House Passes Bill Giving Small Business A Greater Voice
HOUSE PASSES BILL GIVING SMALL BUSINESS A GREATER VOICE
WASHINGTON – The U.S. House of Representatives today passed bipartisan legislation to modernize and improve the federal regulatory process. H.R. 527, the Small Business Regulatory Flexibility Improvements Act, strengthens the Regulatory Flexibility Act of 1980 (RFA) to give millions of Americans employed by small businesses the voice they deserve in the regulatory process.
After House passage of the bill, Small Business Committee Chairman Steve Chabot (R-OH), the bill’s primary sponsor, issued followed the statement:
“Half of America’s workforce gets up every day and goes to work at a small business. When poorly designed rules put a financial burden on these workplaces, they also threaten the livelihood of millions of working families.
“H.R. 527 is not a bill that stops regulations; it allows small businesses to be a part of the solution and provide valuable input during the rulemaking process. This bill simply makes government think before it acts by answering, ‘How will this impact America’s working families?’”
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. This measure was introduced by Chabot on January 26, 2015.