The National Federation of Independent Business today applauded Rep. Bob Goodlatte for introducing H.R. 185, the Regulatory Accountability Act.
“Too often, bureaucrats and politicians impose regulations without given a lot or any thought to how it might affect small businesses financially,” said Nicole Riley, state director of NFIB/Virginia, the commonwealth’s leading small-business association. “Congressman Goodlatte’s legislation would go a long way towards fixing that,” she said.
“Small-business owners support this regulatory reform legislation because it requires agencies to estimate both the direct and indirect cost of regulations on the economy,” said Dan Bosch, NFIB manager of Regulatory Policy.
“Since regulations disproportionately impact small companies, allowing the public to see the entire impact of a rule is critical to add transparency to the rulemaking process.”
Specifically, the legislation would increase public participation in shaping the most costly regulations before they are proposed; require that agencies must choose the least costly option unless they can demonstrate a need to protect public health, safety, or welfare; and provide for on-the-record administrative hearings for the most costly regulations to insure that agency data is well tested and reviewed. In short, it would help ensure that federal agencies produce sensible regulations.
“This legislation makes the regulatory process more transparent, agencies more accountable, and regulations more cost-effective,” Bosch said. “Reforming the regulatory process is a priority for NFIB and we hope the House moves this legislation forward and protects small businesses on Main Street.”
NFIB has long advocated for reforms to the bloated regulatory process – garnering bipartisan support dating back to the Clinton administration. By promoting greater public participation in the regulatory process, agencies can better embody the principles of fairness and transparency in rulemaking.