The National Association of Manufacturers' (NAM) updated report reveals that U.S. regulatory compliance costs reached $3.079 trillion in 2022, averaging $277,000 annually per typical firm. Per-employee costs for the average U.S. firm are nearly $13,000, representing 19% of payroll expenditures. Small businesses, especially in manufacturing (under 50 employees), face a substantial burden, with an average per-employee cost of $50,100. The absence of official tallies and acknowledgment of regulatory costs underscores the need for regulatory liberalization and comprehensive assessments. The Biden administration's prolific regulatory output in 2023 may necessitate Congress's intervention for reforms, with small business regulatory challenges historically driving significant changes. The 2024–2025 policy debates should prioritize regulatory burdens and reform.