This morning, the Department of Labor released the November jobs report. The unemployment rate is now at 8.6 percent, marking the first time in 30 months it has dropped below 9 percent. While this is encouraging, unemployment is still way too high, and we must continue working to improve our economy.
Texas has received national attention this year because our job growth and business development is better than much of the rest of the nation. Small businesses account for a majority of employers in Texas, and Texas is the top relocation state for corporations. It’s clear that Texas has created an environment that is friendly to job growth, and it’s time the rest of the country did the same. Congress must put policies in place that put Americans back to work and get our economy thriving again. A key ingredient is reducing the regulatory burdens put on businesses of all sizes.
House Republicans have made reducing federal regulations a priority. The House has successfully passed over 20 bills that focus on job creation by cutting regulatory red tape. In fact, just this week, the House passed two more bills to remove regulatory burdens. Unfortunately, these jobs bills continue to pile up in the Democrat-controlled Senate.
Not only is the Senate refusing to consider the House-passed jobs bills, the President has actually been increasing the number of regulations imposed on the private sector. Since the President took office, over 75 new major regulations have been enacted – costing the private sector $40 billion for their compliance. This regulation creation is out of control.
As the year draws to an end, it is important we continue reining in regulations. I will keep you updated as we move forward and put more pressure on the Administration and the Senate to follow our lead in restraining the federal government.