NFIB members know all too well that excessive regulations stifle the small business economy that’s otherwise ripe with potential. Thankfully, President Trump continues to make progress on his goal of relieving regulatory burdens.
On February 24, Trump issued an executive order that will help expedite action on a previous order requiring each agency to identify two regulations to repeal for every new regulation it proposes. The new executive order, Enforcing the Regulatory Reform Agenda, requires regulatory agencies to designate an official to serve as a Regulatory Reform Officer. This official will implement initiatives and policies to ensure that agencies carry out regulatory reforms desired by the Trump Administration.
The order also requires agencies to establish Regulatory Reform Task Forces. These task forces will identify existing regulations that can be repealed, replaced, or modified.
NFIB WANTS TO HEAR FROM YOU: Tell us how excessive regulations have affected your business >>
In addition to clamping down on excessive regulations, this order gives small business a seat at the table when these regulatory decisions are made. Section 3(e) of the order requires each agency Regulatory Reform Task Force to consult various types of entities, including both “small businesses” and “trade associations,” when evaluating and making recommendations for repeal, replacement, or modification of existing regulations. You can count on NFIB to be the voice of small business in those discussions.
NFIB members have long called for regulatory relief. According to the most recent NFIB Small Business Problems and Priorities survey, “unreasonable government regulations” is currently the second-biggest issue facing small businesses (with “cost of health insurance” in the first spot). NFIB recently testified before Congress on the impact of regulations on small business and will stay active in this process to ensure that agencies provide relief from the most problematic regulations for small businesses.