A report by the National Association of Manufacturers found the annual regulatory cost per employee for manufacturers is more than double the economy-wide average.
The growing cost of federal regulations is weighing heavily on the manufacturing industry, with smaller firms bearing a burden that’s estimated to cost over $50,000 per employee per year according to a new study. The National Association of Manufacturers released a report Wednesday about the cost of federal regulations to the U.S. economy, manufacturing and small business that found the total cost of federal regulations across the economy in 2022 was nearly $3.
We knew it was becoming more burdensome based on what we were hearing from our manufacturing members, but frankly we were even startled at the growth and the cost of regulations and regulatory compliance for manufacturers," NAM President Jay Timmons told FOX Business.
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