Rob Smith, Senior Attorney for NFIB’s Small Business Legal Center, recently addressed the U.S. House Committee on Small Business to discuss the impact of excessive regulations on small businesses. During his testimony, Smith emphasized the need for reform and highlighted the financial strain and negative effects that government regulations and red tape have on Main Street businesses.
Smith conveyed that each new regulation doesn’t impact small business owners in isolation but accumulates and intensifies, creating an unsustainable burden for small businesses to bear. He urged for the strengthening of the Regulatory Flexibility Act (RFA), increased agency compliance with the law, and a reduction in the regulatory burden faced by small businesses.
NFIB’s research has consistently shown that small business owners rank ‘unreasonable government regulations’ as a top concern. In response to this, NFIB has advocated for measures like the Prove It Act, which seeks to address the loopholes in the RFA and alleviate red tape for small businesses. Smith’s previous White Paper on the RFA delved into the importance of the act, the lack of agency compliance, and recommendations for Congress to revitalize the RFA.
For those interested in reading Smith’s full testimony or watching
