The National Federation of Independent Business (NFIB) applauded the
House for passing NFIB Key Vote, H.R. 185, the Regulatory Accountability Act.
“NFIB commends members of the House who voted to cut burdensome red tape by
passing this regulatory reform legislation,” said NFIB Vice President of Public
Policy Amanda Austin. “The Regulatory Accountability Act is a priority for
small businesses because it requires agencies to estimate both the direct and
indirect cost of regulations on the economy – which is often overlooked in the
rulemaking process.”
Specifically, the legislation increases public participation in shaping the
most costly regulations before they are proposed; requires that agencies must
choose the least costly option unless they can demonstrate a need to protect
public health, safety, or welfare; and provides for on-the-record
administrative hearings for the most costly regulations to insure that agency data
is well tested and reviewed. It will help federal agencies produce better
regulations.
“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 facing their small
business. By adding transparency and accountability to the regulatory process,
this reform will help ensure that federal agencies produce more sensible
regulations. Regulatory reform is a priority for NFIB and we hope the Senate
takes up similar legislation to protect small businesses on Main Street,” added
Austin.
