The National Federation of Independent Business (NFIB), the leading small business advocacy organization in the United States, has sent a letter to members of Congress expressing support for H.R. 358, known as the Small Business Regulatory Flexibility Improvements Act (SBRFIA). This legislation aims to ensure that federal agencies fully consider the impact of regulations on small businesses by addressing loopholes in the existing Regulatory Flexibility Act (RFA).
"Small businesses have been inundated with a tsunami of new regulatory burdens," said Josh McLeod, NFIB Director of Federal Government Relations. "The current regulatory environment is not sustainable for small businesses, but this legislation is a good first step in lessening those burdens on Main Street. The Small Business Regulatory Flexibility Improvement Act will ensure government regulators are fully accounting for the economic impact of regulations. This will help provide a smarter rulemaking process for small businesses and NFIB urges Congress to pass this important legislation."
H.R. 358 seeks to expand the small business advocacy review panel process, strengthen requirements for agencies to review regulations, and enhance input from the U.S. Small Business Administration’s Office of Advocacy regarding agency compliance with the RFA.
In addition, NFIB has issued a White Paper examining the significance of the RFA, highlighting non-compliance issues by administrative agencies, and proposing actions Congress can take to reinvigorate the act.
