Welcomes Introduction of Small Business Regulatory Flexibility Improvements Act
Small Businesses List Regulatory Reform As A Top
D.C., January 26, 2015 — The National Federation
of Independent Business (NFIB) today applauded the introduction of the Small
Business Regulatory Flexibility Improvements Act of 2015.
“Small business owners want government agencies to
fully understand how the regulations they implement impact businesses on Main
Street,” said NFIB Manager of Regulatory
Policy Dan Bosch. “NFIB appreciates Chairman Chabot’s effort to introduce
legislation that would promote greater input from businesses during the
drafting process and thereby produce better regulations.”
This legislation reforms the Regulatory Flexibility
Act (RFA) by requiring government regulators to include the indirect impact in
their assessment of a regulation’s overall impact on small businesses. In
addition, it gives small businesses a greater voice in the rulemaking process
by expanding the small business advocacy review panel process to all agencies
and strengthens several other aspects of the RFA – such as clarifying the
standard for periodic review of rules by federal agencies.
“Regulatory uncertainty is a major concern for small
businesses – directly impacting the ability to plan for future growth. While
regulation is necessary, it should be pragmatic and sensible,” added Bosch.
According to the U.S. Small
Business Administration’s Office of Advocacy, the Regulatory
Flexibility Act saved small businesses at least $4.8 billion in compliance
costs in fiscal year 2014. Strengthening and expanding the RFA would yield even
greater economic benefits to small businesses.
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 issue facing their
small business. NFIB strongly supports this legislation as an important step
toward ensuring that federal regulations do not thwart the ability of small
businesses to innovate and grow.
is the nation’s leading small business advocacy association, with offices in
Washington, D.C. and all 50 state capitals. Founded in 1943 to give
small-business owners a voice in public policy-making, NFIB’s policy positions
are set by its 350,000 business-owner members, who send their views directly to
state and federal lawmakers through NFIB’s unique member-only ballot. NFIB’s
mission is to promote and protect the right of our members to own, operate and
grow their businesses. More information is available online at www.NFIB.com/news.