Blog Post - The Burden of RegulationAugust 23 2012
In yesterday’s edition of the Washington Post, a recent manufacturing industry report was cited which showed “the economic burden of federal regulation in the United States has risen dramatically over the past 20 years, particularly affecting the nation’s manufacturers.”
According to the report, “the average number of major federal regulations — those expected to have an economic impact in excess of $100 million — that have been finalized each year has risen with each recent administration…the regulatory burden on manufacturers has more than doubled over 10 years, growing from about $80 billion in 2001 to more than $164 billion in 2011.”
In addition to the burden on business owners, the effects of regulation are felt by consumers, as well, as some costs of compliance are passed on to them.
While they might not know the specifics of various reports and statistics, the people in my district are well aware of the burden unnecessary and excessive regulations have on our business owners, the job market and consumers.
Recently, a retired small business owner in my district expressed his frustration with excessive government regulation: