Business Leader Testifies in Favor of Regulations before Congress
South Carolina Small Business Chamber of Commerce President and CEO Tells Committee that Regulations Enable Innovation and Economic Growth
Washington, DC (April 12, 2016) — With EPA and other regulations gaining increased attention as sources of political controversy, a business leader from South Carolina testified in support of regulations at a Senate committee hearing. Frank Knapp, Jr., President and CEO of the South Carolina Small Business Chamber of Commerce and board co-chair of the American Sustainable Business Council, represented the many business owners and CEOs who believe regulations are vital to a healthy business climate. He will also testify about regulations on Thursday, April 14, before the House Committee on Small Business.
Knapp testified before the Senate Environment and Public Works (EPW) Subcommittee on Waste, Superfund and Oversight Management, at a hearing entitled, “American Small Businesses’ Perspectives on Environmental Protection Agency Regulatory Actions.”
In his testimony Knapp said, “Good regulations tend to stimulate innovation and entrepreneurship in addition to limiting or preventing destructive forms of economic activity. Watch the video of Knapp's testimony.
“For example, well-constructed regulations that encourage alternative energy to reduce carbon dioxide emissions impede the use of fossil fuels, which reduces capital spending and jobs in the fossil fuel industries,” he said. “Alternative energy is much more responsive to technology-driven innovation, and so it provides much better opportunity for sustainable economic growth. In addition, it stimulates much more employment than fossil fuels. Each megawatt of electricity generated by wind and solar employs more people, pays higher salaries, and generates more capital investment than a megawatt of electricity generated from coal.
“In this case, such regulations not only achieve their environmental objectives but also greatly benefit our overall economy compared to the absence of these regulations,” he said.
On Thursday, April 14, Knapp will also testify at a hearing entitled, “Regulation: The Hidden Small Business Tax,” before the House Committee on Small Business. That hearing will start at 10:00 AM in the Rayburn House Office Building, room 2360.
The American Sustainable Business Council www.asbcouncil.org advocates for policy change and informs business owners and the public about the need and opportunities for building a vibrant, sustainable economy. Through its national member network it represents more than 200,000 businesses and more than 325,000 entrepreneurs, executives, managers and investors.
The South Carolina Small Business Chamber of Commerce www.scsbc.org is a statewide advocacy organization with approximate 5000 members. It plays a leadership role in making South Carolina more small business friendly in areas such as taxation, regulation, worker training, energy/conservation and economic development.