This morning, the Wall Street Journal published, “Red Tape Record Breakers”, analyzing the record number of costly regulations promulgated during President Obama’s administration. Listed below are a few of the more alarming statistics from the Editorial detailing the recent explosion in federal regulations:
• The Code of Federal Regulations hit an all-time high of 174,545 in 2012, an increase of more than 21 percent during the last decade
• Last year, 4,062 regulations were at various stages of implementation from Washington, D.C.
• A recent study from the Competitive Enterprise Institute estimates regulatory costs averaging $14,768 per household, meaning red tape is the second largest item in the typical family budget after housing
As small businesses across America struggle with high levels of unemployment, an increasingly tough economic environment, and burdensome paperwork requirements, the last thing they need is added regulatory uncertainty. The NFIB and the Small Businesses for Sensible Regulations Coalition understands that small businesses are the engine of the U.S. economy, and continues to work to make sure America’s entrepreneurs concerns are heard in Washington and across the country.