Recently, the House of Representatives approved the Red Tape Reduction and Small Business Job Creation Act (H.R. 4078). This piece of legislation would put a moratorium on any new “significant” workplace-related regulations from the federal government until the national unemployment rate, as measured by the BLS, drops to 6 percent or less. H.R. 4078 defines "significant regulatory action" as any regulatory action that is likely: (1) to have an annual cost to the economy of $100 million or more or to adversely affect the economy, productivity, competition, jobs, the environment, public health or safety, small entities, communities, or state, local, or tribal governments; (2) to create a serious inconsistency or otherwise interfere with another agency's action; (3) to materially alter the budgetary impact of entitlements, grants, user fees, or loan programs or the rights and obligations of recipients thereof; or (4) to raise novel legal or policy issues.

Although that is your usual “very legal” definition, the goal of the bill is to “boost the struggling U.S. economy and stimulate the stagnant job market. Supporters of the bill claim that new federal workplace regulations and government red tape have placed unnecessary burdens on employers and hampered them from expanding and growing their businesses” reports WeKnowNext.

Further, the chief sponsor of the legislation Representative Tim Griffin, of Arkansas said that “job creators have repeatedly told me how excessive and overly burdensome regulations have prevented them from hiring more employees and growing the economy.”

Over 100 small businesses organizations have shown their support including the legislation, including the U.S. Chamber of Commerce and the National Federation of Independent Business (NFIB).

Union groups though are not that thrilled at all with the new piece of legislation as they feel that the lack of new regulations will pose the risk of allowing a dangerous workplace and could lead to the “erosion of workplace health and safety protections for millions of U.S. workers.”

WeKnowNext continues, “the bill would allow federal agencies to take a significant regulatory action if the president determines that the new regulation is needed to address an imminent threat to the health and safety of workers or is needed to protect national security. In addition, the legislation would prohibit an out-going president from issuing new federal regulations in the final months of his or her term (between Election Day and the inauguration of the new president)…”