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Let’s Make 2023 the Year of State Deregulation

Let’s Make 2023 the Year of State Deregulation

2023 could be the year red tape loses its grip. As governors across the nation announce their agendas, cutting regulatory red tape has emerged as a key goal in Iowa, Arkansas, Nevada, Virginia, and Ohio. Other states should fully embrace this goal and aim to enact long-lasting reforms that pay off for years to come.

Removing unnecessary regulations is an idea whose time has certainly come. With the national economy facing a downturn, state governors are looking for every opportunity to help struggling businesses remain afloat. One key means of accomplishing this is to carefully evaluate whether the government’s rules are accomplishing their objectives without placing undue burdens on businesses.

By some estimates, federal regulations impose nearly $2 trillion in costs on the economy each year. State regulations add even more. The Mercatus Center at George Mason University found that, on average, every state imposes 135,000 restrictions of its own via regulation, on top of existing federal regulations. These state regulatory burdens can quickly add up for businesses and are especially costly to those businesses with a presence in many states.

Read the full commentary at The National Review.