Posted by Randy | May 18, 2015
A recent study by American Action Forum (AAF), an independent policy institute, provides some data-driven insight into the impact that regulatory cost burdens are having on the private sector.
To me, it simply doesn’t make sense. We want our small businesses to be growing, thriving, innovating, and creating value and jobs – so why cripple them with a back-breaking amount of regulations to comply with? That is not to say certain regulations are not necessary and beneficial – they are. But they must be streamlined, make sense, and be weighed against the impact they will have on our small business owners who were responsible for generating 60% to 80% of net new jobs created annually over the last decade.
That’s why I recently cosponsored a bill to require federal agencies to provide timely, detailed information about how much proposed regulations will cost and what impact they will have on businesses, families, and communities – before the regulation is allowed to go into effect. It’s commonsense.
Posted by Randy | April 01, 2015
It’s true there is a myriad of complex issues facing our nation, but there are also common sense action steps Congress can take right now, which shouldn’t be that difficult to agree on. Here are three things Washington needs to do to light up the economy and better support small businesses:
1) Streamline and cut back on unnecessary and overly burdensome regulations.
2) Create a tax system that is more fair, less complex, and allows American companies to stay competitive.
3) Get out of the way. Allow entrepreneurs the freedom to innovate, grow their businesses, and create jobs.
I’m working to reintroduce sanity and accountability to the regulation process, require federal agencies to consider the impact their rules will have on small business growth and job creation, and create a simpler, fairer tax code.
Posted by Randy | March 12, 2015
Small businesses are one of the greatest tools we have for lighting up the economy. That’s why I make it a priority to ease regulatory burdens, provide access to capital, and support small business growth. It’s why I cosponsored the REINS Act (H.R. 427), which reintroduces common sense into the regulatory process by requiring Congress to vote on all new major regulations before they are enforced on citizens and businesses. And it’s why I make it a point to regularly check in with small business owners across the 4th District and get their feedback, ideas, and insight on the challenges they’re facing.
Posted by Randy | September 29, 2014
Recently, the House of Representatives considered The Jobs for America Act, which is a package of bills supporting job creation through streamlining regulations, encouraging the hiring of American veterans, and providing relief for small businesses from Obamacare.
Some of the bills included are The REINS Act, (H.R. 367), which ensures that Congress votes on all new major regulations before they are enforced on citizens and businesses; The Permanent Internet Tax Freedom Act, (H.R. 3086), which protects internet access for all Americans and fosters growth in the digital economy; and the America's Small Business Tax Relief Act, (H.R. 4457), which ensures small businesses have the certainty they need to grow their businesses and create jobs.
Government should be an enabler of economic growth, not a barrier.
Posted by Randy | September 19, 2014
This week, the House passed the Promoting Job Creation and Reducing Small Business Burdens Act, (H.R. 5405) which reduces the regulatory burden on small businesses and spurs growth. It also includes several provisions to help emerging companies raise capital and grow.
By reducing the regulations crushing small businesses, we take a step towards freeing them up to light up our economy. It makes sense: real growth isn’t created by pulling a lever in Washington – real growth happens when our small businesses, innovators, and entrepreneurs have the ability and opportunity to create jobs, expand their companies, and push us forward.
I also cosponsored the Regulations From the Executive in Need of Scrutiny (REINS) Act, (H.R. 367), which requires Congress to take an up-or-down vote on every new major rule issued by a Federal agency before it could be enforced on businesses and the American people. This ensures that the Executive Branch is being held accountable for the barrage of burdensome regulations being imposed on job creators. It’s common sense.
Posted by Randy | June 27, 2014
Last week, the House of Representatives passed the America’s Small Business Tax Relief Act of 2014, H.R. 4457, with my support. This bill makes Section 179 of the IRS Tax Code permanent, providing important tax relief to small U.S. companies. It helps small business streamline records, purchase equipment, and reduce uncertainty for planning. This legislation passed by a vote of 272 – 144.
Standing up to big government on behalf of small businesses is a duty I take very seriously. Read about my recent work to ease burdens, provide access to capital, and support small business growth, here.
Posted by Randy | May 15, 2014
As we celebrate Small Business Week and recognize the value and importance of small businesses not just to our communities, but to the economic stability and prosperity of our nation, I wanted to share this article with you written by Congressman Sam Graves (R-MO), Chairman of the House Small Business Committee.
