Pathway Genomics CEO Jim Plante was among the members of a small group of American entrepreneurs and CEOs invited to the United States Capitol this week to participate in a round table discussion with top Congressional leaders about federal regulations and their impact on job growth and the economy. The event, held before a large audience and broadcast live, was part of a continuing effort by the leadership to engage in an ongoing dialogue with innovative job creators in the private sector to find ways to work together to reduce government red tape, help create jobs and boost the economy.
“We probably ought to take a real serious look at how regulators regulate. We have the most adversarial regulatory system in the United States than almost anywhere in the world,” said House Speaker John Boehner. “All of my colleagues are having this event today so that we can better understand the obstacles that are in the way of creating jobs in America.”
During the hourlong conversation, moderated by Chief Deputy Whip Peter Roskam, Plante and the five other CEOs engaged in a wide-ranging discussion with top Congressional leaders about ways to spur the economy and create jobs by reducing government obstacles and providing a regulatory environment that is consistent, fair and collaborative. Congressmen who participated in the forum included Speaker of the House John Boehner, House Majority Leader Eric Cantor, House Majority Whip Kevin McCarthy, and Republican Conference Chair Jeb Hensarling.
Plante described Pathway’s experience with federal regulators, unclear guidance from the FDA, and how that has stifled job growth for the company. “Our company is the source of high-paying clean jobs, as our whole industry is,” explained Plante. “What we’re faced with right now is that we have the opportunity to do a lot of business in the U.S., and we’re getting lots of suggestions from the regulators that they want to impose new regulations. We could have created another 100 jobs last year if the regulators had not suggested they wanted to impose new regulations. And, imposing new regulations will actually increase the cost of these types of tests.”
Congressman Peter Roskam used Pathway as an example of an American company that was directly impacted by the lack of clear federal regulation. “If there was a predictable rule that was coming out from the FDA — if the FDA was, in fact, up to speed on what was going on,” said Roskam, “and you had a sense of predictability, and the mission was actually soundness and safety as it relates to the public health, then there would be 100 new people employed [at Pathway Genomics].”
“As an entrepreneur and small businessman, it was very gratifying to hear firsthand how our leaders in Congress are actively engaged in finding ways to help innovative companies such as Pathway succeed,” continued Plante. “Small business is the economic engine of America, but it can get bogged down when overburdened with unchecked government regulations.”
To read more about the forum, visit http://majorityleader.house.gov.