Legislation Protects Small Businesses From Burdensome Regulations

Date: June 28, 2024

NFIB sends letter supporting Small Business Regulatory Flexibility Improvements Act

WASHINGTON, D.C. (June 28, 2024) – The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, sent members of Congress a letter of support for H.R. 358, the Small Business Regulatory Flexibility Improvements Act (SBRFIA). The legislation ensures that federal agencies fully consider the impact of regulations on small businesses. Specifically, H.R. 358 focuses on eliminating the loopholes in the Regulatory Flexibility Act (RFA).

“Small businesses have been inundated with a tsunami of new regulatory burdens,” said Josh McLeod, NFIB Director of Federal Government Relations. “The current regulatory environment is not sustainable for small businesses, but this legislation is a good first step in lessening those burdens on Main Street. The Small Business Regulatory Flexibility Improvements Act will ensure government regulators are fully accounting for the economic impact of regulations. This will help provide a smarter rulemaking process for small businesses and NFIB urges Congress to pass this important legislation.”

H.R. 358 specifically expands the small business advocacy review panel process, strengthens the requirements for agencies to review regulations, and gives the U.S. Small Business Administration’s Office of Advocacy increased input into agency compliance with the RFA.

NFIB issued a White Paper on the RFA, which explored the importance of the Regulatory Flexibility Act (RFA), the lack of RFA compliance by administrative agencies, and what today’s Congress can do to reinvigorate the RFA.

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