The Hill News

Congress needs to both cut spending and grow the economy to fix our nation’s $14 trillion debt crisis. We have already begun to reduce out-of-control federal spending, but fundamental reforms are necessary to remove the burdensome regulations on businesses.

Regulations are particularly burdensome on our small businesses, due to the complexity of complying with these their countless requirements and mandates. Job-creating small businesses represent 99.7 percent of all employer firms, employ over half of all private sector employees, and have created 64 percent of new jobs over the past 15 years. Yet they are forced to bear a disproportionate share of the more than $1.75 trillion federal regulatory burden. The U.S. Small Business Administration estimates costs of more than $10,000 per employee for firms with fewer than 20 employees in compliance costs alone.

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