MSCI, Allies Ask U.S. House Lawmakers To Reduce Small Business Regulatory Burdens

In early February, the Metals Service Center Institute (MSCI) joined more than 70 trade associations in signing a letter that urged leaders in the U.S. House of Representatives to advance meaningful regulatory relief for small employers. Specifically, the letter asked lawmakers to approved H.R. 1163, the PROVE It Act, which would strengthen the Regulatory Flexibility Act (RFA), a 1980 law that requires federal agencies to analyze the impact of proposed regulations on small businesses and consider less burdensome alternatives.

The letter argued dramatic regulatory shifts in recent years had created an urgent need for congressional action. “In one four-year term, the Biden administration finalized an unprecedented $1.8 trillion in new regulatory compliance costs and added 356 million in paperwork hours,” MSCI and its allies noted.

Additionally, as the S-Corp Association explained, private and public sector research has documented widespread agency noncompliance with the RFA, finding agencies frequently certify that new rules will not significantly impact small businesses without properly analyzing the costs.

The legislation has strong support among rank and file lawmakers.

The House Judiciary Committee and the House Small Business Committees have already approved the PROVE It Act and the bill was approved by the full U.S. House in the last Congress, though the U.S. Senate never acted on it.