[Congressional Record (Bound Edition), Volume 157 (2011), Part 14]
[House]
[Pages 19105-19106]
[From the U.S. Government Publishing Office, www.gpo.gov]




IMPLICATIONS OF GOVERNMENT'S ADDING ADDITIONAL RED TAPE AND ADDITIONAL 
                              REGULATIONS

  (Mr. DOLD asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. DOLD. Madam Speaker, as a small business owner, I understand 
firsthand the implications of the government adding additional red tape 
and additional regulations. One clear example of this is the Dodd-Frank 
bill.
  The Dodd-Frank bill was supposed to impose clear rules and 
regulations on the financial industry so that another economic disaster 
could be averted. However, this single piece of legislation has imposed 
more uncertainty

[[Page 19106]]

into the marketplace. The bill imposes literally hundreds of new rules 
and regulations, most of which haven't even been written yet. As a 
result, businesses are not growing and they're not creating jobs, and 
this is in large part because they don't understand what tomorrow will 
bring.
  I did have an opportunity to talk to a smaller bank back in my 
district that said, We're not growing, with the exception of adding 
people into our compliance department to cross the T's and dot the I's, 
but not a single person was hired in order to try to get additional 
liquidity into the marketplace and help small businesses.
  Rather than pile on rule after rule, we should implement smart 
regulations that truly protect consumers. The last thing we want is 
another financial disaster, so we should examine the implications of 
the rules and regulations and ensure that the right regulations are in 
place and get America back to work.

                          ____________________