Luetkemeyer Sends Letter to OIRA Acting Administrator Calling for Small Business Deregulation
Washington, June 3, 2021
WASHINGTON, D.C. – Today, Ranking Member Blaine Luetkemeyer (MO-03) sent a letter to the Office of Information and Regulatory Affairs (OIRA) Acting Administrator Sharon Block calling for small business deregulation. As small business owners are working tirelessly to stay afloat and adjust to operating in the post-pandemic world, it is imperative that the federal government provide small businesses with an environment that is free from increased burdensome regulations.
Excerpts from the letter and the link to the full letter can be found below.
"At a time when small businesses are still struggling to recover from the pandemic, regardless of the industry, they continue to be burdened by the skyrocketing cost of regulatory compliance. In an April 2021 NFIB study, small and independent business owners ranked government regulation as their third most important problem. Only taxes and finding workers ranked higher. And regulatory compliance is not getting easier. In a recent survey, 51% of respondents said in the last two or three years, the number of regulations affecting their business had increased, and 45% said the number had stayed the same. Two percent said there were fewer.
"Small businesses are our economy’s best innovators and job creators, and employ half of all private-sector workers. According to the SBA, America’s almost 30 million small companies create 1.5 million jobs annually and account for 64% of new jobs created in the United States. Some studies have shown that small businesses accounted for virtually all U.S. job growth. In the current pandemic economic downturn, America needs its 30 million small businesses to retain the 56 million jobs and the families they support.
"America unquestionably needs the strong economic boost that small firms can provide, so we must ensure that they have the environment that allows them to grow, flourish, and support their workers and communities. Studies have shown that small business have been disproportionately affected across all industries during the pandemic, they need an environment that provides them with independence – and one that is free from burdensome regulations.