Two more lawmakers have expressed support for a bill aimed at protecting small businesses from overregulation.
Reps. Carol Miller, R-W.Va., and David Valadao, R-Calif., became co-sponsors of the Prove It Act, or HR7198, on Wednesday, May 15.
The bipartisan bill was introduced by Rep. Brad Finstad, R-Minn., in February. The Prove It Act of 2024 would require federal agencies to analyze the impact of their regulatory action on small businesses.
“I’m a farmer and a small-business owner,” Finstad told Land Line Now earlier this year. “I’ve seen firsthand and heard numerous stories of the negative effects of government overreach when it comes to overly protected regulations and the rulemaking process.”
The bill would apply to all industries, including trucking, which is no stranger to government regulation. Plus, most motor carriers are small businesses.
“Not only are small businesses the backbone of America’s economy; they’re the backbone of America’s supply chain,” OOIDA President Todd Spencer said when the bill was introduced. “Over 70% of American freight is transported exclusively by truck, and 96% of trucking is made up of small business carriers. OOIDA and the 150,000 small-business truckers we represent support the bipartisan Prove It Act to keep government overreach and burdensome overregulation off of the backs of the men and women behind the wheel who keep our economy moving.”
The Prove It Act would:
- Create ways for small businesses to raise concerns when regulators don’t properly consider how the costs of the regulation will affect them
- Allow small businesses to ask for a review of the agency’s work and make the government prove it is compliant
- Stipulate that small businesses will be exempt from the regulation if the agency fails to comply with the review process
- Ensure that small businesses can easily access guidance documents and raise questions to their regulators
The bill now has seven co-sponsors. In addition to OOIDA, organizations that support the bill include the Job Creators Network, the U.S. Chamber of Commerce, the National Federation of Independent Business and the Independent Community Bankers Association. LL
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