the President disclosed this week that just seven of these could cost our economy a combined $100 billion. That is just seven out of 219. No wonder business owners are standing on the sidelines!

 "When I return to Washington, my colleagues and I will immediately begin to take on the barriers that are holding up job creation and increasing uncertainty. We plan to take action on 10 major unnecessary, job-crushing regulations. To read the memo detailing them, click here. We will also be gearing up to take up a Balanced Budget Amendment and take action to pass the three pending Free Trade Agreements.

 "By addressing our burdensome regulatory climate, we can create an environment for prosperity. I know we have the next Burt Rutan or Steve Jobs in our midst, and I’m going to fight to make sure that our Federal government does not inadvertently squash the ability for innovators to take the risk to make their dream a reality. "