Field Hearing “Tennessee Job Creation: Do Federal Government Regulations Help or Hinder Tennessee’s Economic Development?”

Hearing Date: June 18, 2012 12:00 am

9:00am CST at S102 Business and Aerospace Building, Middle Tennessee State University, 1301 East Main Street, Murfreesboro, TN 37132

We have come to the Volunteer State to hear about the successes and struggles of job creation in Tennessee directly from elected officials and local job creators.  Currently Tennessee’s unemployment rate sits lower than the national average at 7.8 percent, yet the economy continues to suffer, and job creators continue to live in fear of federal regulations and regulators.

The National Federation of Independent Business, headquartered in nearby Nashville, found that “regulations and red tape” is the “single most important problem” for small business.  However, the Obama Administration continues to pile on new rules, adding costs and uncertainty for job creators.

As much as President Obama would like to believe “the private sector is doing fine,” the rest of us know that statement is false.  Having launched the platform at the beginning of last year, this Committee has heard from thousands of job creators about burdensome federal regulations that are killing jobs and stifling growth.

Unfortunately, the “regulatory tsunami” that has swelled in the past three years is not expected to relent anytime soon, thanks in part to Dodd-Frank and Obamacare.  Hundreds of costly new rules are in the pipeline, and America’s job creators are waiting to see what the Administration adopts next.

As we work toward economic recovery, it is crucial for the federal government to understand what Main Street is facing.  I am pleased that Governor Haslam, Senator Alexander, Senator Corker, Commissioner Hagerty, and our distinguished panel of job creators are joining us to discuss this important issue, and I look forward to sharing their stories back in Washington.

Witnesses and testimonies

Name Title Organization Panel Document
The Honorable Bill Haslam Governor State of Tennessee Panel 1 Document
The Honorable Lamar Alexander United States Senate Document
The Honorable Bob Corker United States Senate
Mr. William “Bill” F. Hagerty, IV Commissioner Tennessee Department of Economic and Community Development Document
Mr. H. Grady Payne Chief Executive Officer Conner Industries, Inc. Panel 2 Document
Mr. Scott Cocanougher Chief Executive Officer First Community Bank of Bedford County Document
Mr. Mark Faulkner Owner, Vireo Systems, Inc. on behalf of the National Federation of Independent Business Document
Mr. Bob Bedell Sales Unit Manager, Coca-Cola Bottling Company Consolidated on behalf of the Beverage Association of Tennessee Document