GOP Wages War on Safeguards That Protect Us All Matt Madia, a Policy Analyst at OMB Watch, Robert Weissman, President of Public Citizen, Peter Iwanowicz of the American Lung Association, and Jeffrey Hollender, Co-founder of Seventh Generation and the American Sustainable Business Council joined together to call attention to Representative Darrell Issa’s plans to hold hundreds of hearings to investigate the Obama administration this year, and to hold a hearing on “job-killing” regulations this week. This is a misguided effort that distracts our government from dealing with the real reasons our economy is suffering.

Government regulations don’t strangle job creation. This is a myth repeated by the politicians and corporate CEOs who stand to dramatically increase profits if these standards go away, safeguards that in fact create and protect millions of jobs and the businesses that play by the rules. These standards ensure product and food safety, protect our environment, and ensure the proper regulation of our finance, medical, and legal industries.

Profits at American companies are higher than they have ever been in 60 years, at an annual rate of $1.659 trillion in the third quarter of 2010. The challenge we face is that even with unprecedented levels of corporate profitability, large companies still refuse to invest those profits in new jobs. With the broader U-6 measure of unemployment at 17%, Representative Issa would more productively use his time if he focused on:

• Increasing capital access to small business to create jobs.
• Reducing tax benefits to businesses that export jobs outside of the US.
• Preventing business from externalizing their costs by exposing the public to toxic chemicals and pollution at the expense of public health and environmental safety.
• Passing Toxic Substances Control Act reform and,
• Leveling the playing field by stopping companies from escaping their corporate tax obligations by using tax havens outside the US.

Jeffrey Hollender is the Co-founder of Seventh Generation and the American Sustainable Business Council. His blog, “The Next Generation of Business,” is published at jeffreyhollender.com.