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Thursday, September 19, 2024

Bill to reduce regulatory burdens on small businesses passes committee

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Congressman Aaron Bean | Aaron Bean Official Photo

Congressman Aaron Bean | Aaron Bean Official Photo

U.S. Congressman Aaron Bean's (FL-04) bill aimed at reducing regulatory burdens on small businesses has passed the Committee on House Small Business. The bill, H.R. 9033, known as the Let American Businesses Be On Record (LABOR) Act, mandates that the Department of Labor (DOL) engage with small business owners during the rulemaking process under the Small Business Regulatory Enforcement Fairness Act (SBREFA). This engagement is intended to allow for adjustments before finalizing new regulations.

"On top of record-breaking inflation and workforce shortages, the Biden-Harris Administration has piled over $1.6 trillion in burdensome regulations onto the backs of America’s job creators. As a former small business owner, I know firsthand the burdens small businesses face, and I will work to remove obstacles hindering growth and job creation, instead of adding more," said Congressman Bean. "My bill will ensure Main Street has an opportunity to weigh in on new regulations before they are implemented."

Currently, only specific agencies within DOL, such as the Occupational Safety and Health Administration, along with the Environmental Protection Agency and the Consumer Financial Protection Bureau, are required to conduct SBREFA panels. These panels provide a platform for affected entities to voice their concerns during the proposal stage of new rules.

Small Business Republicans have recently identified DOL as one of the federal government’s worst offenders regarding compliance with regulatory flexibility requirements.

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