“I will always stand with Main Street over Wall Street, and remain laser-focused on supporting our nation's small businesses. That means making it easier for them to do their jobs and keeping the federal government out of the way,” said Senator Marshall. “It’s time to slash the red tape and create a regulatory environment that ensures America’s small businesses, the backbone of our economy, thrive.”

“Small businesses are the backbone of our economy, yet they continue to face mounting challenges from costly and excessive federal regulations,” said Rep. Meuser. “Under the Biden administration, small businesses have been burdened with $1.7 trillion in regulatory costs and 326 million hours of paperwork—time and money that should be spent growing their businesses and creating jobs. Red tape and bureaucratic overreach make it more difficult—and more expensive—for entrepreneurs to start, sustain, and expand. If we want to foster innovation, competition, and economic prosperity, we must remove these unnecessary barriers. House Republicans remain committed to standing with small businesses, cutting burdensome regulations, and ensuring that government policies promote—not hinder—American success. That is why I support the Small Business Regulatory Reduction Act, which will roll back excessive regulations and provide much-needed relief to our job creators.”

“Main Street America continues to be crushed by Crazy Town’s regulatory regime,” said Rep. Bean. “As a former small business owner, I know firsthand the burdens small businesses face. That’s why I’m proud to join Congresswoman Van Duyne in removing red-tape and compliance obstacles harming hardworking small and family-owned businesses.”

“Burdensome and archaic regulations are suffocating small businesses," said Rep. Derek Schmidt. “I’m proud to join my colleagues on this legislation that would contribute to our work to slash red tape and provide Kansas businesses and entrepreneurs with a government that actually supports them rather than stands in their way.”

The bill is also supported by the Small Business & Entrepreneurship Council, National Taxpayers Union, Competitive Enterprise Institute, and the Associated General Contractors of America.

"The Small Business Regulatory Reduction Act directs the SBA Administrator to quantify and monitor regulatory costs on small businesses, which is greatly needed as the cumulative costs are overwhelming small firms and undermining their competitiveness,” said Karen Kerrigan, President and CEO of the Small Business & Entrepreneurship Council (SBE Council). “Quantifying these costs on an annual basis and determining whether rules cumulatively exceed a zero-based regulatory budget provides a framework that promotes accountability and sensible regulation. SBE Council strongly supports this legislation, as it will help Congress with critical oversight and help to inform and educate regulators about the need to consider small business impact as they propose and advance their regulatory initiatives.”

"The first rule of economic growth is to stop stifling entrepreneurs. Yet, that's exactly what Washington does to small businesses. Startups and mom-and-pops can't afford full-time staff dedicated to regulatory compliance the way bigger companies can,” said Ryan Young, Senior Economist at the Competitive Enterprise Institute. "Capping regulatory costs for small businesses at current levels is an important step towards better regulatory policy, as are the Small Business Regulatory Reduction Act's improved transparency requirements." 

"Small businesses often deeply suffer the effects of federal regulations because they have limited resources for compliance. This bill from Senator Roger Marshall and Representative Beth Van Duyne would ensure these burdens are minimized and tallied," said Nicholas Johns, Senior Policy and Government Affairs Manager at the National Taxpayers Union. "National Taxpayers Union applauds this bill because it would prevent the Small Business Administration from hindering companies under their purview and create a government-wide report detailing the regulatory costs on small businesses." 

“The small business that represent the backbone of the construction industry are often faced with vague and burdensome regulations that undermine their ability to succeed," said Jeffrey Shoaf, CEO of the Associated General Contractors of America. "This measure will reduce these regulatory burdens in a way that supports the growth of small businesses and contributes significantly to the development of the nation’s vital infrastructure, while maintaining existing environmental standards.”

Click HERE to read the full bill text. 

Background:

• Federal government regulation costs have been estimated to exceed $3 trillion, with most of the burden falling on small businesses.
• This bill will also require the Small Business Administration (SBA) to report annually on the regulatory costs imposed by other federal agencies on small businesses.

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