Washington, D.C.—Today, Congressman Mike Bost (IL-12), voted to give millions of Americans employed by small businesses a stronger voice in the regulatory process.  Rep. Bost sits on the Committee on Small Business.

 

“Federal regulators are run amuck with thousands of job-killing rules which are impediments to business expansion,” said Rep. Bost.   Small businesses create nearly 4 out of every 5 new jobs in the economy.  However, government regulations often disproportionately impact small businesses, which face high regulatory cost burdens compared to larger businesses.  This legislation provides much needed help for our small businesses, which are such a critical part of the economy in Southern Illinois.”

 

The Small Business Regulatory Flexibility Improvements Act of 2015 does the following:

 

• Strengthens and modernizes the Regulatory Flexibility Act (1980) to give millions of Americans employed by small businesses the voice they deserve in the regulatory process;

• Clarifies that agencies have to consider indirect economic effects as well as direct economic effects;

• Eliminates the Internal Revenue Service’s (IRS) favorite loopholes to avoid communicating with small businesses;

• Gives small businesses earlier input on new rules through Small Business Advocacy Review panels; and

• Makes agencies periodically review existing regulations and reduce where feasible.