The U.S. Small Business Administration has created the Reregulation Strike Force to identify and eliminate, it says, federal regulations that inflate costs for small businesses and consumers.
SBA Administrator Kelly Loeffler said the effort is a direct response to what she called “historic new highs in inflation” under the Biden administration, which she says were driven in part by bureaucratic red tape. The strike force will focus on high-impact industries, including housing, construction, healthcare, agriculture, energy, transportation, and logistics.
The initiative seeks to cut the regulatory burden that small business owners face, including an estimated 356 additional hours of paperwork per job creator due to federal reporting requirements. The SBA estimates that cumulative regulatory costs under the current administration have reached $6 trillion.
To ensure targeted action, the Office of Advocacy within the SBA will collect feedback from small business owners to help prioritize regulations for removal. Notably, the agency argues that the deregulation efforts since the Trump administration have removed nearly $99 billion in federal regulations, benefiting job creators.
While the Deregulation Strike Force promises to reduce administrative burdens, some small business owners may face challenges adapting to changing regulations.
Further, the SBA acknowledged that inconsistencies could arise for companies that have already implemented existing rules, and some owners question whether the initiative will address underlying costs or focus solely on administrative ease.
Loeffler encouraged small businesses to actively participate in the feedback process to identify which regulations they should target for elimination. The initiative aims to foster a business landscape where growth and entrepreneurship can thrive without unnecessary bureaucratic obstacles.
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