Red Tape Reduction and Small Business Job Creation Act

Sponsor: Tim Griffin (R-AR)

Red Tape Reduction and Small Business Job Creation Act - Title I: Regulatory Freeze for Jobs - Regulatory Freeze for Jobs Act of 2012 - (Sec. 102) Prohibits a federal agency from taking any significant regulatory action until the Secretary of Labor reports to the Director of the Office of Management and Budget (OMB) that the Bureau of Labor Statistics (BLS) average of monthly unemployment rates for any quarter is 6% or less. (Sec. 103) Permits an agency to take a significant regulatory action notwithstanding the freeze imposed by this Act if: (1) the President determines by executive order that such action is necessary because of an imminent threat to health or safety or other emergency, for the enforcement of criminal laws, for national security, or to implement an international trade agreement; or (2) the Administrator of the Office of Information and Regulatory Affairs (OIRA) of OMB certifies in writing that such action is limited to repealing an existing rule. Provides for congressional waivers for significant regulatory actions that are not eligible for a presidential waiver but that are necessary to protect the public health, safety, or welfare upon submission of a request by the President.

Government Operations and Politics Topic assigned by the Congressional Research Service.