WASHINGTON – Congressman Charles F. Bass (NH-02) supported legislation in the House of Representatives this afternoon that will reduce the excessive and burdensome federal regulations that stifle economic growth among New Hampshire’s and the nation’s top job creators – small businesses.
The Regulatory Flexibility Improvements Act (H.R. 527) passed the House by a vote of 263 to 159 late this afternoon.
“Small businesses across New Hampshire and the nation spend thousands of dollars and huge amounts of time every year to comply with federal regulations that are often times unnecessary, redundant, or confusing. These regulations inhibit economic growth by discouraging small businesses to grow and create new jobs in the process. Today’s legislation will bring greater transparency to the federal regulatory process and eliminate the “one-size-fits-all” regulations that disproportionately affect our nation’s job creators, helping to get people back to work.”
Specifically, the legislation passed today modifies the Regulatory Flexibility Act of 1980 to close loopholes and ensure that federal agencies fully analyze the impact a new regulation would have on small businesses before the agency adopts the regulation. The bill also ensures small businesses have a voice in the regulatory process by enhancing the Small Business Administration’s ability to help shape major rules.
“Bringing more accountability to the federal rulemaking process is a top priority for small businesses, and passing the Regulatory Flexibility Improvements Act is critical to that effort,” said NFIB President and CEO Dan Danner. “Continuing to hamper the country’s biggest job creators with punishing new rules is the last thing government agencies should be doing during these tough economic times. This bill improves transparency and gives small businesses a greater stake in the regulatory process, and I thank Congressman Bass for his vote in support of these common-sense reforms.”
The legislation now awaits action in the Senate.