The president signed an executive order to keep regulations in check. With it, small business' future seems a little brighter.
For small businesses, 2017 may end up being the year the regulatory tide turned.
President Donald Trump signed an executive order on Jan. 30 aimed at easing the burden of regulations.
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The order states that for every one new regulation adopted, two must be identified for elimination. This follows on the heels of White House Chief of Staff Reince Priebus’ regulatory freeze issued last week. Together, the two make for a very lethal weapon against regulatory overreach.
Small businesses are hopeful at the prospect, according to NFIB President and CEO Juanita Duggan.
“According to NFIB research, small business owners rank unreasonable government regulations as their second most important problem,” she said in a statement. “Regulations have been in their top three concerns for 96 consecutive months. The President’s order is a good first step on the long road toward eliminating ball-and-chain regulations so small businesses can create jobs and expand the economy.”
She added that small businesses are “eager to learn more details on President Trump’s initiative.”
NFIB has a long history of working against regulatory overreach. Most recently we’ve sued to overturn the EPA Waters of the U.S. Rule, the EPA Clean Power Plan, and the Department of Labor Overtime Rule. And thanks to our efforts on behalf of small businesses, all three rules currently have stays in place, keeping them from going into effect.
As the Trump administration moves forward on regulatory reform, NFIB will be there. Karen Harned, executive director of the NFIB Small Business Legal Center, recently told the U.S. Senate Committee on Homeland Security and the Government Affairs Subcommittee on Regulatory Affairs and Federal Management: “If lawmakers and the next administration are serious about growing the economy, they’ll fix what is stifling the small business sector: regulations.”
Photo credit: Gage Skidmore