Cedar Park Chamber Joins US Chamber Letter to Congress

To the Members of the United States House of Representatives:

The undersigned chambers of commerce strongly support H.R. 7198, the Prove It Act of 2024, and urge the House to consider this important legislation.

This bipartisan bill – led by Representatives Brad Finstad, Nathaniel Moran, and Yadira Caraveo and reported by the Judiciary Committee last month – would be a major step forward for small businesses that are harmed by excessive federal regulations.

American small business owners are job creators and innovators. While their contributions to their communities and to the American economy are enormous, they bear an unreasonably heavy burden when it comes to regulatory costs. The annual cost of complying with federal regulations has risen by $465 billion since 2012 and now totals over $3 trillion (12% of U.S. GDP). The per employee cost of $12,800 for small businesses to comply with federal regulations is 20% greater than the cost per employee at their larger competitors.  

The Regulatory Flexibility Act - passed 44-years ago - was intended to correct the lopsided burden on small business and require that regulators tailor rules to meet government objectives while minimizing the burden on small businesses. Unfortunately, federal agencies too often exploit loopholes in the law to hide costs imposed on Main Street businesses and to ignore their feedback.

The Prove It Act of 2024 would close those loopholes and bring more transparency to the true costs of red tape on America’s innovators, job creators, and community builders. The bill would also prevent agencies from ignoring small business input in their rush to finalize new federal regulations.

We urge expeditious House consideration of H.R. 7198, the Prove It Act.

Sincerely,

U.S. Chamber