Folks who vote for Republican leaders at the national level are barking up the wrong tree if they are doing this to reduce regulation on small business. Much of the regulation of small business comes from local government such as city, county and state. Local rather than national government. Small business is often saddled with various local zoning regulations, fire, health and safety codes, certification for certain professions, building permits and business licenses. Then there's also the many environmental rules for wetlands, farmland preservation, water restrictions and so forth.
There are federal regulations as well, but many of the ones that come to my mind relate to Wall Street. There's federal agencies like the Securities and Exchange Commission as well as federal banking rules. Some of these rules may have been too lax leading up to the 2008 financial crisis. Do we want to deregulate Wall Street more, but still saddle small business with local regulations that are overlooked by national politics?