{"id":14083,"date":"2024-06-30T13:46:28","date_gmt":"2024-06-30T13:46:28","guid":{"rendered":"https:\/\/lonecandle.com\/?p=14083"},"modified":"2024-06-30T13:46:28","modified_gmt":"2024-06-30T13:46:28","slug":"american-manufacturers-need-tax-and-regulatory-reform-not-tariffs","status":"publish","type":"post","link":"https:\/\/lonecandle.com\/?p=14083","title":{"rendered":"American Manufacturers Need Tax and Regulatory Reform, Not Tariffs"},"content":{"rendered":"\n<p>&#8220;In a recent&nbsp;<a href=\"https:\/\/clubforgrowthfoundation.org\/freedom-forward\/industrial-headwinds-reducing-the-burden-of-regulations-on-us-manufacturers\/\" target=\"_blank\" rel=\"noreferrer noopener\">paper<\/a>&nbsp;titled &#8220;Industrial Headwinds: Reducing the Burden of Regulations on U.S. Manufacturers,&#8221; published in the May 2024 Club for Growth Policy Handbook, economist Daniel Ikenson writes, &#8220;For manufacturing firms, the cost of federal regulations in 2022 was roughly $350 billion, or 13.5% of the sector&#8217;s GDP\u2014a burden 26% greater than the inflation-adjusted cost of regulatory compliance in 2012.&#8221;<\/p>\n\n\n\n<p>He adds that while the average U.S. company pays a regulatory compliance price of $13,000 per employee, large manufacturers shoulder a cost more than twice as much\u2014$29,100. However, even some small-sized manufacturers face annual compliance costs of $50,100 per employee. This helps explain why manufacturing automation is so popular and why our fastest-growing companies are in service-sector tech, not manufacturing.&#8221;&nbsp;&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-wp-embed is-provider-reason-com wp-block-embed-reason-com\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"sJFCprv0a9\"><a href=\"https:\/\/reason.com\/2024\/05\/23\/american-manufacturers-need-tax-and-regulatory-reform-not-tariffs\/\">American Manufacturers Need Tax and Regulatory Reform, Not Tariffs<\/a><\/blockquote><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;American Manufacturers Need Tax and Regulatory Reform, Not Tariffs&#8221; &#8212; Reason.com\" src=\"https:\/\/reason.com\/2024\/05\/23\/american-manufacturers-need-tax-and-regulatory-reform-not-tariffs\/embed\/#?secret=1hVQtw7sN2#?secret=sJFCprv0a9\" data-secret=\"sJFCprv0a9\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe>\n<\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;In a recent paper titled &#8220;Industrial Headwinds: Reducing the Burden of Regulations on U.S. Manufacturers,&#8221; published in the May 2024 Club for Growth Policy Handbook, economist Daniel Ikenson writes, &#8220;For manufacturing firms, the cost of federal regulations in 2022 was roughly $350 billion, or 13.5% of the sector&#8217;s GDP\u2014a burden 26% greater than the inflation-adjusted cost of regulatory compliance in 2012.&#8221;<\/p>\n<p>He adds that while the average U.S. company pays a regulatory compliance price of $13,000 per employee, large manufacturers shoulder a cost more than twice as much\u2014$29,100. However, even some small-sized manufacturers face annual compliance costs of $50,100 per employee. This helps explain why manufacturing automation is so popular and why our fastest-growing companies are in service-sector tech, not manufacturing.&#8221;  <\/p>\n<p>https:\/\/reason.com\/2024\/05\/23\/american-manufacturers-need-tax-and-regulatory-reform-not-tariffs\/<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[13],"tags":[797,377,36,236,551,208,140,141],"class_list":["post-14083","post","type-post","status-publish","format-standard","hentry","category-article-share","tag-industry","tag-manufacturing","tag-reform","tag-regulation","tag-regulations","tag-tariffs","tag-tax","tag-taxes"],"_links":{"self":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/14083","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14083"}],"version-history":[{"count":1,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/14083\/revisions"}],"predecessor-version":[{"id":14084,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/14083\/revisions\/14084"}],"wp:attachment":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14083"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14083"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14083"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}