Manufacturers are no stranger to federal regulations. For the past eight years, these costly and burdensome rules have forced manufacturers in the U.S. to spend nearly $35,000 per employee each year just in compliance costs. This makes it harder for American businesses to expand their workforce and maintain their competitiveness in the global economy.
President Trump knows that creating new jobs and spurring business growth are critical to America’s success, and he has already made cutting duplicative and unnecessary regulations a top priority. However, with manufacturers dealing with 297,696 restrictions on their operations from federal regulations, Congress must act immediately to implement smart, pro-growth policies that support regulatory reform.
On May 17, the Senate Committee on Homeland Security and Government Affairs will consider legislation that would boost our regulatory system and reduce the heavy compliance costs manufacturers face every day. Manufacturers urge Congress to support the below bills to eliminate the regulatory burdens that are putting our businesses and economy at risk:
- S. 951, Regulatory Accountability Act of 2017 - Comprehensive reform that requires all agencies to improve public participation, conduct analysis of proposed rules and adopt the most cost-effective regulatory proposal.
- S. 584, Small Business Regulatory Flexibility Improvements Act of 2017 - Requires agencies to thoughtfully consider the impact of their rules on small businesses.
- S. 579, Early Participation in Regulations Act of 2017 – Requires agencies to engage the public before determining how to regulate for major rules.
Our current regulatory system puts our manufacturers and businesses at a great disadvantage. Manufacturers are counting on Congress to implement smart regulatory reform that will not only strengthen the manufacturing industry, but our entire economy as well.