Unlike most politicians in Washington, D.C., Sens. Mike Braun and Todd Young and Rep. Jim Banks know what it takes to run a business, create wealth and employ hundreds of workers. Unlike so many, they know the crushing regulatory burden that unelected bureaucrats can impose on small businesses across the Hoosier state.
Thankfully, during their time in D.C., they have proven they can stand up to corrupt politicians and will fight wasteful spending, burdensome regulations and ensure our state has the voice it needs to fight the liberal onslaught of the Biden administration.
In the coming weeks, liberals will stop at nothing to advance their so-called “Build Back Better” agenda, which just sounds like, “The Era of Big Government is Back and Better than Ever” to most in Indiana. The pending “American Jobs Plan” and “American Families Plan” will be filled with billions of dollars in wasteful pork and big-government regulations. Democrats even admit it and have brought back pork barrel spending to reward their favored constituencies.
What will Indiana get out of all of this? Likely just the bill and countless other bills for our children and their grandchildren. Hoosiers should be especially worried about new regulations sneaking their way into big legislative bills.
Consider what President Barack Obama managed to pass through the Affordable Care Act and Dodd-Frank when he had control of Congress.
Both bills imposed tens of billions of dollars in regulatory burdens, according to research from the American Action Forum. The “Jobs” and “Families” plans are perfect opportunities for Democrats in Congress and unscrupulous Republicans to sneak in costly regulations and massive new spending hikes.
COVID-19 ravaged small businesses across Indiana and across the nation. They can ill afford more regulation at a time when most on Wall Street are raking in record profits.
Consider, there are more than 600 small banks and 100 credit unions in Indiana that could be subject to regulations Congress adopts in the coming months. How many lives and livelihoods would be affected in that one industry? Who will stand up for them in Congress?
During the past two years alone, the small financial industry has witnessed about 250 mergers or acquisitions a year. That's roughly one consolidation for every business day and affects small and rural communities across the U.S.
There is no good argument that regulations from D.C., many of which apply equally to both large and small financial institutions, are helping small banks and credit unions make ends meet. These new rules merely give larger players an advantage and make many small communities worse off as a result.
Let's be clear: The next 18 months are likely to be unpleasant for conservatives and Indiana. President Joe Biden has almost unchecked power in Congress and he's already started installing his regulators and liberal judges. While there will be some areas of common ground with Young, Braun, Banks and the administration, our representatives will need to fight for Indiana to reject record tax hikes, burdensome regulations, and work toward the common goal of helping small businesses and everyday consumers.
Democrats in D.C. are starting to say the quiet part out loud now. Although they tried to talk a big game on bipartisanship and “reaching across the aisle” to Republicans, now they're just reaching into our pockets for more. Ready to spend like mad and regulate every aspect of your life, we desperately need Braun, Young and Banks as our voice in Washington. Nothing less than our small businesses, our wallets, our children and our future are at stake.
Republican Martin Carbaugh represents Indiana House District 81 in Fort Wayne.