In my column here today, both Sen. Tom Coburn and Sen. Jeff Sessions talked about the deleterious effect that policy uncertainty imposes on the overall economy. Now comes Gary Palmer of the Alabama Policy Institute to reinforce that point:
Members of Congress surely know that uncertainty has a negative effect on the economy. If businesses can’t predict next year’s tax rate, they are unlikely to invest in new equipment or expansion or to hire more workers. Individuals and families are less likely to spend as much for the same reasons.
Adding to the uncertainty is the explosion of new federal regulations on American businesses. Since January 2009, federal agencies have issued 106 major regulations that cost $46 billion per year. In 2009 and 2010 alone, federal agencies issued 7,076 rules…..
This is an important message for conservatives to stress.