President Barack Obama has now broken the federal requirement to assess the impact of new regulations on small businesses three times. Sen. James Inhofe (R-OK) says he knows why Obama is flouting the law.
Inhofe cites the Regulatory Flexibility Act that requires federal agencies to assess the impact of their regulations on small businesses. He says Obama failed to comply with the law twice over the past year – specifically the April and October deadlines.
“President Obama is refusing to comply with the law that requires him to publish forthcoming regulations because he doesn’t want the American public to know the terrible cost of the regulatory barrage he plans to unleash in a second term,” Inhofe said. “So instead of being honest with the American people about what’s in store if he wins, he’s been trying to hide the fact that he intends to move forward with a slew of rules that will destroy hundreds of thousands of jobs and dramatically raise the cost of energy on American families.”
The Oklahoma senator sent a letter to the president Sunday asking him to publish the administration’s agenda before Oct. 31.
“Businesses and communities need to understand the future regulatory landscape,” he wrote.
The projected loss of 887,000 jobs annually is from a National Economic Research Associates report last month. The international economic firm in its 129-page report that states the coal industry would be hit hard and the job losses would continue through 2034.