WASHINGTON, D.C. – June 28, 2013 – (RealEstateRama) — The National Association of Home Builders (NAHB) today urged Congress to support bipartisan legislation introduced by Reps. Spencer Bachus (R-Ala.), John Barrow (D-Ga.), Tom Graves (R-Ga.), and Jim Matheson (D-Utah) that would ease regulatory burdens on small businesses.
Testifying on behalf of NAHB before the House Judiciary Subcommittee on Regulatory Reform, Commercial and Antitrust Law, Kansas builder Carl Harris said that the Regulatory Flexibility Improvements Act of 2013 (H.R. 2542) is critical to provide regulatory relief to small businesses burdened my onerous and excessive regulations.
“As a small businessman operating in a highly regulated industry, I know how difficult and costly it can be to comply with scores of government regulations that apply to my day-to-day work,” said Harris. “In fact, in my industry, the sum total of regulations imposed by government at all levels account for 25 percent of the final price of a new single-family home. This is particularly important in an industry where margins are so thin and consumer sensitivity to price fluctuations is so acute.”
H.R. 2542 requires federal agencies to identify and reduce the costs of regulations on small businesses when determining the economic benefits of a proposed rule. It also gives small businesses more opportunities to be heard as regulations are written.
Though the Regulatory Flexibility Act already stipulates that federal agencies must consider the effect of their actions on small businesses, Harris noted that too often they circumvent the intent and the letter of a law that is intended to make the regulatory process more cost effective and less burdensome for small businesses.
“To improve federal compliance with the Regulatory Flexibility Act, assure small businesses have a voice in the regulatory process, limit unnecessary regulations and spur job growth, I urge Congress to move quickly on this legislation,” said Harris.