NFIB’s Rob Smith spoke about the impact overregulation has on Main Street businesses.
Washington DC (May 22, 2024) – Rob Smith, Senior Attorney, NFIB Small Business Legal CenterMr. Smith testified to the U.S. House of Representatives Small Business Committee during a hearing titled “Onerous Regulation: Examining the Biden Administration’s Lack of Care for Small Businesses.” Mr. Smith spoke about the economic and negative effects of government regulation and bureaucracy on small businesses.
Mr. Smith testified:
“The RFA was intended to address the disproportionate impact of federal regulation on small businesses. Unfortunately, it is no longer effective in achieving this goal. , figured out how to take advantage of loopholes and create an incomplete cost analysis.
“The important thing to remember about overregulation is that small business owners do not suffer from new regulation in isolation; the burden of new regulation overlaps with existing regulatory requirements and becomes unbearable. The reality is that the current cumbersome regulatory path is unsustainable and something has to be made.
“Small businesses are turning to this organization for assistance in strengthening the RFA, ensuring agency compliance, and easing the regulatory burdens they face. They need relief, and they need relief now. Certification under the 2024 Act That would be a good first step. ”
According to NFIB research, small business owners consistently cite “unreasonable government regulations” as their top operational concern. NFIB has consistently supported measures to address the regulatory burdens facing Main Streets across the country. act of provingThe aim was to rectify the loophole. Regulatory Flexibility Act (RFA) to reduce hassle for small businesses.
Mr. Smith previously wrote a white paper on RFA, examining its importance. Regulatory Flexibility Act (RFA), the lack of compliance with the RFA by the executive branch, and what Congress can do today to revitalize the RFA.
Read Mr. Smith’s full testimony here. Please see the details of the public hearing here.
