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Washington, D.C. – House Majority Leader Kevin McCarthy (CA-23) released the following statement on House passage of H.R. 37, the Promoting Job Creation and Reducing Small Business Burdens Act:

“Excess regulations hurt jobs and put added costs on our economy. The number of regulations that have piled up over the past six years are compounding and holding back Main Street businesses. So I thank Representative Mike Fitzpatrick (PA-08) for putting together a good bill that includes a number of provisions to reduce red tape and makes it easier for small businesses to access the capital they need to grow and create good-paying jobs. These provisions have enjoyed overwhelming bipartisan support in the past, so I am disappointed that a fracture in the Democratic Caucus is causing so many Democrats to switch their votes in a zealous defense of Dodd-Frank regulations.”