Linda McMahon, administrator of the U.S. Small Business Administration, said Monday that the amount of government regulations is hurting small businesses in America.
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“It is not necessarily any particular regulation as much as it is the volume of regulations,” McMahon told Melissa Francis on “After the Bell.” “And the cost of compliance and the time for compliance—everything is just way too complex than what it needs to be.”
Health care was back in focus at the White House as well Monday, where McMahon, Vice President Mike Pence and Health and Human Services Secretary Tom Price met with female small business owners and discussed issues their companies were facing.
“A lot of them had the same things to say—premiums were too high, the cost of deductibles was too high [and] how health care actually had impacted negatively their business,” said McMahon. “A lot of it was so heartfelt because they always provided, believe it or not, full medical coverage for their employees … and it broke their hearts that they had to look at these people now and say they just couldn’t do it.”