Millions of jobs depend on thriving small businesses, so why would you increase their cost of staying in business and divert resources away from jobs?  Yet, that is just what the Obama Administration proposes day in and day out. Just look at the Administration’s regulatory track record. Over the past five years, the cost of new regulations on the American economy has spiked by $73 billion annually. The Administration has issued a burdensome 157 new major rules, each with economic costs of $100 million or more.

Small business growth can be stifled by excessive bureaucratic rule-writing. Last August, the House passed legislation that would require congressional approval before these costly major rules could go into effect. In February, the House passed the Committee’s legislation to require federal agencies to better assess the impact of new regulations on small companies early in the process. We’re also keeping small firms informed with our Small Biz Reg Watch. Turning back this regulatory tide won’t be easy, but small businesses deserve better.

Sam Graves
Chairman

Latest Committee Action

On Wednesday, the Committee examined Bitcoin adoption by small businesses. In the first Bitcoin hearing in the U.S. House of Representatives, the Committee heard testimony on the potential risks and benefits involved. Bitcoins are a form of virtual currency first introduced in 2008 that allows users to exchange value digitally through the Internet. Despite not being backed by a government or holding any intrinsic value of their own, Bitcoins are growing as an alternative payment system. Testimony provided valuable insight on Bitcoins, their current and future use, and whether small businesses have more to gain or lose by embracing this trend.

Read the reports in the Wall Street Journal and the Washington Post.

News from Washington

On Thursday, the House passed the Save American Workers Act (HR 2575). This legislation would save jobs by repealing the 30-hour definition of a full-time work week in the health care law. Small businesses oppose this definition and know firsthand the damage it is causing. “We have seen the consequences of this full-time definition take hold and none of it is good for our economy,” said Chairman Graves. Read more.

Employers, such as myself, very much want to continue providing quality benefits to our full-time employees, recognizing that a healthy employee is a productive employee. However, many businesses simply cannot afford to provide coverage to workers who average 30 hours per week. – Steven Hermann, Vice President, Paul's Supermarket, Inc., Eldon, MO.

We offer health care options to all full time employees (40 hours per week). The ACA will require us to offer benefits to all 30 hour employees as well as all seasonal employees. Our season is 8-9 months. The reduced headcount limits our manufacturing potential and consequently our sales. – Rebecca Lloyd, small business owner, Oneonta, NY.
 
However, the increased cost of doing business by providing coverage to employees with fluctuating schedules that only occasionally put them into full-time status will leave me no choice but to scale back my expansion plans. – Stephen Bienko, President and Owner, Bienko Enterprises Moving Line, Fairfield, NJ.

• Denver Business Journal: Small-business health exchange signups remain low
• Washington Post: Disturbing trends in small-business hiring
• Wall Street Journal: Small Business Employment Remains Flat for Second Consecutive Month
• Reuters: U.S. insurers fear backlash over new Obamacare rate increases
• Reuters: U.S. small business borrowing slows in February
• Politico:Obamacare in Oregon: A failed exchange
• Reuters: U.S. Trade Gap Widens as Exports Slump

Small Biz Resources