How are excessive regulations hurting the American economy?
Excessive regulations stifle American businesses to the tune of $2 trillion annually, a figure that would make up more than half of the entire federal budget. As a result, the U.S. productivity growth rate has dropped by half the historical rate.
How do excessive or poorly designed regulations impact businesses, especially small businesses?
Government regulations impose huge costs on businesses. The total cost burden on the typical U.S. business is $232,182 – or about $10,000 annually per employee. Small businesses spend ten times more than large businesses to ensure full time employees are in compliance with government regulations.
How does excessive or poorly designed business regulation affect me and my community?
Businesses pass the cost of regulatory compliance onto consumers, impacting everything from consumer goods to insurance to utility bills. American households pay almost $15,000 in average annual regulatory costs. Additionally, since 56 million Americans work for a small business, the cost of regulatory compliance affects every community in America.