Legislation Would Ease Regulatory Impact on Small Businesses
WASHINGTON, D.C. -- The National Retail Federation (NRF) and the National Restaurant Association (NRA) have voiced support for legislation that would require federal agencies to consider the impact on small businesses when establishing rules and regulations.
"This legislation would strengthen the protections for small businesses in the often-asphyxiating federal regulatory process," the two organizations said in a letter to House Small Business Committee Chairman Sam Graves, R-Mo., and Ranking Member Nydia Velazquez, D-N.Y.
"The vast majority of retailers are small, Main Street merchants focused on growth and innovation," NRF President and CEO Matthew Shay said. "This bill could provide an important boost to these small businesses that often get caught up in well-intentioned, but sometimes burdensome and harmful regulations."
H.R. 527, the Regulatory Flexibility Improvements Act of 2011 sponsored by House Judiciary Committee Chairman Lamar Smith, R-Texas, "will be paramount in defending the rights of small businesses," the joint letter said. The bill would give the Small Business Administration's Office of Advocacy more oversight authority and amend the Regulatory Flexibility Act to require federal agencies to consider the economic impact on small businesses when setting regulations.
The legislation was introduced in February after President Obama signed an executive order requiring agencies to review business regulations and streamline or eliminate them where possible. The bill was approved by the Judiciary Committee on July 7 and was scheduled for consideration by the Small Business Committee yesterday.