House Majority Whip Steve Scalise issued the following statement regarding the Department of Labor’s finalized fiduciary rule.
Jumpstarting Opportunities With Bold Solutions (JOBS) Act
Across the nation, Americans continue struggling under the weight of burdensome regulations and a stagnant economy. They’re all asking the same question – where are the jobs? Conservatives recognize that government is the problem, not the solution. That’s why the Republican Study Committee introduced the Jumpstarting Opportunities with Bold Solutions (JOBS) Act, a common-sense proposal to foster economic growth while removing the government burdens holding back America’s job creators. The JOBS Act unleashes the power of American energy, reforms federal labor laws, promotes transparency and accountability in the regulatory process, and spurs investment in local businesses. These bold solutions create jobs by growing the economy – not the government.
Specifically, the RSC Jumpstarting Opportunities with Bold Solutions (JOBS) Act:
Unleashes the power of American energy production by:
- Approving the Keystone XL pipeline.
- Stopping the EPA’s war on coal.
- Opening up new areas of the Outer Continental Shelf for domestic energy production.
- Repealing the ban on energy exploration in ANWR.
- Allowing states to develop resources on federal land within their borders.
- Stopping the federal government from implementing any hydraulic fracturing regulations in a state that has already issued its own regulations.
- Green lighting, via DOE, all pending export applications for Liquefied Natural Gas.
Reins in regulations to spur economic growth by:
- Requiring all federal agencies to objectively conduct a cost-benefit analysis of proposed regulations.
- Directing federal agencies to review the impact of existing rules and modify, consolidate or sunset these rules on a periodic basis.
- Allowing a person adversely affected by federal rules and regulations to petition for sunset review of the rule.
Gets unions off the backs of job creators by:
- Eliminating Davis-Bacon, repealing the requirement that prevailing (union) wages be paid for all government contracting jobs.
- Allowing employers of unionized employees to give merit-based wage increases, bonuses, or other pay, that is higher than what is provided for in the collective bargaining agreement.
- Prohibiting federal employees from using official paid time for union activity.
Spurs investment in local businesses by:
- Eliminating unnecessary regulations that inhibit capital from being invested in businesses.
- Providing regulatory relief to community banks and credit unions so local institutions can more effectively lend to small businesses and consumers.
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