As early as today, Pennsylvania Democrat Paul Kanjorski plans to introduce an amendment that would apply the most onerous Sarbanes-Oxley regulations to the smallest public companies. Supported by House Financial Services Chairman Barney Frank, this amendment to the financial re-regulation bill now moving through the House would inflict millions of dollars in compliance costs upon thousands of companies.

Those companies will still be audited, of course. But Sarbox would subject them to the double whammy that big companies have had to live with at enormous expense—and with no noticeable decline in business fraud. Unable to stop regulatory relief in his own committee, Mr. Frank now believes he can rally enough Democrats to kill it on the floor.

Yesterday, Mr. Obama reminded his audience at the Brookings Institution that small businesses are the “companies that drive innovation, producing 13 times more patents per employee than large companies. And it’s worth remembering, every once in a while a small business becomes a big business—and changes the world.” However, this is happening less and less frequently, due in no small measure to Sarbox.

Every day it feels more like they are purposely trying to destroy the economy.