Tracey Mann: “Every year, small businesses spend nearly $15,000 per employee to comply with Federal laws. American companies spend…”

“Every year, small businesses spend nearly $15,000 per employee to comply with Federal laws. American companies spend over $3 trillion a year on compliance. I am sure this is not a shock to anyone in this Chamber, but we know that some of that cost gets passed on to consumers. The Competitive Enterprise Institute estimates that U.S. households absorb $16,000 annually in hidden regulatory fees and taxes. For many families in the Big First District of Kansas, that money could be used much better elsewhere. When this Republican majority was elected last year, the country trusted us to roll back burdensome regulations and lower costs. This week, we have an opportunity to do so. The small businesses that make up the Big First are often small, family-owned and -operated mom-and-pop shops. They don't manage or run their small businesses to be billionaires or to become ultrawealthy. Their goals are to serve their communities, meet a need, and serve their neighbors well. That is what they should be empowered to do, but sadly, that is not their reality. Everyday Americans are forced to bear the brunt of that regulatory cost.”