NAM STUDY SHOWS COSTS OF REGULATIONS ARE UPWARD OF $2 TRILLION A YEAR.

An opinion piece on “Fox News” Sept. 10 by the National Association of Manufacturers Chief Economist Chad Moutray notes that a recent NAM study shows that “88 percent of manufacturers see regulatory compliance as a top business challenge.” Moutray states that “manufacturers are mostly upbeat,” but also “tentative,” as they continue to wait “anxiously for the economy to finally gain traction” five years after the economic recovery began. He encourages the government to enact “policies that allow our businesses to better compete globally and that help our firms expand their operations and hire more workers.” The NAM study finds that businesses spent $2 trillion in 2012 to comply with federal regulations and that this fell “disproportionately on small businesses, particularly small manufacturers.” He advocates for “smarter regulations that minimize unnecessary burdens and better balance benefits and costs.” Moutray closes by asking policymakers to “look at the larger regulatory landscape before imposing new burdens that will stifle growth and dissuade new investments.” NAM’s full study can be found here.

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