Poll Finds Public Wants Fewer Business Regulations
The National Federation of Independent Businesses released a poll yesterday that found a wide majority of registered voters think businesses are regulated too much and want reform.
The poll found 56% think there are too many rules on businesses. Sixty-three percent think new rules written in the last five years have "done more to hurt than to
help small businesses." Voters polled would rather see the federal government focus on job creation (74%) than making new regulations (20%).
Former U.S. Senator Blanche Lincoln told The Hill, “There is no doubt that people do negatively react in large numbers to 4,200 new regulations in the pipeline.”
Here are some interesting findings about how those surveyed want the regulatory system reformed:
- 82% favor more accountability and transparency in the regulatory process through independent review.
- 85% favor requiring regulations to have the "least possible burden on the economy."
- 81% favor regulatory actions "based on objective data and hard science."
- 76% favor that every new rule undergo a cost-benefit analysis.
Two pieces of legislation the Chamber backs, the Regulatory Accountability Act and the REINS Act, would address these concerns by making the regulatory process more accountable, transparent, and based on quality data and science. These bills awaiting action in the Senate would address the concerns voters have about how the regulatory state is holding back our economy.