Following new reports detailing the burden of regulation on manufacturers and small business owners, WMC’s Scott Manley joins Vicki McKenna to discuss how red tape is harming the economy. Small manufacturers are particularly impacted by regulation.
“The average business in the United States pays almost $13,000 per employee to comply with federal regulation, Manley shared. “For manufacturers, that number jumps to an average of $29,100 per employee. And if you’re a small manufacturer (50 employees or less), then it jumps to $50,100 per employee.”
Manley argues that these regulatory costs are impacting the global economy, making the United States less competitive. The expenses of regulation prohibit employers from raising wages, increasing benefits, expanding their company.