Administration Agencies Seek To Finalize Rules As President Obama’s Term Nears End
The Obama Administration is scrambling to propose regulations before a key deadline to ensure they are finalized before President Obama’s second term ends. Under the Congressional Review Act, Congress can invalidate rules in a 60 day window after they are finalized on a simple majority vote that is not subject to filibuster in the Senate. Under the current congressional calendar – which could change if Congress returns for a lame duck session – that window begins on May 17. To ensure that their work is enacted, Administration officials are rushing to finish over 90 proposed rules that qualify as “economically significant,” or carry an annual price tag of $100 million or more, Bloomberg News reports. The proposals include requiring that food producers list “added sugar” on nutrition labels, reducing the accepted level of silica, a carcinogen, that workers can safely inhale, the implementation of a fiduciary requirement for investment advisers, requiring oil drillers stop methane leaks, and increasing household appliance energy efficiency.
What This Means For Small Business
Small business owners know that federal government regulations disproportionately affect them. The Obama Administration’s effort to leave its imprint on federal policy will result in a wide range of ill-considered and rushed new rules that will hurt businesses, large and small.
NFIB has identified a number of proposed regulations for its watch list.
Note: this article is intended to keep small business owners up on the latest news. It does not necessarily represent the policy stances of NFIB.