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Pence wants moratorium on new business regulations

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Indiana gubernatorial candidate Mike Pence said Tuesday he would issue a temporary moratorium on new business regulations pending a review of existing red tape because companies need a break from the hundreds of new rules imposed by fellow Republican and current Gov. Mitch Daniels.

Pence said that if elected, he'll issue an executive order to declare a moratorium on new regulations and ask his budget office to review existing rules, business fees, and regulatory performance metrics to ensure they were the least costly and had the least impact on job creation.

"The state has added almost 1,200 new regulations in the past four years," Pence said. "Businesses need relief, and they need it now."

Democratic gubernatorial nominee John Gregg said the proposal showed Pence was "out of touch" with the state.

"This is what happens when you're out of state and out of touch: you call Mitch Daniels an overregulating job-killer," he said in a statement.

Daniels remains popular but is barred by state law from seeking a third term as governor.

Pence said the moratorium would not cover regulations needed to address emergency health or safety concerns or to meet federal mandates.

He also said the budget office's review of existing regulators could be completed at no additional cost to taxpayers by shifting resources to the agency.

Pence said regulation can be "a bureaucratic nightmare" for small businesses, costing them 36 percent more per employee than big companies. He supported his claim by citing a study published by the U.S. Small Business Administration in September 2010.

Small businesses employ nearly half of Indiana's workforce, and in the past 30 years, companies that have fewer than four employees have been responsible for the state's net job growth, he said.

"The health of our state's economy depends on the health of our small businesses," Pence said. "Every dollar not spent on regulatory paperwork is a dollar that Indiana businesses can spend putting Hoosiers to work."

The Pence proposal also calls for reviewing Indiana's practice of directly regulating certain occupations that employ 1 of every 7 Indiana workers. Pence also would establish a "sunrise" review of any legislation that creates new occupational licenses, with a focus on creating only those needed for job growth.

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  • ironic
    i just find it ironic that with all the regulations that are in place when a major corporation screws up democrats cry for additional regulations that punish the small competitors that did nothing wrong in the first place. This then in the end benefits the large firm as it prevents the smaller competitors from gaining traction and growing. These huge abnormally large banks such as fannie and freddie get to be so large because they continue to grow because of less competition because more regulation prevent competition. These superbanks gain political power while the regulations in place that try to prevent fraud only create a barrier of entry for smaller competitors. I use banks as an example but this goes for all small business trying to compete with large business.
  • Blue Sky Campaign
    Why is Mike Pence running such a blue sky/populist campaign? His commercials about ice skating and flooded homes say nothing about how he will govern. Due to his congressional record and his social issue near obsession, he needs to give me some definitive information if he wants to convince this life long conservative voter he's the man for the job
  • oversimplification
    Typical politician catering to masses with a simple message that "all regulation is bad" How fast do we forget what led or at least greatly contributed to this recession? It certainly was not a result of too much regulation. Not to mention what was it like before Securities Act of 1933 & 1934. Sure, in an ideal world, we would have a perfect balance, but saying that world was better before SEC or EPA is beyond ridiculous.
  • to Tom
    i agree that there are some regulation needed....very little though. There's always going to be corporations or business that don't play by what is 'right thing to do'. its the thinking that huge regulation leads to eliminating corporate greed that is messed up. All the regulations do is give people like yourself the assumption that companies are playing by the rules when in fact all they do is prevent companies from being caught sooner, create huge amounts of paperwork and bureaucracy that is expensive and time consuming. The ponzi scheme with Madoff went on as long as it did because people believed that huge returns year after year were legit because the SEC had regulation in place that were looking out for them. We find out that these didn't work and now the government wants more regualtion. Eliminating the unnecessary regulation and bureaucracy with only help small business thrive and when large companies go bad their true colors will show quicker. Small companies can spend their money on employees and growing the business instead of government employees shuffling paperwork and creating a new set of rules to regulate the previous set of rules.
  • Why do we need regulations?
    Why do we need regulations? Because Corporate America too often isn't a good citizen, looking to abuse citizens, take advantage of the weak, the poor, the disenfranchised, destroy the environment for a dollar. If the corporate leaders were more respectful and responsible then we wouldn't need the regulation. Fat chance that would happen. Pence is taking a page from Florida Gov Rick Scott's playbook... Scott has less than 30% approval....
    • he's right
      the biggest issue in all levels of government is constantly increasing regulation. people have no idea how much it limits business growth. people think the SEC regulates illegal activity. all it does is give people a false sense of security while in prohibits growth of the 99% who want to grow their business and do things the right way. Someone want to start a business such as a restaurant, good luck going through yeas of regulation created by democrats. enough with the regulations that just waste time, money, and create roadblocks for legitimate business growth.
    • Really?
      Your first real idea and it is a bad one. We need better regulations, not less. First, does this mean that if a designer drug is developed a regulation can not stop the sale? Why not get rid of the gas tax which effects every hoosier, or reinstate the inheratance tax and give any small business (six employees or less) a total tax abatement on all taxes. Or, lower the unemployment tax that effects all small businesses. C'mon Mike you can come up with any idea the can help our state. I sometimes you just like to hear yourself talk.

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