Concerns Mount over 4,100 Regulations Pending in Washington That Could Cost More than Half a Trillion Dollars
WASHINGTON (July 18, 2012) – The next four years could bring a tidal wave of costly federal regulations impacting U.S. businesses and consumers, according to new analysis by the National Federation of Independent Business’ coalition, Small Businesses for Sensible Regulations. There are currently 4,128 federal regulations in the pipeline which, if implemented, will impose costs of more than $515 billion on the U.S. economy.
“With small business confidence at an all-time low, this tidal wave of impending federal regulations is coming at the worst time imaginable, creating more uncertainty for small business owners and further stalling their economic recovery,” said Susan Eckerly, Vice President of Public Policy for the NFIB.
Over the past four years, regulations have cost American businesses and taxpayers more than $138 billion, according to NFIB’s analysis of the Office of Management and Budget’s semi-annual regulatory agenda and a recent report by the Heritage Foundation. NFIB estimates that regulations under consideration in Washington could cost more than a half trillion dollars when implemented, quadrupling the cost of regulations finalized during the previous four years.
NFIB is launching a nine-state education campaign focused on elevating the stories of its small business members in the media and through local events to educate the public about the impacts these regulations could impose on small business growth. States include: Colorado, Florida, Iowa, Missouri, North Carolina, Nevada, Ohio, Pennsylvania, and Virginia.
“The threat of more burdensome regulations is holding back America’s economy. Small businesses continue to call on government leaders to do a better job of reviewing existing regulations instead of passing the buck – and the cost – of new – often duplicative and overly onerous – regulations to small businesses and their customers, ” said Eckerly.
NFIB’s analysis can be accessed here: http://stopthetidalwave.org