Joco Today

U.S. Senator Roger Marshall and U.S. House Representative Beth Van Duyne have introduced the Small Business Regulatory Reduction Act, a legislative effort aimed at easing the regulatory burden on small businesses in the United States. The legislation seeks to address the financial strain that federal regulations impose on these businesses.

According to data from 2022, compliance with federal regulations cost American small businesses an average of $15,133.57 per employee. The proposed act would alleviate these costs by requiring the Administration to submit an annual report to Congress detailing the impact of regulations on small businesses.

Senator Marshall expressed his support for small businesses, stating, “I will always stand with Main Street over Wall Street, and remain laser-focused on supporting our nation’s small businesses.” He emphasized the need for a regulatory environment that allows these businesses to thrive.

Representative Van Duyne highlighted the economic challenges faced by small businesses under current federal policies: “After Biden-Harris imposed more than $1.7 trillion in regulatory costs and inflicted 20% inflation, America’s small businesses are in desperate need of relief.”

Ryan Young from the Competitive Enterprise Institute commented on the necessity of capping regulatory costs for small enterprises: “Capping regulatory costs for small businesses at current levels is an important step towards better regulatory policy.”

Karen Kerrigan, President & CEO of the Small Business & Entrepreneurship Council, supported the legislation's aim to quantify and monitor regulatory costs: “Quantifying these costs on an annual basis...provide[s] a framework that promotes accountability and sensible regulation.”

Nicholas Johns from the National Taxpayers Union praised the bill for minimizing compliance burdens: “This bill...would ensure these burdens are minimized and tallied.”

The proposed legislation has garnered support from various organizations who see it as a step toward reducing unnecessary financial burdens on America's small business sector.