This bill amends the Regulatory Flexibility Act. Passed in 1980, it required regulatory agencies to assess their impact on small businesses if it is expected to be “substantial.” According to the U.S. Business Administration’s Office of Advocacy, it’s saved small businesses $4.8 billion since it was implemented.
Organizations like the National Federation of Independent Businesses, a lobbying group, hope to see this same kind of savings. They say that small business efforts are still thwarted by the litany of legal work necessary for small businesses to comply with federal law.
Opponents of this bill, however, are frustrated by the term “indirect.” According to organizations like Coalition for Sensible Safeguards and the Center for Effective Government, because the term is so broad, the bill could require infinite analysis of every last detail of a bill— doesn’t, like, everything indirectly affect everything, man? CEG has further concerns with the term “small business” along those lines. In a report issued in 2014, it found that small business review panels are often distorted by big business interests.
Media:Sponsoring Rep. Steve Chabot (R-OH) Addressing The Judiciary Committee
The Washington Post(Photo Credit: Flickr user Angela Radulescu)