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“A lot of these regulations cost us so much money that it just eats up everything that we have. We have no reserves or anything left, and that makes it hard to stay in business, especially in these economic times when there’s not that much business there.”

Raymond Shaner, Augusta Steel Corporation (Verona, VA)

The Impact of Regulations on Virginia

  • 4,128 regulations could be implemented over the next four years, which would greatly impact the American economy
  • $515 billion is the estimated cost of planned regulations to the economy
  • 555,462 people who work in Virginia’s major industries could be impacted by the tidal wave of regulations
  • $62 billion of Virginia’s gross state product (GSP) could be negatively impacted

In order to help Virginia’s small businesses and overall economy, we need sensible, clear, and fair regulations. This administration should be making sure that every regulation protects American citizens, without harming small businesses. This will help our small businesses hire and invest and ultimately, make America’s economy healthier.

To read more about Virginia’s economy and the potential impact of the regulatory tidal wave on Virginia, click here

*Source: Bureau Of Labor Statistics, Local Area Unemployment Statistics, Accessed 6/28/12
**Source: Bureau of Economic Analysis, GDP by State and Employment Numbers, Accessed 6/28/12