ARTICLE
The Lakeland Chamber joined state and local chambers on a letter to the US House of Representatives supporting H.R. 7198, the Prove It Act. The bipartisan bill would close loopholes in the 44-year-old Regulatory Flexibility Act intended to minimize regulatory burdens on small businesses.
"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 is 20% greater than the cost per employee at their larger competitors."
Read more and view the full letter at USChamber.com.