Ranking Member Luetkemeyer sent a letter to President Biden highlighting the devastating impact his Executive Order titled “Promoting Competition in the American Economy” would have on our nation’s small businesses. This Executive Order, signed on July 9, 2021, unleashes a government-wide green light for restrictive policies on small businesses and directs nearly every federal agency to pursue a destructive regulatory agenda that will deter innovation on Main Street USA.
Excerpts can be found below.
“This is precisely the kind of tortured reasoning and backward thinking that is far from helpful during recovery from a post-pandemic recession. Small businesses are already suffering from labor shortages, high inflation, increased prices, supply chain disruptions, and the threat of increased taxes. Now they also have the fear of additional regulations, paperwork, and red tape.
“We should encourage small companies to independently expand and provide the type of environment in which they can make sound decisions for their employees and communities. The federal government must give small businesses the freedom to do what they do best, rather than telling them what to do. This means enacting pro-growth policies that we know work. It is prudent risk-taking and innovation that drive economies forward.
“Entrepreneurs have long come to our country to pursue the American dream: starting a small business with a great idea and growing it to success. Small businesses encourage the innovative thinking that serves as a springboard. They represent more than the American dream — they represent the American economy. In fact, small businesses account for 95 percent of all U.S. businesses, create half of our gross domestic product, and provide two out of three new private sector jobs. The very health and prosperity of the American economy depends on their success. American businesses, particularly small businesses, thrive when government is limited.”
Source: House Small Business Committee Republicans