Submitted by Office of Sen. Mike Braun
Braun
Senators Mike Braun (R-Ind.), Roger Marshall, M.D. (R-Kan.), Katie Britt (R-Ala.), Ted Budd (R-N.C.), and Rick Scott (R-Fla.) recently 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 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,” Sen. Braun said. “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.”
This legislation is based on the Trump Administration policy that required agencies to repeal two regulations for every new one created. This policy was repealed by the Biden Administration in 2021.
Click here to read the full text of the bill.