It’s 2017 and Inauguration Day is right around the corner. Campaign talk is over and manufacturers are ready to see real results under President-elect Trump and the new Congress. If President-elect Trump is serious about creating an environment that promotes growth and job creation in the U.S., manufacturers know a good place to start.
Over the last eight years, manufacturers have faced excessive and unnecessary regulatory burdens. According to a report by the National Association of Manufacturers (NAM), the total cost of federal regulations in 2012 was $2.028 trillion. These regulations disproportionately impact small manufacturers who pay $34,671 in regulatory compliance costs per employee per year. That’s money that should be used to reinvest in the company or hire new employees.
And it’s gotten worse. The current administration has issued 637 new regulations though October 2016—that’s a new regulation every four and a half days. Many of these regulations are duplicative or unnecessary and it’s nearly impossible to comply with the thousands of requirements manufacturers’ face.
President-elect Trump and Congress should act immediately to streamline the regulatory system and review and eliminate outdated and ineffective regulations. Moving forward, independent regulatory agencies must be held accountable through rigorous oversight to improve the quality of rules. Regulations must be approached with a focus on outcome and how they will impact manufacturers’ ability to compete and succeed.
The time for change is now. Sign the petition today to end Washington’s regulatory overreach.