Local businesses complain about too many regulations coming out - 21 News Now, More Local News for Youngstown, Ohio -

Local businesses complain about too many regulations coming out of Washington


YOUNGSTOWN, Ohio - Several small businesses in the Valley are speaking out against what they call a "tidal wave of proposed regulations" coming out of Washington.

They say that the regulations will ultimately hurt economic growth.

There are currently 4,200 pending regulations coming out of Washington, more than 800 would directly impact small businesses in Ohio.

In order for those business owners to implement the changes, The National Federation of Independent Business estimates they will spend 360 percent more than a larger business simply because it takes more effort.

"You don't necessarily have a compliance department that deals with these things. So when a new regulation comes around that affects you, you have to understand how that's impacting you and that takes time, resources, energy to do that," said Jacob Larger with The National Federation of Independent Business.

Expressing their frustration, local business owners met at City Machine Technologies, Inc. The Youngstown business, that repairs machinery, is just one of several that feel burdened by the increased regulations.

The company's vice president says the impact is not only direct, but indirect. Because of regulations placed on some of their major customers, they say their own business has in turn become much more uncertain.

"When you keep increasing all these prices, our sales aren't increasing with the cost of regulations that we need to implement and health care and all the taxes, so we're just looking for a brake somewhere and a helping hand, " said Claudia Kovach with City Machine Technologies, Inc.

One solution proposed is already taking place here in Ohio.

Last year, the lieutenant governor's office passed a common sense initiative requiring each regulation to undergo a cost benefit analysis.

"They have to say okay, it's going to cost us "X" amount of dollars for "Y" amount of benefit. Is that really something we want to place on the business community in order to produce that benefit?" said Larger said.

A coalition has been launched to help ensure government regulations don't cost American jobs or slow the economic recovery. To date, more than 1,000 businesses have joined.

  • More From wfmj.comMore>>

  • As US economy accelerates, Fed remains cautious

    As US economy accelerates, Fed remains cautious

    Thursday, July 31 2014 7:39 AM EDT2014-07-31 11:39:42 GMT
    After a dismal winter, the U.S. economy sprang back to life in the April-June quarter, growing at a fast 4 percent annual rate on the strength of higher consumer and business spending.More >>
    After a grim start to 2014, the U.S. economy has rebounded with vigor and should show renewed strength into next year.More >>
  • Deadly Israeli strikes hit UN school, market area

    Deadly Israeli strikes hit UN school, market area

    Wednesday, July 30 2014 8:26 PM EDT2014-07-31 00:26:47 GMT
    A Palestinian health official says 13 people were killed after tank shells hit a U.N. school in Gaza where hundreds of Palestinians had taken refuge from Israeli attacks.More >>
    Israeli artillery shells tore through the walls of a U.N. school crowded with sleeping war refugees and back-to-back explosions rocked a market filled with shoppers Wednesday as Israel's stepped up campaign against...More >>
  • Suing Obama: GOP-led House gives the go-ahead

    Suing Obama: GOP-led House gives the go-ahead

    Wednesday, July 30 2014 7:49 PM EDT2014-07-30 23:49:43 GMT
    Republicans are ready to muscle legislation through the House authorizing an election-year lawsuit against President Barack Obama that accuses him of exceeding his powers in enforcing his health care law.More >>
    A sharply divided House approved a Republican plan Wednesday to launch a campaign-season lawsuit against President Barack Obama, accusing him of exceeding the bounds of his constitutional authority. Obama and other...More >>
Powered by WorldNow
All content © Copyright 2000 - 2014 Worldnow and WFMJ. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms