NFIB Applauds Passage of Regulatory Reform Legislation
House Vote Signals Win for Small Business
WASHINGTON, D.C., February 27, 2014 — National Federation of Independent Business (NFIB) President & CEO Dan Danner made the following statement on the passage of NFIB Key Vote H.R. 2804, the All Economic Regulations are Transparent (ALERT) Act:
“NFIB commends members of the House who voted to cut burdensome red tape and provide much-needed flexibility to the federal regulatory system by passing H.R. 2804,” said Danner. “Small businesses are the backbone of our nation’s economy, and their ability to operate efficiently and free of unnecessary regulatory burdens is critical for our country’s economic recovery. We urge the Senate to support small businesses and pass this important legislation.”
H.R. 2804 would strengthen the regulatory process by requiring agencies to thoroughly analyze the economic impact their rules have on small businesses. In particular, the legislation would expand the Small Business Advocacy Review Panel process, whereby agencies can learn how their regulations will practically affect small entities. It would also give the Office of Advocacy the authority it needs to establish standards for “regulatory flexibility analysis.”
The legislation would also improve the accuracy of benefit-cost analysis by requiring agencies to consider the indirect impact of regulations on small business. Finally, the legislation’s would require agencies to issue an advance notice of proposed rulemaking whenever an agency expects a rule to have a major economic impact.
NFIB will continue to work through its coalition, Small Businesses for Sensible Regulations, in an effort to protect small businesses and American jobs from the impact of regulations.