The U.S. House on Thursday passed a key provision in the Regulatory Flexibility Improvements Act to abolish unnecessary federal regulations on job creators.
The provision, which is part of Congressman Vern Buchanan's 10-point Jobs Plan was approved 263-159.
“In these tough economic times, we must do everything in our power to give small businesses the tools they need to prosper,” Buchanan said. “We can start by removing job-killing regulations that burden businesses and stifle economic growth. America’s greatness comes from its people and their innovation, not more government intrusion. Today’s vote is a step in the right direction.”
The act, called H.R. 527. closes loopholes in current law to ensure regulatory agencies will fully account for the effect of new regulations on small businesses before regulations are adopted.
To view more on Buchanan's jobs plan, click here.
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