June 5, 2024 Last Edit: July 29, 2024
NFIB’s Rob Smith spoke to the U.S. House Committee on Small Business about excessive regulations impacting Main Street businesses.
What it means: The Regulatory Flexibility Act (RFA) needs strengthening to stop the onslaught of regulations facing small business owners, which can be achieved by Congress passing the Prove It Act of 2024.
Our take: “Small businesses are looking to this body for help in strengthening the Regulatory Flexibility Act (RFA), ensuring agencies comply with the law, and easing the regulatory burden they face,” said Rob Smith. “They need relief, and they need it fast. Passing the Prove It Act of 2024 would be a good first step.”
NFIB’s Senior Attorney Rob Smith spoke to the U.S. House Committee on Small Business about excessive regulations impacting Main Street businesses. Smith explained how agencies often bypass the Regulatory Flexibility Act (RFA) requirements by conducting inadequate cost analyses and exploiting loopholes to avoid conducting RFA analyses even when rules have significant small business effects.
The Prove It Act aims to remedy the loopholes in the RFA and reduce red tape, helping alleviate regulatory burdens for small business owners. NFIB is advocating that Congress pass the Prove It Act of 2024.
To read or watch Smith’s full testimony, go to the press release here.
Inform your lawmakers about your perspective on regulations.
NFIB is a member-driven organization advocating on behalf of small and independent businesses nationwide.
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