By Rep. Sam Graves (R-Mo.) - 05/14/14 09:00 AM EDT
Every small business throughout the country is a story of someone’s hard work, a good idea, or a plan to make life better for their family. Many succeed, some don’t. We should respect the courage, risk and sacrifice required to build a business. One of the purposes of National Small Business Week is recognition of that effort, but there’s more to it. We should examine policies that are helping and hurting small business and make the appropriate changes to encourage their growth because our economy hinges on their success.
Small businesses are responsible for about half the nation’s economic output, and when it comes to jobs, small firms have an outsized impact. Small companies comprise about half of all private sector jobs in total, and lead the way in job creation with 60-to-80 percent of all new jobs, depending on the year. All told, small firms can take credit for 65 percent of jobs created over a recent 17-year span, according to the Small Business Administration.
It’s fair to say that if small businesses are thriving, then the economy is likely to be healthy. If small businesses are struggling, then the economy is not strong.
Over the past month, the latest economic information has been a mix of good news and bad. The unemployment rate has fallen, but a closer look shows far too many Americans leaving the workforce. Moreover, the economy slowed to a mere 0.1 percent growth last quarter. Throughout the very slow recovery of the past several years, the economy has never really roared back or created jobs at the pace the country needs.
Small businesses are a major part of the solution for jobs and growth. When small firms grow, the benefits spread throughout the economy. The irony is that these businesses are often treated by Washington as though they are part of the problem. During the last five years, small businesses have faced numerous roadblocks to growth, including mounting federal regulations, higher taxes, economic uncertainty, and burdensome requirements from the health care law.
As one Connecticut small business owner, Dan De Clercq, commented to the Small Business Committee through our interactive website Small Biz Open Mic, “Since ObamaCare became a discussion in 2008, our yearly premium has doubled from 113k to 220k presently. Plus our deductibles and co-pays have increased to obscene levels. Eliminate or halve my corporate income taxes, help bring my company-sponsored health care back to normal levels and I'd hire four more people.”
Dan’s not alone in his experience. A recent NFIB study shows that ObamaCare’s Health Insurance Tax will cost the economy up to 286,000 jobs, and 57 percent of those jobs would be from small businesses. Over the past five years, the cost of new regulations on the American economy has spiked by $73 billion annually. The Administration has issued a burdensome 157 new major rules, each with economic costs of $100 million or more. This government power grab is predictably not leading to robust economic growth.
Despite the state of the economy, the U.S. Senate continues to ignore nearly 40 growth and jobs bills passed by the House. These bills range from reducing red tape to ensuring access to affordable energy.
Small businesses are widely supported by Americans, but they could use some more common-sense from Washington. The nation’s 28 million small businesses don’t need new bureaucracies or more government control; they need the administration to get out of the way so they can grow.
National Small Business Week is a great time to say “thank-you” to a small business in your neighborhood and “shop small.” I also believe this week is a great reminder that if Washington is going to talk-the-talk then Washington needs to get serious about a small business growth agenda that is going to back up that rhetoric.
Graves has represented Missouri's 6th Congressional District since 2001. He is chairman of the Small Business Committee and also sits on the Transportation and Infrastructure Committee.
Posted by Randy Forbes | March 18, 2014
According to The Center for Regulatory Solutions, a project of the Small Business & Enterprise Council, the regulatory cost per U.S. household is $14,678. In 2012, the median household income was $51,017. That means the regulatory cost per household is nearly 29% of the average family income.
At the end of February, the House passed a package of bills, with my support, to address this over regulation, and instead focus on spurring job and economic growth.
Posted by Randy | February 04, 2014
I wanted to share with you a recent article published by National Review, which details the increasingly apparent risks that Obamacare poses for small businesses. Below is a brief summary.
The Result: “Hundreds of thousands or even millions of small businesses and surely millions of their employees and dependents will have their health-insurance coverage seriously jeopardized.”
In my view, this situation is unacceptable. I supported an alternative (H.R. 3121) to Obamcare, and remain committed to fighting on behalf of our nation’s number one job creators: small businesses.
Posted by Randy | November 20, 2013
Putting aside political posturing and partisan talking points, what is the healthcare law's real life impact on small businesses across America? A survey of companies representing 42 million jobs, released this month by the International Franchise Association and Chamber of Commerce, reveals that the law is forcing our nation’s job creators to cut employee hours and halt job creation. Here are some highlights:
To place this burden on the backs of our nation’s number one job creators is both unacceptable and short sighted. That is why I championed solutions to:
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