Federal Regulations: Are American Businesses Unduly Burdened?
Published: September 19, 2011 / Author: Amy Bingham
The following is an excerpt from an ABC News article that quotes Paul Schultz, the director of the Center for the Study of Financial Regulation about federal regulations on businesses. To read the entire article visit: Federal Regulations: Are American Businesses Unduly Burdened?.
Whether it’s in a Republican jobs agenda, a presidential executive order or a think tank report, some government regulations have been targeted as unnecessary burdens. And at a time when job creation is the number one goal of most lawmakers, decreasing businesses’ regulatory burden is one way politicians, particularly Republicans, are looking to inspire private businesses to create more jobs.
But despite cries that American businesses are over-regulated and over-burdened, the United States still ranks as one of the best countries to start a business. Worldwide, only Singapore, Hong Kong, New Zealand, and the United Kingdom have a more business friendly environment, according to the 2010 International Finance Corporation and World Bank “Doing Business” report.
Quote from Paul Schultz: “Regulations are costly. That’s always true. And that makes it more difficult to hire people and to conduct your business,” said Paul Schultz, the director of the Center for the Study of Financial Regulation at Notre Dame University’s Mendoza School of Business.