Boehner: Impose ban on federal regulations to spur job creation

The top-ranking House Republican told reporters on Friday: “I think having a moratorium on new federal regulations is a great idea.”

Boehner said the ban would send “a wonderful signal to the private sector that they’re going to have some breathing room.” 

Speaker Nancy Pelosi’s office (D-Calif.) blasted the remarks in a blog post published Friday afternoon that said Boehner was siding with special interests. 

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Boehner’s comments come one day after the Senate sent a sweeping overhaul of financial regulations to President Obama’s desk. The Wall Street reform bill is intended to prevent a future financial crisis similar to the one that ushered in an economic recession. 

Boehner and other Republicans immediately called for a repeal of the legislation. They described it as government over-reach and warned it would not prevent taxpayer dollars from being used to help prevent the collapse of systemically important financial companies.

Critics list a lack of regulations on complicated financial instruments as one of the factors that led to the financial crisis, and Pelosi’s office hit back at Boehner on this point by blaming Republicans and former President George W. Bush.

“The Bush-Republican decision to take the referee off the field is what led to the most serious fiscal crisis since the Great Depression,” the Pelosi blog post said.

Republicans have charged Democrats with expanding the government, and argue this has hampered economic growth. They are trying to make this a campaign theme for the fall, when they hope to retake control of the House and Senate. 

Pelosi’s office questioned whether Boehner would support stronger regulations for cribs and bassinets, or rules the require airlines to adopt tarmac delay contingency plans.

Boehner spoke after an hour-long meeting with 20 business group representatives to discuss job creation ideas as part of the Republican’s “America Speaking Out” project.

“I think there’s probably a way to do this with an exemption for emergency regulations that may be needed for some particular agency or another,” Boehner said.

“But if the American people knew there was going to be a moratorium in effect for a year that the federal government wasn’t going to issue thousands more regulations, it would give them some breathing room,” Boehner said.

—This story was posted at 12:10 p.m. and updated at 2:51 p.m.