The House Policy Committee recently held a public hearing to examine the impact of regulations on economic growth, job creation and government accountability.
Pennsylvania has more than 164,000 regulatory restrictions, the 14th highest in the United States.
Reducing regulatory requirements by 36 percent would cause a $9.2 billion increase in the state’s gross domestic product, according to the Commonwealth Foundation. This the equivalent of 180,000 new jobs and $1,760 per household annually.
The hearing, Reining in Regulations to Unleash Pennsylvania’s Potential, featured testimony from Emily Greene, Americans for Prosperity state director for Pennsylvania, and Kevin Kane, Commonwealth Foundation legislative strategy director. Greene and Kane spoke about how regulations are driving businesses, jobs and families out of Pennsylvania.
“Regulatory delays are costing Pennsylvania huge investments while also burdening small businesses with compliance costs and uncertainty,” Policy Committee Chairman David H. Rowe (R-Snyder/Union/Mifflin/Juniata) said. “Restoring legislative oversight and reducing bureaucratic hurdles are essential to reversing economic stagnation and preserving the American dream for future generations here in Pennsylvania.”
The hearing also discussed how the Regulations from the Executive in Need of Scrutiny Act is one means possible for reducing state regulations. The act would require economically significant regulations to receive legislative approval.