A chance to vent about federal regulations
Monday, February 14, 2011
U.S. Rep. Steven C. LaTourette (R-Bainbridge Township) says he
hopes local small businesses will use a new feature on his
congressional website
to share their thoughts on how federal regulations impact their
work.
"The Administration often talks a good game about helping small
business grow and prosper, but I hear from countless small business
owners who say nothing proposed in DC ever truly helps, and they
feel buried in regulations," LaTourette said.
He said local businesses don't object to all regulations, but
there are some that make their heads spin, like a new health care
law provision that requires the filing of a1099 tax form each time
you spend at least $600 with any vendor. LaTourette is asking
local businesses to contact him and share their stories about
coping with regulations and what can be done to help ease the
burden.
"You are in a better position to advocate what could help your
business than a DC-insider who has never had to meet a payroll,
much less wrestle with inventory, manufacturing and distribution
issues, regulations and tax compliance," LaTourette said. "This is
a chance to tell me the unvarnished truth about what works, what
doesn't, and why regulations affect your business in particular.
Please be brutally honest and don't be afraid to share your
opinion."
To share your thoughts, please visit the website and click
the "Job Creators
Speak Out" section on the right side of the page. Clicking the
link will direct you to the American Job Creators website, where
you can submit a detailed response.
LaTourette said a September 2010 report from the Small Business
Administration (SBA) found that "total regulatory costs amount to
$1.75 trillion annually, nearly twice as much as all individual
income taxes collected last year."
LaTourette said the SBA also found that small businesses with
less than 20 employees face costs of nearly $11,000 in federal
regulations each year for each worker they employ. Another
study says 43 major regulations were imposed in Fiscal Year 2010
with an "economic cost of $26.5 billion, the highest total since at
least 1981."