In order to create a safe and productive workplace, manufacturers understand the need for reasonable federal regulations. However, excessive overregulation by the current administration will result in $81.6 billion in compliance costs over the next ten years, according to a study released by the National Association of Manufacturers (NAM) today.
On average, the Obama administration’s Department of Labor finalized nearly twice as many major labor regulations per year than the previous four administrations. The NAM study estimates that these duplicative and burdensome regulations will also result in 155,700 lost jobs and 411 million hours of paperwork.
The administration has clearly dismissed the real-world cost of excessive overregulation, which will hinder the manufacturing industry’s ability to provide new job opportunities and invest in innovation and new products for years to come.
The regulations just keep coming. At the current pace of labor rulemaking, the Obama administration will easily exceed that of the previous three two-term presidencies in the remaining months of his presidency.
Tell Congress to take power back from unelected Washington bureaucrats and put an end to a regulatory agenda that is stalling American economic growth.