Sen. Lankford praised for sensible measure requiring agencies to consider small business in the rulemaking process
FOR IMMEDIATE RELEASE
Andrew Wimer, 202-314-2073 or 703-298-5938 (cell)
Follow NFIB on Twitter @NFIB
Washington, D.C. (March 10, 2017) – The National Federation of Independent Business (NFIB) praised Sen. James Lankford (R-OK) for introducing the Small Business Regulatory Flexibility Improvements Act of 2017. The bill puts into place protections to ensure that federal agencies fully consider the impact of proposed regulations on small business.
In a letter to Sen. Lankford, NFIB President and CEO Juanita Duggan wrote: “The Small Business Regulatory Flexibility Improvements Act is an important piece of legislation that would provide a smarter rulemaking process for American small businesses. We look forward to working with you to enact this important legislation.”
The recently introduced legislation would expand the scope of the Regulatory Flexibility Act (RFA) by including the indirect impact of regulations on small business. The bill also expands the small business advocacy review panel process to all agencies. Currently, only three federal agencies have to follow this process. Finally, the bill expands the standard for periodic review of rules by federal agencies and gives the U.S. Small Business Administration’s Office of Advocacy increased input into agency compliance with the RFA.
Duggan’s letter explained how small businesses are disproportionately harmed by red tape: “In an economy where two-thirds of all net new jobs come from the small business sector, we appreciate that this legislation would require regulators to analyze further the impact of certain proposals on job creation. As you well know, the annual cost of federal regulation per employee is significantly higher for smaller firms than larger firms. Federal regulations – not to mention state and local regulations – add up and significantly increase the cost of starting and running a small business.”