Representative Jeff Denham (R-CA) has joined forces with Rep. Mike Michaud (D-ME) to introduce a bipartisan bill that seeks to help small businesses have their voices heard throughout the Internal Revenue Service rulemaking process.
The bill, titled the IRS Rulemaking Fairness Act, would see that the IRS is added to an existing list of agencies that must confirm that a newly proposed rule will not have a significant impact on small businesses.
“As a small business owner I know firsthand that time spent complying with federal regulations is time not spent on growing my business,” said Denham. “Small business owners are the engine of progress across the country, and if we’re going to get the Central Valley economy moving again, this kind of legislation will be key.”
The legislation also includes language to specify that the IRS’s rule making process must abide by current regulatory review processes such as the Regulatory Flexibility Act — the law that mandates federal agencies to fully analyze the impact of their regulatory actions on small organizations or businesses.
Working across party lines with Denham, Michaud also believes that the IRS Rulemaking Fairness Act will help protect America’s small business owners.
“This bill simply requires the IRS to thoroughly consider those they are impacting,” said Michaud. “Federal regulations play a critical role in keeping Americans safe and secure. They protect the safety of the food we eat, and they help keep the air we breathe and the water we drink clean. But the least we can do is seek to improve the rulemaking process so that new rules don’t unduly burden the very people they are often designed to help.”
According to Denham’s office, small business owners across the country consider the IRS rule making process and regulatory enforcement policies as burdensome, as the IRS rarely considers the comments made by the Small Business Administration’s Office of Advocacy while writing new rules.
“This is one way to help push burdensome federal regulation out of the way so that small business owners can do what they do best – strengthen local economies and create jobs,” said Denham.