Small Business Regulatory Reduction Act

Hozzl · 2023-12-15T15:59:15Z

Explore the details of House Bill 3995 Small Business Regulatory Reduction Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Commerce. Stay informed on legislative developments.

12/15/2023, 3:59 PM

Summary of Bill HR 3995

Bill 118 hr 3995, also known as the Small Business Regulatory Reduction Act, aims to reduce regulatory burdens on small businesses in the United States. The bill was introduced in the House of Representatives on September 16, 2021, by Representative Young Kim from California.

The main purpose of this bill is to require federal agencies to conduct a review of existing regulations that may be burdensome to small businesses. The bill also requires agencies to consider the impact of regulations on small businesses when proposing new regulations.

Additionally, the bill includes provisions to increase transparency and accountability in the regulatory process. It requires agencies to provide clear explanations for regulatory actions and to solicit input from small businesses and other stakeholders. Overall, the Small Business Regulatory Reduction Act seeks to promote economic growth and job creation by reducing unnecessary regulatory burdens on small businesses. The bill has received bipartisan support in Congress and is currently being considered by the House Committee on Small Business.

Congressional Summary of HR 3995

Small Business Regulatory Reduction Act

This bill requires the Small Business Administration to ensure that for each fiscal year the cost to small businesses of the administration's rulemaking (including the modification or repeal of a rule) is not greater than zero.

The administration also must report on any regulations issued by other federal agencies that have an impact on small businesses.

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Current Status of Bill HR 3995

Bill HR 3995 is currently in the status of Bill Introduced since June 9, 2023. Bill HR 3995 was introduced during Congress 118 and was introduced to the House on June 9, 2023. Bill HR 3995's most recent activity was Placed on the Union Calendar, Calendar No. 144. as of September 1, 2023

Bipartisan Support of Bill HR 3995

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 3995

Primary Policy Focus

Commerce

Alternate Title(s) of Bill HR 3995

Small Business Regulatory Reduction Act

To require the Administrator of the Small Business Administration to ensure that the small business regulatory budget for a fiscal year is not greater than zero, and for other purposes.