Jay Timmons Testimony on Regulatory Policy

NAM President Testifies On Regulatory Impediments To Job Creation

Federal regulation is estimated to cost more than $1 trillion annually, according to a report by the Small Business Administration’s Office of Advocacy. The study found that United States manufacturing comprised $162 billion of the $648 billion burden of environmental, economic, workplace and tax-compliance regulation. Dollars spent by manufacturers on regulatory compliance with cumbersome or duplicative regulations are dollars not spent on capital investment or hiring new employees in America. The NAM and its members are working to advance a manufacturing regulation system that is focused on real priorities and removes unnecessary impediments to growth. We are engaged on food safety policy, paperwork reduction and centralized regulatory review, as well as other U.S. government regulatory priorities.