Sen. Ron Johnson, R-Wis., Wants a Regulatory Moratorium Pegged to Unemployment
Introducing the Regulation Moratorium and Job Preservation Act
12:20 PM, Aug 5, 2011 • By MARK HEMINGWAY
Lately there's been a spate of businessmen loudly complaining about the burdensome regulatory climate of the Obama administration. Fortunately, there's at least one highly experienced businessman in the Senate that feels their pain. Until he was elected last fall, Wisconsin Republican Ron Johnson was CEO of a plastics manufacturing company and knows all about the problems of excess regulation.
To that end Johnson has just introduced the S. 1438, the Regulation Moratorium and Job Preservation Act. The bill calls for a moratorium on federal regulations until the unemployment rate hits 7.7 percent – which is just below what it was when President Obama was sworn into office. Here's Johnson's statement on the bill:
The bill already has 19 co-sponsors in the Senate. It does allow the president to lift the moratorium for national security reasons or in times of national emergency. Senate Democrats are probably unlikely to go along with the bill, but it certainly will make them squirm. And Johnson's bill could well force debate one of the biggest impediments to job growth.