House Republicans press Biden admin to prove regulations are eviscerating small businesses

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House Republicans press Biden admin to prove regulations are eviscerating small businesses

EXCLUSIVE: House Republicans are pressing the Biden administration to demonstrate that its historic levels of regulations are not eviscerating small businesses, according to a letter obtained by Fox News Digital.

Luetkemeyer said the Biden administration is not a friend of main street USA and must be held accountable for its lack of oversight on massive regulations.

Luetkemeyer told Fox News Digital that small businesses are the lifeline of the economy. The next great economy is on the way when they are successful. New regulations that can affect small businesses must be reviewed to make sure they don't have negative consequences. The Congressional Review Act, Small Business Regulatory Enforcement Fairness Act, and the Regulatory Flexibility Act are two of the concerns of Republicans about the enforcement of three laws. The federal agencies must notify small businesses of proposed regulations so they can provide feedback and assess their potential impact.

In 2005, the GAO released a report that concluded that the definitions of when these laws are applicable to federal agencies are not clear. Luetkemeyer said more recent studies are needed to assess how these regulations are enforced.

Luetkemeyer wrote in a letter to the GAO that while inflation continues to affect the American economy, I seek updated information on the implementation of these laws to identify if agencies are wrongly imposing preventable regulatory costs on small business owners.

COMMON GROUND:

Five agencies responded to House Republicans' October letters: the International Trade Commission, the Consumer Financial Protection Bureau, the Department of Labor, the National Labor Relations Board and the Federal Labor Relations Authority. The agencies said they work with the Small Business Administration on the definitions of when agencies are required to notify small businesses of proposed rules. The CFPB said there was no single way to apply the regulations.

The CFPB does not use a single definition of'significant impact' and a substantial number of small entities when making its determinations, because those definitions depend on the market involved in rulemaking, according to the CFPB response.

The Small Business Administration did not respond to a request for comment.