PARAMUS, N.J. – Today, Monday, June 10, 2019, outside a soon-to-opened Stew Leonard’s, U.S. Congressman Josh Gottheimer (NJ-5) announced that this week he will be introducing two new bipartisan bills to cut federal red tape and outdated bureaucracy to create jobs and spur economic growth – all while protecting what matters most — our air and water, our food, our health and safety, and our families and children. The bipartisan bills are the Regulatory Improvement Act and the Comprehensive Regulatory Review Act.
Gottheimer also shined a spotlight on the best practices in cutting red tape in New Jersey and other states and the costs of unnecessary bureaucracy to jobs and economic growth. Both bipartisan bills will bring these successes to the federal level. Gottheimer joined Mayor LaBarbiera and the third-generation Vice President of Stew Leonard’s who announced 400 new jobs today. Paramus hasn’t raised property taxes in eight years.
New Jersey is currently ranked 49th of all 50 dates in terms of business friendliness. Gottheimer noted this issue stems from New Jersey’s high taxes, which soared even higher after the SALT deduction was gutted; crumbling infrastructure that impacts commutes and hurts productivity; and red tape that’s holding back our businesses, new jobs and projects, and discouraging new investment.
"After speaking with everyone from mom-and-pops to the biggest businesses, New Jersey seems to take the red tape cake. As a result of our state’s layers of bureaucracy, it either takes years of headaches and unnecessary costs to build or locate a business here in New Jersey, or people simply decide to build, locate, or relocate elsewhere, increasingly in states like Pennsylvania, Texas, Florida or North Carolina – costing us jobs and economic opportunity. It could drive you crazy,” said Congressman Josh Gottheimer (NJ-5). “We have many of the same issues at the federal level. Government bureaucracy comes up with new rules that contradict other rules and layers on new ones without actually getting rid of the old, out-of-date ones. Again, I’m the first one to say we need appropriate guard rails to protect our families and communities – but not ones that are added for the sake of it or just to hold up job creation that we need to put food on the table.”
The bipartisan Regulatory Improvement Act, which Gottheimer will be introducing with Representatives Rodney Davis (IL-13), Ron Kind (WI-3), and Ted Yoho (FL-3), creates an independent, bipartisan commission, the Regulatory Improvement Commission, which will review rules that are outdated, duplicative, or in conflict with one another. The Commission will then present its recommendations to Congress for a simple up or down vote, giving ample opportunity to cut tape at the federal level.
The bipartisan Comprehensive Regulatory Review Act, which Gottheimer will be introducing with Representative Barry Loudermilk (GA-11), requires that financial regulations be reviewed at least every seven years, rather than ten. Doing so will help cut bureaucratic red tape, help our economy thrive, and protect consumers.
“Here in Paramus one of the things we pride ourselves on is a very simple saying – either you’re growing or you’re dying. With the implementation of a plan that ensures our businesses are given the tools to remain competitive in the most competitive market, we’ve seen great prosperity,” said Paramus Mayor Rich LaBarbiera. “We’ve ensured that our taxes remain stable, by eliminating red tape, making sure that our master plan fits in with the needs of our businesses, and, most importantly, our residents. As far as red tape, we’ve streamlined our approval process so that business can get done as quickly as possible. What’s this resulted in? Stable taxes and jobs.”
“We are really excited to be partnering with New Jersey and partnering with a lot of local suppliers and farmers. Retail businesses like us are the backbone of the economy, but we understand that regulation is necessary,” said Stew Leonard’s supermarket Vice President Jake Tavello. “As regulation changes based on the needs of the community and the economy, it has to be efficient. So, we are happy to be here today...”