WTAS: Stakeholders React to Committee on Small Business Report on Agency Compliance with the Regulatory Flexibility Act

Summary

A June 3, 2024 release stating that on May 22, Congressman Roger Williams, Chairman of the House Committee on Small Business, along with the Republican Members of the Committee, released a staff report on the Biden Administration's failure to comply with the Regulatory Flexibility Act (RFA). The release reproduces statements from Gentry Collins of the American Free Enterprise Chamber of Commerce, Rebecca Romero Rainey of the Independent Community Bankers of America, and Jeff Eshelman of the Independent Petroleum Association of America. Its background section says the Committee conducted a 15-month long investigation and cites over $1.6 trillion in regulation cost.

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WTAS: Stakeholders React to Committee on Small Business Report on Agency Compliance with the Regulatory Flexibility Act
Source(print): https://smallbusiness.house.gov/news/documentprint.aspx?DocumentID=406007

WTAS: Stakeholders React to Committee on Small Business Report on Agency Compliance with the Regulatory Flexibility Act 

 smallbusiness.house.gov 

 Cmte Small Business (R) 

 Contact: 

 WTAS: Stakeholders React to Committee on Small Business Report on Agency Compliance with the Regulatory Flexibility Act 

 Washington ,
 June 3, 2024 
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 WASHINGTON, D.C. – On May 22 nd , Congressman Roger Williams (TX-25), Chairman of the House Committee on Small Business, along with the Republican Members of the Committee, released a staff report detailing the Biden Administration’s failure to comply with the Regulatory Flexibility Act (RFA). The following three statements are from industry experts and stakeholders who applauded Chairman Williams and the Committee for releasing this staff report. 
 “ The American Free Enterprise Chamber of Commerce extends its heartfelt gratitude to Chairman Williams and the esteemed members of the Small Business Committee for their diligent investigative work in examining the Regulatory Flexibility Act. Their commitment to ensuring that small businesses are treated fairly is commendable. As an organization dedicated to representing entrepreneurs, innovators, and creators, we advocate tirelessly on behalf of small businesses across the country. Our mission is to foster free, fair, and open markets, recognizing that small businesses are the backbone of our economy. Protecting their interests is of the utmost importance, as they drive economic growth, create jobs, and contribute to vibrant communities. We applaud the Small Business Committee’s efforts and stand ready to collaborate further in advancing policies that empower small businesses and promote economic prosperity for all,” said Gentry Collins, CEO, American Free Enterprise Chamber of Commerce. 
 “ ICBA and the nation’s community banks thank Chairman Williams for publishing this important report on the administration’s noncompliance with the Regulatory Flexibility Act. Amid a surge of new rulemakings, the failure of regulatory agencies to appropriately assess the burden of new regulations hurts community banks and other small businesses in local communities. ICBA continues calling on the administration to ensure federal regulators properly conduct meaningful analysis of proposed rules and their impact on small businesses, as required by the RFA,” said Rebecca Romero Rainey, President & CEO, Independent Community Bankers of America. 
 “IPAA applauds Chairman Williams and the Small Business Committee for their investigative work in examining the Regulatory Flexibility Act to ensure small businesses are treated fairly. IPAA's average member company employs just 20 people, making every regulatory action that increases manhours for compliance have an acute impact. The findings in the report were eye-opening and IPAA is grateful for the work of the Small Business Committee to protect our small business members,” said Jeff Eshelman, President & CEO, Independent Petroleum Association of America. 
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 Background: 
 The House Committee on Small Business conducted a 15-month long investigation into the Biden Administration’s failure to comply with the RFA. From day one, the Administration released an onslaught of regulations on Main Street. The numbers are staggering: over $1.6 trillion in regulation cost and over $290 million paperwork hours. While the report has been released, this does not signal the end of the Committee’s focus on this issue. With Chairman Williams at the helm, the Committee remains committed to ensuring that small firms across the country are not burdened with duplicative and unnecessary rules and regulations that hamper their ability to compete in the marketplace. The Committee hopes the Administration will alter its course and rescind the rules discussed in the report. 
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