Boosting Small Business Should Be “Topic A” At First Presidential Debate
NFIB Urges Obama &Romney To Focus on Job-Killing Tidal Wave of Federal Regulation
(DENVER)– As the first Presidential Debate approaches, leaders of Colorado’s small business community are urging both candidates to state clearly their vision for addressing the real and escalating burdens being placed on job creators in our state and across the country.
“Small business faces a daily one-two punch of ever-growing federal regulations combined with uncertainty surrounding taxesand our nation’s economic future,” said Tony Gagliardi, Colorado state director of the National Federation ofIndependent Business (NFIB). “This Denver debate is a prime opportunity for both candidates to show the yunderstand the real-world, bottom-line challenges that needlessly burden small business.”
Gagliardi said small business is struggling under a “tidal wave of federal regulation”that is burdening job creators and preventing them from focusing on investing and hiring. He noted federal regulations have grown by more than 11,000 pages since 2009 – and that4,100 additional regulations that would cost American business an additional $500 billion are now in the pipeline in Washington.
“These mushrooming regulations are hurting job creation and trampling on economic growth,”Gagliardi said. “We hear from our members constantly about the millstone that needless regulations place on our economic future. Washington needs to stop inventing new regulations and needs to simply do a better job enforcing regulations that are already on the books.
“That’s what we hope will be discussed in detail in Wednesday’s debate. We, and small business owners throughout America, will be watching and listening.”
NFIB-CO is part of a nine-state education campaign focused on elevating the stories of its small business members in the media and through local events to educate the public about the impacts these regulations could impose on small business growth. In addition to Colorado, the states include Florida, Iowa, Missouri,North Carolina, Nevada, Ohio, Pennsylvania, and Virginia.
Because of the current regulations in the pipeline, Colorado could see an impact on major industries–like manufacturing, construction and others – that collectively employ 335,562people and contribute $40.5 billion to the state economy annually.
NFIB’sanalysis can be accessed here: http://stopthetidalwave.org
Last year, Small Businesses for Sensible Regulations along with the National Federation of Independent Businesses sent an open letter to President Obama proposing five commonsense principles to help reform the regulatory system. They include: giving small businesses a greater voice in the federal regulatory process; providing assistance to small businesses before assessing penalties; requiring major federal rules to undergo rigorous cost-benefit analysis; basing regulatory decisions only on objective, validated science; and requiring more transparency and accountability in the regulatory process.