The NAM’s benchmark Cost of Federal Regulations study finds that the total cost of complying with federal regulations in 2022 is an estimated $3.079 trillion (in 2023 dollars),an amount equal to 12% of U.S. GDP and larger than the manufacturing sector’s entire economic output. This regulatory burden threatens the competitiveness of manufacturing in America, chilling manufacturing investment, job creation and wage growth and blunts the positive impacts of tax reform, the Bipartisan Infrastructure Law and the CHIPS and Science Act. With millions of hardworking men and women relying on manufacturing for their livelihoods, the stakes are high. It's crucial we address this issue—for the sake of manufacturers, our workers and the nation.
In 2022, manufacturers faced stiffer regulatory hurdles compared to similarly sized peers in the economy at-large. The disparity is particularly acute for small manufacturers.
Survey of Manufacturers: What Would You Do with Funds Currently Allocated to Federal Regulatory Compliance?
Manufacturers would spend 86% of funds currently spent on compliance on reinvesting in their business or employee initiatives if given the choice.
Manufacturers for Sensible Regulations
The National Association of Manufacturers, members of the NAM’s Council of Manufacturing Associations and Conference of State Manufacturers Associations launched Manufacturers for Sensible Regulations to address the impact of the current regulatory onslaught coming from federal agencies. To ensure manufacturers remain competitive, we are calling on the White House to designate a senior-level adviser to coordinate efforts within the White House to ensure that federal regulators are implementing policies that align with the president’s promise to promote the growth of manufacturing in America.
Manufacturers are using their voices to sound the alarm the increasing federal regulations that continue to threaten the industry and our economy.
As part of our Keeping Us Competitive series, Steve Gullickson, President and CEO of MGK, an insect control company based in Minnesota, addresses the economic risks posed by today’s tightening regulatory field.
The costs of unbalanced regulations impact our workforce, communities and economy.
of manufacturers say increased regulatory burdens make it difficult to create jobs, invest in new equipment and expand facilities.
new regulations from across 30 agencies and offices stifling growth and job creation
of voters surveyed by the NAM agree that small manufacturers bear an unfair burden when faced with excessive regulations
When it comes to our fight for balanced regulations, NAM Ambassadors are using their voices to shape the debate in Washington. From telling their story to hosting a member of Congress, NAM Ambassadors are proven change makers at the core of our Competing to Win campaign. Ready to raise your hand and allow us to help elevate your advocacy? Contact us at [email protected].