Why I Voted Yes on H.R. 527

Statement

I voted "Yes" on H.R. 527, the Small Business Regulatory Flexibility Improvements Act.

In upstate New York it is often small businesses which provide jobs to our families, neighbors and friends, and keep our communities vibrant. Nationwide, small businesses create 63 percent of new private sector jobs and they employ roughly half of all Americans working in the private sector. As someone who built a small business from nothing into a firm that employed hundreds in Upstate, I know just how important these operations are -- but also how challenging they can be to sustain.

For small businesses, complying with federal rules is often a major challenge because they lack the big budgets and lawyers to assist with navigating red tape. For that reason, a 1980 law called the Regulatory Flexibility Act requires federal agencies to look at the economic impact of new regulations on small businesses, and also consider ways to reduce compliance burdens. However, although this law has been in place for nearly three decades, Washington bureaucracies often fail to comply with these important requirements, leading to unnecessarily burdensome regulations that hinder our small businesses.

To address this problem, I cosponsored H.R. 527 which forces agencies to measure both direct and indirect economic effects of regulations on small businesses. It would also eliminate loopholes that allow the IRS to avoid complying with the law. Additionally, H.R. 527 would increase opportunities for small businesses to provide early input on new rules before agencies formally propose them. Finally, the bill would have agencies periodically review existing regulations in an effort to further reduce small business impacts where possible.

I was pleased to support the Small Business Regulatory Flexibility Improvements Act so that all federal agencies dutifully consider how their rules will impact small businesses in New York. Given the importance of small businesses to our nation's economic future, it is vitally important that when government needs to regulate it puts out the smartest rules possible so that we do not unnecessarily burden small employers in our community.

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