Small Business Applauds Effort to Stop Midnight Regulations

Date: January 28, 2016 Last Edit: February 04, 2016

NFIB Asks for Critical Details About How Agencies Will be Forced to Comply

For Immediate Release
Andrew Wimer, 202-314-2073 or 703-298-5938 (cell)
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Washington,
DC (January 28, 2016)
– Small businesses are concerned about a possible deluge of
last minute rules and regulations during the last year of the Obama
administration. The National Federation
of Independent Business (NFIB)
is grateful that Office of Information and
Regulatory Affairs has put government agencies on notice that they should seek
timely approval for new rules, avoiding so-called “midnight regulations.” NFIB
has sent a letter requesting further details about how OIRA will hold agencies
accountable on midnight rulemaking.

“It’s
great that the Obama administration is thinking about the need to prevent
sloppy, last minute rulemaking,” said Dan
Bosch, NFIB Senior Manager of Regulatory Policy
. “Small businesses are
especially burdened by new red tape. It is critical that the impact of new regulations
on them is carefully considered before new rules are approved.”

The
task of complying with regulations often falls to the small business owner,
preventing them from concentrating on operating and growing their firm. Regulatory
costs are proportionally greater for small businesses rather than larger ones.
Economic analysis from Lafayette College economists Crain and Crain in 2014
found that, small businesses spend nearly $12,000 per employee per year to
comply with federal regulations, 30 percent more than it costs large companies.

“NFIB
is carefully monitoring the development of rules that could affect our
members,” said Bosch. “The administration has now made a commitment to careful
regulation and we intend to hold them accountable for keeping to their own
goals.”

A
copy of the NFIB letter to the Office of Information and Regulatory Affairs is here.

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