« Belmont Makes top ten!! | Job Growth is looking robust »
May 07, 2004
Important Expansion of Regulatory Flexibility Act being considered
A news release
posted at the NFIB web site reports that an important expansion of the Regulatory Flexibility Act is being considered. We last talked about this important legislative reform at the end of last year at this site. The expansion being considered would now cover IRS paperwork and recordkeeping requirements.
From this news release:
"'America's small employers face a heavy regulatory burden which harms their bottom line and makes it much more difficult for them to compete in the world marketplace,' (Committee Chairman Don) Manzullo (the bill's author) said. 'This legislation simply requires federal agencies to take a closer look at proposed regulations to make sure they are not burdening small employers.'
"Thomas Sullivan, chief counsel for the Small Business Administration Office of Advocacy, testified yesterday on behalf of Manzullo's bill.
"'HR 2345 will improve the Regulatory Flexibility Act to allow for a more thorough analysis, foster the consideration of alternatives that will reduce the regulatory burden on small entities, and improve the transparency in the rulemaking process,' he said."
This is part of the general push to get government out of the way of entrepreneurs, who have historically been burdened by unrealistic application of regulations intended for large corporations. This movement at the federal level combined with the introduction of the National Governors Association agenda on entrepreneurship discussed earlier on this site and the international agenda supported by the Kauffman Foundation (see earlier post on this report here) is good news, as such reform combined with educating entrepreneurs are the most effective tools we have available to support our entrepreneurial economy.
Posted May 7, 2004 01:10 PM
Comments
Any idea what the status of the bill is? Thanks.
Posted by: D. Logan at November 30, 2004 07:10 PM
at Belmont University in Nashville, Tennessee. He consults with a variety of businesses on start-up and growth related issues, and with larger corporations on re-establishing entrepreneurial cultures within their organizations. Dr. Cornwall's current research interests include entrepreneurial finance and entrepreneurial ethics. He has authored or co-authored four books.
