The U.S. Chamber of Commerce believes that comprehensive regulatory reform will give businesses the confidence they need to invest in their companies and create new jobs.
- The average regulatory cost for each employee of a small business exceeds $10,000 per year.
- Businesses with fewer than 20 employees incur regulatory costs 42% higher than larger businesses of up to 500 employees.
- The number of the costliest rules (generally those with a $100 million annual economic impact) has increased by more than 60 percent in just a decade (2002-2012), from 136 economically significant rules listed in the government’s regulatory agenda to 224 rules.
- The total number of pages in the Code of Federal Regulations, which lists all regulations, has more than doubled since 1975.
The Chamber’s Plan to Achieve Regulatory Reform
- Simplify, streamline, and increase the transparency of agencies’ rulemaking processes.
- Pursue comprehensive regulatory reform that alleviates the overwhelming and unclear regulations that damage businesses’ confidence, causing them to hesitate before investing and hiring.
- Improve the quality and clarity of regulations coming from Washington and ensure that all rules provide actual benefits rather than just costs.
For more information on how the Chamber is working for regulatory reform, please visit uschamber.com/regulations.
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