WASHINGTON, D.C. – Today, the House Committee on Small Business is holding a full committee hearing titled “The Golden Age: Unleashing Main Street Through Deregulation.”

Chairman Roger Williams’ opening statement as prepared for delivery:

Welcome to today’s hearing, “The Golden Age: Unleashing Main Street Through Deregulation.”

I want to thank our witnesses for being here today. Many of you have traveled a long way to share your experiences and perspectives, and we deeply value your time and voice.

Today, we will focus on the need to unshackle small businesses from burdensome regulations created by the previous Administration and examine what actions the Trump Administration and Congress are taking to help free small businesses from this red tape. 

Every small business owner knows that regulations limit their ability to grow and succeed. Unfortunately, the Biden Administration has cost American businesses more than $1.8 trillion in additional regulatory costs over the last 4 years.

As a car dealer for more than 50 years, I know firsthand how harmful regulations can be for small businesses and consumers alike.

In the car business, the cost of regulations directly impacts the cost of the car. In fact, regulations could increase the cost of a car by 20 percent.

Emissions regulations and fuel efficiency standards are among the most expensive to comply with, which directly impacts consumers. 

This mountain of red tape is uniquely costly to Main Street. On average, small business owners pay 20 percent more than larger companies to comply with the same regulations.

While these small business owners are experts in their fields, they are not experts in regulatory compliance. Small businesses must dedicate a much more significant portion of their workforce and funds to regulatory compliance, drastically limiting their ability to grow and discouraging the creation of new small businesses.

Despite the serious headwinds small businesses face due to this avalanche of regulations, there is reason for hope.  

The Trump Administration has already made progress in removing some of the most harmful regulations imposed on our nation’s small businesses by the Biden Administration. President Trump’s pro-growth policies have already begun to help our nation’s most prominent job creators thrive.

As a small business owner, I know the consequences of stifling regulations. That is why, in my time as Chairman, one of the top priorities of this Committee has been combatting the red tape that impedes small business success across America.

This Committee is dedicated to creating solutions that will unburden Main Street America, which is what the legislation included in our hearing today intends to address.

I hope our conversation today will further shape these potential solutions. Thank you all again for being here, I look forward to our conversation.

With that, I now recognize the distinguished Ranking Member from New York, Ms. Velázquez for her opening remarks.

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