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To help create a more competitive economic environment Congressman Bill Posey (R-Rockledge) supported The Small Business Regulatory Flexibility and Improvements Act (H.R. 527) which passed the U.S. House of Representatives today with bipartisan support. The legislation makes important reforms to ensure that America’s small businesses and their employees have a louder voice in the federal regulatory process.

“Small businesses are the backbone of our economy, employing about half of America’s workforce,” said Congressman Posey. “Yet small businesses bear the brunt of Washington's overregulation which increases costs and puts added pressure on job creators. It’s just common sense that federal agencies should see the big picture when adding to the stack of regulations already in force.”

The Small Business Regulatory Flexibility and Improvements Act directs federal agencies to consider both the indirect economic effects as well as direct economic effects of the regulations they craft and implement. The legislation also gives small businesses earlier input on new rules through small business review panels and requires that agencies regularly review existing regulations to eliminate outdated and ineffective rules.

Every year Washington churns out nearly 4,000 new regulations with roughly 200 of these new rules adding significant costs to businesses. According to the Small Business Administration, annual regulatory compliance costs small businesses upwards of $10,000 per employee. Posey said he has a stack of federal regulations in his office measuring more than 60 feet tall representing just four years worth of new and proposed “laws” made by unelected bureaucrats. “This is what our businesses are up against,” said Posey.