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Date |
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9/26/2016 |
Press Release |
A Labor Legacy to Remember: Years of Excessive Overregulation |
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A Labor Legacy to Remember: Years of Excessive Overregulation New Study Outlines Cost of Labor Regulations
Washington, D.C. – The National Association of Manufacturers (NAM), Texas Association of Business (TAB) and Texas Association of Manufacturers (TAM) have released a new study that outlines the destructive legacy this administration’s relentless labor regulatory agenda will leave for manufacturers, their employees and the communities in which they live.
Regulations on issues such as contractor blacklisting, employee overtime, silica, union elections and injury and illness reporting will not only result in hundreds of millions of hours of paperwork, but will also come at a price tag of more than $80 billion in compliance costs over the next 10 years.
“This kind of financial burden hinders job growth,” said Cathy DeWitt, TAB Vice President of Governmental Affairs. “Manufacturing is a source of good paying jobs in Texas and growing the manufacturing sector should be a priority. These policies will not foster that growth.”
“The federal government’s recent labor regulations are redundant, expensive and represent yet another example of overreach that makes it harder for manufacturers to grow and create jobs said Tony Bennett, president and CEO of the Texas Association of Manufacturers. “Instead of encouraging investment and economic growth, stifling regulations like these set back our efforts to get Americans back to work.”
“It has been troubling to watch regulation after regulation with major economic costs come from this administration,” said NAM Senior Vice President of Policy and Government Relations Aric Newhouse. “These regulations are making it harder for manufacturers to continue to create jobs and economic opportunity. It is becoming clear that the administration is dismissing the real-world costs while manufacturers are losing valuable hours and money spent complying with these regulations. This study demonstrates the true impact of regulations that are duplicative, complicated and burdensome.
“We understand the need for reasonable regulations and take pride in creating safe workplaces with opportunities for all, but this increasing stream of burdens is not a balanced approach that we need to succeed. Manufacturers want to spend their time and resources hiring new workers or investing in life-improving products, but the billions being spent complying with burdensome regulations makes that goal increasingly difficult to achieve.”
According to the study, recent labor regulations from the administration will cost the following over the next 10 years:
• $81.6 billion in compliance costs
• 155,700 lost jobs
• 411 million hours of paperwork
Key findings include the following:
• The pace of labor rulemaking in the waning months of the Obama presidency will easily exceed that of the previous three two-term presidencies.
• On average, the Obama administration’s Department of Labor finalized nearly twice as many major labor regulations per year than the previous four administrations.
To read the study, click here.
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