Ernst bill would increase scrutiny of rules affecting small businesses
Legislation aimed at increasing the transparency of the rule-making process pertaining to small businesses has moved forward in the U.S. Senate. The Senate Small Business and Entrepreneurship Committee on Wednesday passed S. 2847 out of committee, and it now heads to the full Senate for consideration. The Prove It Act of 2016, sponsored by Iowa Republican Sen. Joni Ernst, would designate a third party to review the facts if there is a disagreement between agencies on the fiscal impact of a rule on small businesses, and issue a publicly available objective assessment. If it is determined that the proposed rule would have a significant impact on a substantial number of small entities, the bill requires the federal agency to go back and complete additional regulatory analyses. The legislation is supported by the National Federation of Independent Business, the U.S. Chamber of Commerce and Women Impacting Public Policy.
Source:
Source: Business Record
