Washington, D.C. – U.S. Senators Katie Britt (R-Ala.), Roger Marshall (R-Kans.), Mike Braun (R-Ind.), Ted Budd (R-N.C.), and Rick Scott (R-Fla.) have introduced the Small Business Regulatory Reduction Act, legislation designed to ease the financial burden of federal regulations on small businesses.
Small businesses often bear the brunt of regulatory compliance costs imposed by Washington, D.C., which can hinder their growth and competitiveness. According to data from 2022 (adjusted for 2023 dollars), American small businesses faced an average cost of $14,700 per employee to comply with regulations. The proposed legislation seeks to mitigate these costs and enhance transparency by mandating an annual report to Congress detailing the impact of regulations on small businesses.
Senator Katie Britt emphasized the importance of supporting small businesses, stating, “I’m proud to join my colleagues in introducing this commonsense legislation to alleviate burdens on small businesses, who already have to contend with persistently high inflation on top of the Biden Administration’s red tape regime.”
Senator Roger Marshall echoed these sentiments, highlighting the detrimental effects of Washington’s regulatory approach on small businesses. He said, “Main Street merchants are constantly under attack from this Administration’s onslaught of regulations and jumping through unnecessary and costly hoops to provide services to our communities.”
The proposed legislation is a response to concerns raised by small businesses across the country. Congresswoman Beth Van Duyne (R-TX-24) introduced similar legislation in the U.S. House of Representatives last year, reflecting bipartisan efforts to address regulatory challenges faced by small businesses.
As the debate over federal regulations continues, the Small Business Regulatory Reduction Act underscores lawmakers’ commitment to supporting small businesses and alleviating regulatory burdens that impede their growth and prosperity.
