Jefferson City News

Congressman Blaine Luetkemeyer (MO-03) has introduced the Regulatory Transparency for Small Businesses Act, a bill aimed at addressing the impact of overregulation on small entities. The bill requires federal agencies proposing regulations to disclose the approximate number of small entities affected, NAICS Codes for related industries, and the cost per small entity, along with the data used for this determination.

In a statement, Congressman Luetkemeyer highlighted the financial burden placed on small businesses by overregulation, stating, "On top of record inflation, workforce shortages and more, overregulation is costing our small business communities hundreds of thousands every year. As of 2021, the Biden Administration has issued 817 final rules costing $482.7 billion, resulting in 292.7 million hours of paperwork."

Luetkemeyer emphasized the lack of transparency in the rulemaking process, leading to burdensome regulations that negatively impact small businesses nationwide. He expressed confidence that the Regulatory Transparency for Small Businesses Act would prevent the passage of more harmful rules by ensuring agencies provide crucial information on the impact of regulations on small businesses before proceeding with rulemaking.

The bill addresses concerns raised under the Regulatory Flexibility Act (RFA), which requires agencies to conduct regulatory flexibility analyses if a rule is expected to significantly affect a substantial number of small businesses. Luetkemeyer pointed out loopholes in the RFA that have allowed agencies to bypass these analyses, citing the example of the Waters of the United States (WOTUS) rule.

By mandating transparency and accountability in the certification process, the Regulatory Transparency for Small Businesses Act aims to prevent agencies from overlooking crucial considerations when determining the impact of regulations on small businesses.

For more information or to share questions and concerns, individuals are encouraged to visit Congressman Luetkemeyer's official website or contact his offices in Jefferson City at 573-635-7232 or Cottleville at 636-327-7055. Updates on legislative work can also be found on his YouTube, Facebook, Twitter, and Instagram accounts.