WASHINGTON – Senators Mike Braun, Roger Marshall, M.D., Katie Britt, Ted Budd, and Rick Scott introduced the Small Business Regulatory Reduction Act to protect small businesses from the financial burden of top-down federal regulations.
Often, when D.C. imposes regulations, it comes at a significant cost to our locally-owned businesses. In 2022 alone, complying with regulations cost American small businesses an average of $14,700 (adjusted for 2023 dollars) per employee on their payroll. The Small Business Regulatory Reduction Act alleviates these costs and requires the Administration to submit an annual report to Congress outlining the impacts of regulations on small businesses.
“We need to cut burdensome regulations on small businesses in order for Main Street to thrive. I’m proud to join Sen. Marshall on this bill to prevent big government from stacking regulations on top of America’s small businesses without removing any red tape.”—Sen. Braun
“Washington D.C.’s top-down regulatory approach hurts our small businesses – the backbone of our economy – the most. 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. I am proud to join Rep. Beth Van Duyne in fighting for this important legislation that addresses our small businesses’ concerns and stands up to the Administration’s relentless attacks.”—Sen. Marshall
“I’m proud to join my colleagues in introducing this common sense 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. From entrepreneurs just starting out to the established, family-owned shops on local Main Streets across our great state and nation, I will continue to fight tirelessly for small businesses and the families they support.”—Sen. Britt
“The SBA’s fundamental purpose is to empower America’s small businesses, not add regulatory burdens. I’m proud to join Senator Marshall’s commonsense bill to control the regulatory state and help job creators serve their customers.”—Sen. Budd
This legislation is based on the Trump Administration policy that required agencies to repeal two regulations for every new one created. This successful policy was repealed by the Biden Administration in 2021.
Read the full bill here.
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