Small Business Groups Praise Lankford’s Small Business Regulatory Bill
OKLAHOMA CITY, OK – On Wednesday, Senator James Lankford introduced a package of regulatory improvement bills, including the Small Business Regulatory Flexibility Improvements Act (S.584), which is co-sponsored by Senators John Hoeven (R-ND); Chuck Grassley (R-IA), chairman of the Judiciary Committee; and Jim Risch (R-ID); chairman of the Small Business Committee. Similar legislation passed the House and is building support in the Senate.
Here is what some small business advocacy groups are saying about the legislation:
“This legislation puts into place strong protections to ensure that federal agencies fully consider the impact of proposed regulations on small businesses. In an economy where two-thirds of all net new jobs come from the small business sector, we appreciate that this legislation would require regulators to analyze further the impact of certain proposals on job creation.” –National Federation of Independent Business President and CEO Juanita Duggan.
“The average small-business owner is spending at least $12,000 annually on regulatory compliance, and nearly one-in-three small businesses spend more than 80 hours each year dealing with federal regulations. Too often, regulators fail to properly analyze the costs of their rules. The Small Business Regulatory Flexibility Improvements Act will take important steps in ensuring regulators do their due diligence in thoroughly analyzing the true costs of their regulations.” -National Small Business Association President and CEO Todd McCracken
The International Franchise Association, representing franchise small business owners, applauds Senator James Lankford (R-Okla.) for introducing a package of regulatory reform bills in response to the growing number of government regulations that unfairly burden America’s small businesses.
“A number of the initiatives of the new Congress will be helpful in attaining the goal of creating more certainty about the business environment. The Small Business Regulatory Flexibility Improvements Act, for example, passed [in the House] as a part of H.R. 5, the Regulatory Accountability Act, requires more careful consideration before new rules and regulations, demands that their impact on small business be considered more specifically, and mandates periodic of rules that significantly impact substantial numbers of small businesses.” -American Enterprise Institute Scholar Stan Veuger,
“… various agencies have ignored the tenets of the Regulatory Flexibility Act, and have implemented regulations that impose unnecessary burdens on small businesses, including dental offices, across this nation. … This legislation would prevent federal agencies from continuing to exploit statutory loopholes and avoid due diligence in the regulatory process by requiring agencies to fully examine proposed regulations to determine potential harms to the small business community. If enacted, this bill would provide much-needed relief to America’s job creators in this time of economic uncertainty. ” -American Dental Associates President Gary L. Roberts and Executive Director Kathleen T. O’Loughlin.