The legislation protects small businesses from burdensome regulations

NFIB sends letter in support of the Small Business Regulatory Flexibility Improvements Act

WASHINGTON, DC (June 28, 2024) – National Federation of Independent Business (NFIB)the nation’s leading small business advocacy organization sent members of Congress a letter of support for HR 358, Small Business Regulatory Flexibility Improvement Act (SBRFIA). The legislation ensures that federal agencies fully consider the impact of regulations on small businesses. In particular, H.R. 358 focuses on eliminating regulatory loopholes Regulatory Flexibility Act (RFA).

“Small businesses have been inundated with a tsunami of new regulatory burdens,” he said Josh McLeod, NFIB’s director of federal government relations. “The current regulatory environment is unsustainable for small businesses, but this legislation is a good first step toward reducing burdens on Main Street. The Act on improving the regulatory flexibility of small businesses will ensure that government regulators fully consider the economic impact of regulation. This will help ensure a smarter rulemaking process for small businesses, and the NFIB urges Congress to pass this important legislation.

H.R. 358 specifically expands the Small Business Advocacy Review Panel process, strengthens regulatory review requirements for agencies, and provides the U.S. Small Business Administration’s Office of Advocacy with greater input into agencies’ compliance with the RFA.

The NFIB issued a White Paper on RFA that explored the importance Regulatory Flexibility Act (RFA), the failure of administrative agencies to comply with the RFA, and what today’s Congress can do to revitalize the RFA.