CHABOT INTRODUCES SMALL BUSINESS REGULATORY FLEXIBILITY IMPROVEMENTS ACT OF 2015
WASHINGTON – Small Business Committee Chairman Steve Chabot (R-OH) today introduced H.R. 527, the Small Business Regulatory Flexibility Improvements Act of 2015.
“The Small Business Regulatory Flexibility Improvements Act is about making the federal government stop and think about its impact on the millions of American families who operate or work for our small businesses,” said Chairman Chabot. “That’s the heart of good government. The one-size-fits-all approach to federal regulations has, for decades, hit small businesses, their owners, and their employees the hardest. Giving them the voice they deserve helps give our small businesses the freedom they need to provide the jobs and innovation that drive the American economy forward.”
The Small Business Regulatory Flexibility Improvements Act strengthens and modernizes the Regulatory Flexibility Act of 1980 (RFA), which requires agencies to assess the impact of rules and regulations on small business and consider possible alternatives.
In the 35 years since the RFA was enacted, agencies have exploited loopholes to get around the good-government intentions of the original legislation. The Small Business Regulatory Flexibility Improvements Act closes those loopholes by requiring more detailed analysis of proposed regulations, providing greater opportunity for small business input, and ensuring agencies regularly review regulations already on the books for their economic impact on small businesses. Additionally, it expands the scope of the required economic impact analysis to consider those effects which are often indirect but reasonably foreseeable.
The Small Business Regulatory Flexibility Improvements Act of 2015 is currently scheduled for markup by the House Committee on the Judiciary, which holds primary jurisdiction over the federal regulatory process, on Tuesday, January 27, 2015.