Regulation

Manufacturers Slammed by Red Tape

Frankly, you wonder why they don't ship all their work overseas

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US manufacturers are being significantly impacted by the escalating volume of federal regulations, according to a new report from NERA Economic Consulting on behalf of the Manufacturers Alliance for Productivity and Innovation.

The average number of major federal government regulations promulgated under President Obama in the past three years has been twice as many, or 72 per year, than the 36 per-year average promulgated during the Clinton presidency and the 45 per year average under George W. Bush.

The cost of complying with those new regulations — and all other major federal regulations — will reduce the gross domestic product by anywhere from $240 billion to $630 billion in 2012, and also decrease both the value of manufacturing shipments and manufacturing exports this year,