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Today, Congressman Latta (R-Bowling Green) introduced the FCC Analysis of Benefits and Costs or “ABCs” Act. The bill would require the FCC to conduct a cost-benefit analysis of proposed rules and final rules. Upon introduction, Congressman Latta issued the following statement:

“Over-regulations are stifling small businesses’ ability to innovate and create jobs in the United States. With the telecommunications industry driving a significant proportion of the economic growth in our country, we should make sure the FCC does not produce regulations that will hamper this sector of the economy.

“Businesses across America, and families for that matter, are making tough decisions based on their own cost-benefit analysis, so why should the FCC escape the tough calculations every day Americans are doing.”

The latest data from the U.S. Small Business Administration Office of Advocacy reveals that regulations cost the American economy $1.75 trillion. This costs small business $10,585 per employee annually. Moreover, a Phoenix Center for Advanced Legal and Economic Policy Studies report states that for “each million-dollar increase in the regulatory budget costs the economy 420 private sector jobs.”