Striking a Balance Between Small Businesses and Regulations

InsideSources highlights a CEI’s coalition letter to the Senate. 

President Donald Trump has promised to help businesses struggling with burdensome regulations. He has built his presidency on creating opportunities for both business owners and employees. Former President Barack Obama, in contrast, believed the regulations were critical to protecting workers.

Obama instituted several significant changes during his time in office. The National Labor Relations Board changed how union elections are held, how companies can contract together and how workers are classified. The Department of Labor (DOL) tackled policy areas like overtime and federal contracting.

The Competitive Enterprise Institute noted in a coalition letter the labor department alone imposed $55.7 billion in regulatory costs on employers during the last administration. It adds that during that time the gross domestic product only averaged less than two percent while an increased number of people dropped out of the labor market.

Read the full article at InsideSources.