Yesterday, U.S. Representative Stephen Fincher (R-Frog Jump), voted in favor of H.R. 527, the Regulatory Flexibility Improvements Act. The bill is sponsored by Representative Lamar Smith (R-TX) and passed the House 235 to 159. H.R. 527 amends the Regulatory Flexibility Act and the Small Business Regulatory Enforcement Fairness Act to provide consistency in regulatory analysis.
The Regulatory Flexibility Act and the Small Business Regulatory Enforcement Fairness Act both require agencies to prepare an analysis of regulations before they are implemented to assess the effect on small businesses. This process is inconsistent among federal agencies. H.R. 527 will require all agencies to use advocacy review panels, enabling small businesses to be heard before major regulatory burdens are imposed.
Fincher said, "This legislation is similar to a bill I introduced back in June, H.R. 2175, the Regulatory Balance Act, which requires the Secretary of Agriculture, the Administrator of the Environmental Protection Agency, and the Commissioner of the Food and Drug Administration to perform a cost-benefit analysis on any proposed regulation that is determined to be a significant regulatory action."
"With the majority of jobs created by small businesses it only makes sense for Washington to make it easier for their voices to be heard. It's time to get the Federal government off the backs of small business owners and farmers so they can grow and create jobs."