Mark Walker , I hope you will support this. And congratulations on the introduction of your first bill. “Small business owners want government agencies to fully understand how the regulations they implement impact businesses on Main Street,” said NFIB Manager of Regulatory Policy Dan Bosch. “NFIB appreciates Chairman Chabot’s effort to introduce legislation that would promote greater input from businesses during the drafting process and thereby produce better regulations.” This legislation reforms the Regulatory Flexibility Act (RFA) by requiring government regulators to include the indirect impact in their assessment of a regulation’s overall impact on small businesses. In addition, it gives small businesses a greater voice in the rulemaking process by expanding the small business advocacy review panel process to all agencies and strengthens several other aspects of the RFA – such as clarifying the standard for periodic review of rules by federal agencies. “Regulatory uncertainty is a major concern for small businesses – directly impacting the ability to plan for future growth. While regulation is necessary, it should be pragmatic and sensible,” added Bosch. According to the U.S. Small Business Administration’s Office of Advocacy, the Regulatory Flexibility Act saved small businesses at least $4.8 billion in compliance costs in fiscal year 2014. Strengthening and expanding the RFA would yield even greater economic benefits to small businesses. In NFIB’s most recent Small Business Economic Trends survey, ‘government requirements and red tape’ ranked as the second-most frequent answer when NFIB members were asked to identify the single most important issue facing their small business. NFIB strongly supports this legislation as an important step toward ensuring that federal regulations do not thwart the ability of small businesses to innovate and grow.
Posted on: Tue, 27 Jan 2015 16:39:14 +0000
Trending Topics
Recently Viewed Topics
© 2015