Federal Regulations Burden Small Businessesby Representative Glenn Thompson
Posted on 2015-02-05
THOMPSON of Pennsylvania asked and was given permission to
address the House for 1 minute and to revise and extend his remarks.)
Mr. THOMPSON of Pennsylvania. Mr. Speaker, small businesses, the
backbone of our economy, continue to be unfairly saddled by one-size-
fits-all regulations. Most small businesses do not have the capacity to
retain in-house legal or compliance departments, and unfortunately,
many agencies often neglect their duties of assessing how new
regulations may impact small businesses. There is also a pattern of
Federal agencies providing inadequate analyses of the long-term
economic costs of the rules that they propose.
Despite the President's promise in January of 2011 to ``eliminate excessive and unjustified burdens on small businesses,'' very little has been done by this administration.
Yesterday, the House passed H.R. 50, the Unfunded Mandates Information and Transparency Act of 2015, which would require greater transparency of the Federal Government costs associated with unfunded mandates. I joined my colleagues on both sides of the aisle to approve a commonsense solution to reducing cost by improving transparency, awareness, and accountability in our Federal agencies. Just moments ago, the House passed H.R. 527, which would require better economic analyses of direct and indirect costs on small businesses.
I thank my colleagues in both parties for supporting these commonsense reforms.