Nelson Mullins Riley & Scarborough

Today the White House released plans by 30 federal agencies to review rules in order to reduce red tape.  The announcement follows the President’s Executive Order of January 18^th that called on agencies to review rules in order to ease regulatory burden that is stifling job growth.  A study conducted by SBA’s Office of Advocacy last year showed that small business disproportionately shoulder the load of over $1.1 trillion in federal regulatory costs.  That hidden tax amounts to a cost of $15,586 per household which is more than 1 ½ times what households pay for medical care.

Efforts by federal agencies to update, streamline, or eliminate federal mandates will be a huge help for small businesses.  Firms with fewer than 20 employees have a cost per employee that is 36% more than their larger business competitors to comply with federal regulatory requirements.

For a complete description, visit www.whitehouse.gov/regulatoryreform