House Small Business Committee Chairman Sam Graves (R-Mo.) released a statement Sept. 10 that said “it’s time for Washington policies to start working with small businesses for growth, not against them.”
Graves’ comments came in reply to a National Association of Manufacturers (NAM) study released on Sept. 10 that highlights the regulatory burdens confronting small manufacturers.
“Small businesses face record levels of red tape under President Obama’s policies, and America’s small manufacturers can attest that the regulatory burden is a growing problem,” Graves said. “A study showing that federal regulations annually cost $2 trillion should be a wake-up call to this administration. Compliance costs are soaring for small businesses, which often do not have the employee expertise to decipher and handle more government paperwork and other mandates.”
The NAM report found that small businesses spend $11,724 per employee annually to comply with regulations and small manufacturers pay $34,671 per employee.
“Under this burden, the economy cannot sustain the growth needed to restore the good jobs and wages that can put more Americans back on track to budget for educational goals, homes and retirements,” Graves said. “Small manufacturers and the entire economy would benefit from a major course correction away from burdensome government.”